Case Study on Entrepreneurship: Larry Page

Business Analysis

The Boundaryless Career: Modern Contemperory Perspective on Career

Human Resource Management

Concepts of Throughput Accounting and Theory of Constraints

Financial Management

Gantt Charts – Tool for Project Planning and Scheduling

Project Management

Kaizen – Understanding the Japanese Business Philosophy of Continuous Improvement

Operations Management

Crossing of Cheques

Crossing means drawing two parallel transverse lines across the face of the cheque  with or without the words “and company” in between the lines. It is a direction to the  drawee bank not to pay the amount at the counter, but only through a bank. It is made to  guard payment against forgery by unscrupulous persons. Crossing of cheques is of two kinds: (1) General Crossing and (2) Special Crossing. 1. General Crossing Sec. 123 of the Negotiable Instruments Act defines General Crossing as, “where a  cheque bears across its face an addition of the words ‘And Company’ or any  abbreviation thereof, between two parallel transverse lines or of two parallel transverse  lines simply, either with or without the words ‘not negotiable’, that addition shall be  deemed to be a crossing and the cheque shall be deemed to be crossed generally”.  Two parallel transverse lines across the face of the Continue reading

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Importance of Accurate Financial Statements

The role of financial accounting is not to show the value of a company, but rather it provides enough information for others outside the company to determine the value of the company for themselves. Financial Statements are annual statements summarizing a company’s activity over the last year. They consist of the profit and loss account, balance sheet, statement of total recognized gains and losses and, if required, the cash flow statement together with supporting notes. Proper financial statements are crucial for a company’s success. Bad financial management can quickly lead to a company’s downfall. Income statements, also known as P&L’s or profit and losses are a basic account of the company’s profits, expenses and sales. These reports will give insight into the finances of a company in the immediate and distant future. Balance sheets are the assets, liabilities and the equity of a company. This sheet is simply the statement Continue reading

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The BCG Growth Share Matrix

In the late 1960s a consultant for the Boston Consulting Group presented his ideas about cash deficient and growth deficient businesses and the need for a balance between cash generators and cash users. After that  the Boston Consulting Group developed a portfolio business model based on this thinking. The model, the BCG matrix or growth share matrix, was based on the Boston Consulting Group’s knowledge and work in the area of the experience curve and of the product life cycle and how they relate to cash generation and cash requirements. The growth share matrix was intended to analyze a portfolio from a corporate perspective because it is only at that level that cash balance is meaningful. A business may, however, be segmented further using this diagnostic tool to understand the positions of its various product lines or market segments. This portfolio can therefore be made up of products in a Continue reading

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Minimizing Resistance to Organizational Change

Resistance to change be those affected is often the single most formidable obstacle to its successful realization. It is to be understood at the outset that resistance to change is not, the fundamental problem to be solved. Rather, any resistance is usually a symptom of more basic problems underlying the particular situation. To focus the attention of symptom alone will achieve at best only limited results. The effective solution is that one must look beyond the symptom that is resistance to its more basic causes. It is quite appropriate and practicable for a manager to focus on situational and environmental factors that cause resistance. Many of these are directly within management’s control. Probably, efforts to minimize any resistance should be undertaken while it is still potential rather than real. There are different methods that the managers can use to  minimizing resistance to organizational change. Fundamentally, there are only two strategic Continue reading

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How to Eliminate Waste in Manufacturing?

What is Waste in Manufacturing Term? Waste Squander disposal is a standout amongst the best approaches to expand the gainfulness of any business. Forms either add esteem or waste to the creation of a decent or administration. The seven squanders started in Japan, where waste is known as “Muda.” “The seven squanders” is an apparatus to additionally order “Muda” and was initially created by Toyota’s Chief Engineer Taiichi Ohno as the center of the Toyota Production System, otherwise called Lean Manufacturing. To wipe out waste, it is imperative to see precisely what waste is and where it exists. While items altogether contrast between industrial facilities, the regular squanders found in assembling conditions are very comparative. For each waste, there is a technique to lessen or take out its impact on an organization, consequently enhancing general execution and quality. We’ve all heard the expression, “you can’t make something out of nothing.” Continue reading

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Why Do Small Businesses Fail?

More and more people are considering starting their own business. By opening a business there could be a large profit to be made. However, there are losses may occur as well. Some peoples argued that starting a business in a field that they know well would not fail. Knowing if starting a business at all is what most small businesses fail to consider. According to an SBA Study done in 2005, “About 1/3 of Small Businesses fail in the first 2 years, and just over half fail within 4 years.” These statistics are depressing for people looking to start up a new venture. SMEs in successful business networks can generate up to 50% more in gross revenues than firms that work in solitude. However, the most significant reason for this high failure rate is the inability of SMEs to make adequate use of essential business and management practices. Although failures Continue reading

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