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

Compensation Strategies for Different Workforce Generations

Employees are the most valuable assets of any organization. The main purpose of human resource management (HRM) is to manage the development and performance of people employed in an organization. Some of the important tasks of HRM include attracting and retaining employees with the right skills and abilities, match people to the right positions within an organization and to align employee’s goals and objectives with that of the organizations. All these key tasks are directly or indirectly affected by compensation and benefits plan which the human resource management decides. Compensation and benefits redefines value and success in any workplace. An efficient compensation and benefits strategy is seen as an opportunity by organisations to differentiate them-self from their competitors, who may otherwise take away talented workforce. Hence, organisations need to know the evolving needs of the working population to make sure they offer the most competitive package. Compensation is a major Continue reading

Abey Francis

Conditions and Forms of Price Discrimination

In today’s economic conditions in which the markets being far from full competitive state resulted the firms functioning in this market to become more or less a price-maker. For this reason, one of the ways for the firms that aim to increase the total income thus the total profit can use is, to implement different pricing for consumers with different specialties instead of applying the same pricing for all the consumer groups. Because the consumers having different income levels, taste and choice cause them to have a desire to pay different price for the product in question. One of the pricing strategies foresees different pricing for different consumer groups is price discrimination. The implementation of price discrimination will bring the firm that aims to maximize the profit in an advantageous position in the market. This advantage, generated from the desire of consumers that have different taste and income who are Continue reading

Abey Francis

Preventing Panic-Buying During Crisis Times

Panic-buying is a relatively common behavioral response to a crisis that people can exhibit in situations that they perceive to be dangerous and unpredictable. This behavior was previously observed in the wake of major natural disasters, such as earthquakes and hurricanes. Several factors can account for an increase in stockpiling and panic-buying behaviors. Access to excessive amounts of information during a crisis can result in a cognitive overload, which, in turn, leads to irrational behavioral patterns. Information overload can result in health anxiety, which prompts self-isolation and the tendency to make illogical purchases. The fear of the unknown causes coping behavior in the form of panic-buying and stockpiling. Therefore, it leads to the conclusion that panic-buying can emerge as a form of stress response in certain individuals. Peer pressure can contribute to irrational decisions in time of crisis as well. Panic-buying is defined as herd behavior, in which an individual Continue reading

Abey Francis

Key Characteristics of Online Marketing

With the maturity of Internet technology and low cost of networking, the Internet is like an “adhesive” to bind businesses, groups, organizations and individuals together across time and space, and making the exchange of information between them become “so easy.” Of Marketing, the most important and most essential is information dissemination and exchange between organizations and individuals. If there is no exchange of information, then the transaction has no source. For this reason, the Internet has certain features which are required in marketing to make internet marketing possesses the following characteristics: Not subject to the limitations of time and domain. The ultimate goal of marketing is occupy market share. Because the Internet can exchange information by transcending time and space constraints, firms have more time and more space for marketing. They could provide global marketing anytime and anywhere. Rich media. The Internet was designed to transmit multimedia information, such as Continue reading

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Three Key Elements of Six Sigma Process

Six Sigma is a widely used Operational Approach towards Operations Management and is frequently applied within Manufacturing Businesses, however the fundamental processes also apply within businesses operating within the Service Industry. The Purpose of Six Sigma is to reduce process variation so that virtually all the products or services provided meet or exceed customer expectations. Six Sigma adopts a very data driven, disciplined method for eliminating defects within processes and promoting business improvement within organisations. Six Sigma is able to show quantitatively how a process is performing and to achieve ‘Six Sigma Status’, a process must not produce more than 3.4 defects per million opportunities. Six Sigma is dissected into three core elements including: Process Improvement, Process Design/Re-Design & Process Management and will be explored below. 1. Process Improvement The Process Improvement aspect of the Six Sigma Model addresses the concept of improving existing processes with the ultimate objective of Continue reading

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Stakeholder Capitalism Model

Stakeholder capitalism model says that company should make decisions by taking into account the interests of all the stakeholders in the firm. Stakeholders include all individuals or groups who can significantly affect the welfare of the firm in the aspects of not only the financial claimants, but also employees, management, customers, local community, supply chain members, local or national government and creditors. One of the important variables in this model is considering all stakeholders’ interest as they are people who support and sustain the company. In the stakeholder capitalism model, it is argued that firms should pay attention to all their supporters that can affect the firm. Managers and boards of directors of company have vital roles on making decisions that suit multiple competing and inconsistent constituent interests. However, there are different demands and interests from stakeholders. Customers want low prices, high quality, expensive service and so on. Employees want Continue reading

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