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

Stakeholders Perspective on Corporate Social Responsibility (CSR)

There are various definitions proposed by various scholars for Corporate Social Responsibility (CSR), but still, it remains uncertain and is poorly defined with few explanations. First, the issues that a CSR must address should be easily interpreted so that it includes virtually everyone and everything. Second, with its unique, often particular characteristics, different stakeholder groups tend to focus only on specific issues that they believe are the most appropriate and relevant in organizations’ corporate social responsibility programs. Thus, the beliefs about what constitutes a socially responsible and sustainable organization depend on the perspective of the stakeholder. Although the most basic definition CSR describes it as a social obligation for an organization, which is conceptually and operationally diverse. Corporate Social Responsibility is the continuing commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of Continue reading

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Factories Act 1948

Factory Act 1948 1.           Government regulation o the working condition in factories begins in India in 1881 when the first Indian factories Act was passed. 2.           This act was substantially amended in 1934 on the basis ob the recommendations of the Royal commission on labour. 3.           The act of 1934 dividend factories into two categories-seasonal and perennial. 4.           This act was amended several times. 5.           On the eve of independence the national government announced far reaching legislative program for the welfare of workers. 6.           As a part of this program, the factories act 1948 was passed. 7.           The factories act 1948 is comprehensive in nature and through it the government has tried to implement as Continue reading

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Exchange Rate Factors – Factors Affecting Exchange Rates

When trade takes place between the residents of two countries, the two countries being a sovereign state have their own set of regulations and currency. The exporter would like to get the payment in the currency of his own country, the importer can pay only in the currency of the importers country. This creates a need for the conversion of the currency of importer’s into that of the exporter’s country. Foreign exchange is the mechanism by which the currency of one country is gets converted into the currency of another country. The conversion is done by banks and financial institutions, who deals with foreign exchange business. When one currency is converted into another, there must be some basis in effecting the conversion. The basis by which the currency unit of one country gets converted into currency units of another country is known as foreign exchange rate. Foreign exchange rate is Continue reading

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Introduction to Organization Development

Organizations change from time to time. Changes with respect to continuous improvements, diversity, and work process engineering require the organization to move forward through a process called organizational development. Definition of Organization Development: Organization development is a process that addresses system wide change in the organization. Change agent: Change agents are individuals responsible for fostering the change effort and assisting employees in adapting to changes They are may be internal employees, or external consultants. What is change? Organization development efforts support changes that are usually made in four areas: The organization’s systems Technology Processes People Two metaphors clarify the change process. The calm waters metaphor: It describes unfreezing the status quo, change to a new state, and refreezing to ensure that the change is permanent. Kurt Lewin describes the status quo can be considered an equilibrium state. Unfreezing, necessary to move from this equilibrium, is achieved in one of three Continue reading

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The Principle of Opportunity Cost

Opportunity or economic cost is an initial part of the business process and plays a crucial role for stakeholders and investors. The opportunity cost calculation represents the distinction between the returns of investments of the declined and accepted option. When the management decides which direction will be the most successful for the company and bring a lot of profit, they have to consider all the possible outcomes. Choosing one opportunity over another always comes with some benefits and losses. The central task is to see all the possible opportunities and choose those that will bring more profit. The opportunity cost of a decision means the sacrifice of alternatives required by that decision. The concept of opportunity cost can be best understood with the help of a few illustrations, which are as follows: The opportunity cost of the funds employed in one’s own business is equal to the interest that could Continue reading

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10 Common Characteristics of Successful Entrepreneurs

Entrepreneurship is itself a process through which the entrepreneur allocate the resources available to the business in a way or in other words in a systematic manner that the entrepreneur can meet the requisites of the business and achieve the objectives of the business as well as of his own. Now a days businesses are being done on large scale or more businesses are being run in one organization therefore, the executive management or the entrepreneurs has to adopt the ways and system through which they can not even secure their time but to save their resources from drain. Entrepreneurship is the process of innovation that reallocates resources to new opportunities, often creating new opportunities through unusual combination of resources and skills of risk taking. The entrepreneurs some time has to face the problems because they prepare their plans personally and create innovations and believe that they are doing the Continue reading

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