Organizational Health – Concept, Dimensions, and Characteristics

Management Concepts

Organizational Health Approach – Building a Strong Workplace

Modern Management Concepts

Participative Management – Workers Participation in Management

Human Resource Management

Case Study on Entrepreneurship: Larry Page

Business Analysis

The Boundaryless Career: Modern Contemperory Perspective on Career

Human Resource Management

Selling Cost in Monopolistic Competition

Selling costs refer to those expenses which are incurred for popularizing the differentiated product and increasing the demand for it.   Selling cost is a special feature of monopolistic competition.   Under perfect competition due to homogeneous product and under monopoly because of absence of substitute, the selling costs become unnecessary. The most important instrument by which a firm can convince its buyers about the differentiating nature of its product is advertising.   Such expenditure which is incurred by a firm under monopolistic competition to persuade customers to prefer its product to that of its rivals is known as ‘selling costs’.   According to famous American  economist, Edward  Chamberlin, Selling Costs are Costs incurred in order to alter the position or shape of demand curve for a product.   Such selling costs may be incurred in any form such as advertising, sales promotion, samples to potential customers etc.   Whatever Continue reading

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How Internet of Things (IoT) Transforms the Retail Industry?

Competition is at the center of the victory or disappointment of firms. Competition decides the suitability of a firm’s exercises that can contribute to its execution, such as advancements, a cohesive culture, or great execution. Competitive Advantage is the seek for a favorable competitive position in an industry, the elemental field in which competition happens. Competitive advantage points to set up a beneficial and economical position against the powers that decide industry competition. A firm’s competition is expected to incorporate not as it were all of its current competitors, but moreover, potential competitors balanced to enter an industry at a future date. Hence, a firm that appreciates a competitive advantage or a supported competitive advantage is executing a technique, not at the same time being executed by any of its current or potential competitors. Forward-thinking retailers have embraced e-commerce and mobile innovations to address the competitive advantage. Retailers and innovation Continue reading

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Sample Design – Meaning, Steps, Criteria and Characteristics

A sample design is a definite plan for obtaining a sample from a given population. It refers to the technique or the procedure the researcher would adopt in selecting items for the sample. Sample design also leads to a procedure to tell the number of items to be included in the sample i.e., the size of the sample. Hence, sample design is determined before the collection of data. Among various types of sample design technique, the researcher should choose that samples which are reliable and appropriate for his research study. Steps in Sample Design There are various steps which the researcher should follow. Those are; Type of universe: In the first step the researcher should clarify and should be expert in the study of universe. The universe may be finite (no of items are know) or Infinite (numbers of items are not know). Sampling unit: A decision has to be Continue reading

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The Seven Wastes of Lean Manufacturing

There are differing opinions on how many ‘types’ of waste an organisation might have. Current thinking suggests, seven, eight, or even nine depending on the nature of the organisation and the type of work carried out. Originally, there were said to be seven types of waste, and these were largely found in manufacturing organisations.   They can be listed as: Overproduction Excess inventory Waiting (lost time) Unnecessary motion Unnecessary transportation (double handling, or moving excess stock) Re-work (poor quality) Over-processing (over-engineered) In each instance, it is recognized that even incremental improvements can help an organisation to increase its efficiency and reduce its costs.   These savings and improvements are typically realized in a greater proportion of better quality output, meaning that even small improvements can have an exponentially large positive outcome. It is also noted that each one of these seven types of waste can be tied to different types Continue reading

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An Overview of Foreign Exchange Management Act (FEMA)

The Foreign Exchange Regulation Act of 1973 (FERA) in India was repealed on 1st June, 2000. It was replaced by the Foreign Exchange Management Act (FEMA), which was passed in the winter session of Parliament in 1999. Enacted in 1973, in the backdrop of acute shortage of Foreign Exchange in the country, FERA had a controversial 27 year stint during which many bosses of the Indian Corporate world found themselves at the mercy of the Enforcement Directorate (E.D.). Any offense under FERA was a criminal offense liable to imprisonment, whereas FEMA seeks to make offenses relating to foreign exchange civil offenses. FEMA, which has replaced FERA, had become the need of the hour since FERA had become incompatible with the pro-liberalization policies of the Government of India. FEMA has brought a new management regime of Foreign Exchange consistent with the emerging frame work of the World Trade Organization (WTO).  It Continue reading

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Measures to Control Inflation

Inflation should be controlled in the beginning stage, otherwise it will  take the shape of hyper-inflation which will completely run the country. The different methods used to control inflation are known as anti-inflationary measures. These measures attempt mainly at reducing aggregate demand for goods and services on the basic assumption that inflationary rise in prices is due to an excess of demand over a given supply of goods and services. Read more:  Economic Policies to Control Inflation Anti-inflationary measures are of four types: Monetary policy Fiscal policy Price control and rationing Other methods 1. Monetary Policy It is the policy of the central bank of the country, which is the supreme monetary and banking authority in a country. The central bank may use such methods as the bank rate, open market operations, the reserve ratio and selective controls in order to control the credit creation operation of commercial banks and Continue reading

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