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

How to Meet Costa Rica’s 2026 VASP Requirements Without Expanding Headcount

General Business Articles

Concepts of Throughput Accounting and Theory of Constraints

Financial Management

Law of Returns to Scale

The law of returns to scale examines the relationship between output and the scale of inputs in the long-run when all the inputs are increased in the same proportion. This law  of returns to scale in economics is based on the following assumptions; All factors are variable but the enterprise is fixed. There is no change in technology. Perfect competition prevails in the market. Returns are measured in physical terms. Three Phases of the Law of Returns to Scale Depending on whether the proportionate change in output exceeds, equals or decrease in proportionate to the change in both the inputs, the production is classified as increasing returns to scale, constant returns to scale and decreasing returns to scale. 1. Increasing Returns to Scale Increasing returns to scale arises due to the following reasons. Dimensional economies, Economies flowing from indivisibility, Economies of specialization, Technical economies, Managerial economies, Marketing economies. Alfred Marshall Continue reading

Abey Francis

Know Your Customer (KYC) Guidelines in Banking

Know Your Customer (KYC) It is important, in these days of drugs smuggling, terrorism, financial fraud, money laundering and arms dealing that banks know whom their customers are. Banks must be comfortable with the bona fides and the integrity of their customers. The need increases as external people like general selling agents introduce a number of customers. Apart from this, in order to develop a long- term relationship, it is an imperative that the banker knows as much as possible about his customer. What does KYC mean? It means that a banker should know his customers. He should know about their business and as far as possible the nature of their earnings and their moral standing. This is why it is recommended that persons known to the bank recommend prospective customers. Even though the introducers cannot be sued or otherwise held responsible, the introducers have a moral responsibility. A banker Continue reading

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L’Oreal SWOT Analysis

Prior to the establishment facial cosmetics, L’Oreal can be identified as a hair-colour formula which has been introduced by a French chemist known as Eugene Schueller in 1907. It was then known as”Aureole”. Schueller formulated and manufactured his own products which were sold to Parisian hairdressers. It was only in 1909 that Schueller registered his company as “Societe Francaise de Teintures Inoffensive pour Cheveus”, the future L’Oreal. Scheuller began exporting his products, which was then limited to hair-coloring products. There were 3 chemists employed in 1920. In 1950, the research teams increased to 100 and reached 1,000 by 1984. Today, research teams are numbered to 2,000 and are still expected to increase in the near future. Through agents and consignments, Scheuller further distributed his products in the United States of America, South America, Russia and the Far East. The L’Oreal Group is present worldwide through its subsidiaries and agents. L’Oreal Continue reading

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An Overview of Indian Commodity Exchanges

A commodities exchange is an exchange where various commodities and derivatives products are traded. Most commodity markets across the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, metals, etc.) and contracts based on them. These contracts can include spots, forwards, futures and options on futures. Other sophisticated products may include interest rates, environmental instruments, swaps, or ocean freight contracts. Commodity exchanges are institutions which provide a platform for trading in ‘commodity futures’ just as how stock markets provide space for trading in equities and their derivatives. They thus play a critical role in robust price discovery where several buyers and sellers interact and determine the most efficient price for the product. In India there are 21 regional exchanges and three national level multi-commodity exchanges. After a gap of almost three decades, Government of India has allowed Continue reading

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Collective Bargaining – Definition, Features and Process

Collective bargaining involves discussions and negotiations between two groups as to the terms and conditions of employment. It is called ‘collective’ because both the employer and the employee act as a group rather than as individuals. It is known as ‘bargaining’ because the method of reaching an agreement involves proposals and counter proposals, offers and counter offers and other negotiations. Thus collective bargaining: is a collective process in which representatives of both the management and employees participate. is a continuous process which aims at establishing stable relationships between the parties involved. not only involves the bargaining agreement, but also involves the implementation of such an agreement. attempts in achieving discipline in the industry is a flexible approach, as the parties involved have to adopt a flexible attitude towards negotiations. The main characteristics of collective bargaining are: Collective Process: The representatives of both the management and the employees participate in it. Continue reading

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Universal Banking – Concept, Meaning, Advantages and Limitations

Universal Banking includes not only services related to savings and loans but also investments. However in practice the term ‘universal banks’ refers to those banks that offer a wide range of financial services, beyond commercial banking and investment banking, insurance etc. Universal banking is a combination of commercial banking, investment banking and various other activities including insurance. According to Cheang (2004), the universal bank can be defined as “the banking system in which the bank offer the whole variety of financial products and services.” He also states that it combines both investment banking and commercial banking, for example, lending and taking a deposit, selling insurance, issuing underwriting, investing and trading in securities. To me therefore, the universal bank refers to the banking system which operates completely financial services like a supermarket. It is a multipurpose and multi-functional financial supermarket providing both ‘Banking and Financial Services’ through a single window. As Continue reading

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