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

4 Important Types of Decentralization

The term “decentralization” embraces a variety of concepts which must be carefully analyzed in any particular country before determining if projects or programs should support reorganization of financial, administrative, or service delivery systems. Decentralization—the transfer of authority and responsibility for public functions from the central government to subordinate or quasi-independent government organizations and/or the private sector—is a complex multifaceted concept. Different types of decentralization should be distinguished because they have different characteristics, policy implications, and conditions for success. Types of decentralization include political, administrative, fiscal, and market decentralization. Drawing distinctions between these various concepts is useful for highlighting the many dimensions to successful decentralization and the need for coordination among them. Nevertheless, there is clearly overlap in defining any of these terms and the precise definitions are not as important as the need for a comprehensive approach. Political, administrative, fiscal and market decentralization can also appear in different forms and Continue reading

Abey Francis

Organizational Chart – Meaning, Definition, Features, Types, Advantages and Limitations

Organizational structure of a company can be shown in a chart. Such chart indicates how different departments are interlinked on the basis of authority and responsibility. It is a simple diagrammatic method of describing an Organizational structure. It indicates how the departments are linked together on the basis of authority and responsibility. Such organizational chart provides information of the organizational structure at a glance. Organizational chart is like a blue print of a building. It indicates the number and types of departments, superior-subordinate relationship, chain of command and communication. According to George Terry, organizational chart is “a diagrammatical form which shows important aspects of an organization, including the major functions and their respective relationships, the channels of supervision and the relative authority of each employee who is in-charge of each respective function”. Features of Organizational Chart The definition noted above indicates the following features of Organizational charts: Organizational chart is a Continue reading

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Influence of Interest Rate on Exchange Rates

Traditional macroeconomic exchange-rate models are based on fundamental analyses. In these models, the basic force that drives currency’s rate comes from the balance between supply and demand of currency, for example if the demand for the U.S. dollar exceeds its supply at the current exchange-rate against the euro the price of US dollar in terms of the euro will rise. Conversely, if supply exceeds demand, the price will fall. Demand and supply factors that govern currency’s rate’s become much more complex than that because people don’t use currencies just to purchase foreign goods and services, but also for activities like cross-border investment and speculation. This opens up many other variables that must be considered when addressing exchange-rate movements, as underscored in the Federal Reserve Bank of New York’s commentary cited previously. One of the most important factors, for example, is how investors ride interest-rate differentials between countries. We know that Continue reading

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Business Level Strategy vs Corporate Level Strategy

Business level strategy is defined as an organizational strategy that seeks to determine how an organization should compete in each of its businesses. In contrast, corporate level strategy is an organizational strategy that seeks to determine what business a company should be or wants to be. At the heart of business level strategy is the role of competitive advantage. This is what sets a company apart from its competitors and gives it a distinct edge. Sustaining competitive advantage will be based on the interplay of the five forces in an industry. According to Porter (1990), these five forces are the threat of new entrants, the threat of substitutes, the bargaining power of buyers, the bargaining power of suppliers and rivalry among firms. By performing an industrial and internal analysis, a firm can then identify its competitive advantages so that it can pursue the right strategy. There are a few major Continue reading

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Stakeholder Theory and Corporate Governance

In contemporary society, business organizations are taking on an increasingly complex and significant role. Some corporate giants control vast resources and possess enormous influence in human daily life. Especially when they enter areas such as health care and education, they can have a more deep relationship and powerful impact on society. However, the nature of business activities is to pursue the best interests and it could lead to some conflicts between different stakeholders. Thus, proper corporate governance needs to be used to ensure corporates continue operating on a normal track. In theory, corporate governance is a kind of system that could direct and control companies. The object of corporate governance is to make maximum profit for shareholders in the past. Unfortunately, it has been considered one of the most root causes of the governance crisis in recent times. On the one hand, excessive pursuit of share price performance has neglected Continue reading

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Attitudes – Definition, Components, Sources and Types

Attitudes can be defined as an individual’s feelings about or inclinations towards other persons, objects, events, or activities. Attitudes encompass such affective feelings as likes and dislikes, and satisfactions and dissatisfactions. Our needs, past experiences, self-concept, and personality shape the beliefs, feelings, and opinion we hold towards the perceived world. Once we have formed our likes and dislikes, we generally cling on to them and find it difficult to change our attitudes, unless we make a conscious and determined effort to do so. An interesting phenomenon is that our values shape our attitudes. Traditionally, behavioral scientists have divided attitudes into two major groups: i) those that are cognitive (for example, beliefs or expectations about cause-effect relationships between events) and ii) those that are evaluative (for example, liking or disliking for event). An example of a cognitive attitude would be an employee’s belief that superior job performance would be rewarded by Continue reading

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