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

Keynesian and Classical Economists Views about Disequilibrium

Economists usually define general disequilibrium as the state in which contrasting market forces of supply and demand fail to reach a balance and there exist an intrinsic inclination for change. The main indicator of market disequilibrium is the continuation of shortages either in the demand or supply side of the economy. There are two main models that hold divergent views concerning disequilibrium namely the Keynesian and Classical Economists models. Generally, the major causes for disequilibrium in the markets if the deficiencies created either in the aggregate demand or aggregate supply side of the economy. This means that in such circumstances the market does not clear. Main causes of disequilibrium are understood in the light of the economic model s followed by scholars. For instance, the Keynesian theory’s causes differ from that of classical economists. For instance, following Keynesian’s view, disequilibrium arises when there are disparities between leakages and injections where Continue reading

Abey Francis

Cross Cultural Decision Making – Programmed and Non-Programmed Decision Making

It is becoming quite apparent that businesses, big and small, need to understand how decision making affects their entire operations. When making decisions, managers in organizations apply either a programmed or a non programmed decision  making process. Both processes are affected by the culture of the society in which the decision is being made. For example, mangers in countries with relatively low tolerance for ambiguity, such as Japan and Germany, avoid non programmed decisions as making. Operating manuals in organizations in these cultures tend to be relatively thick. In contrast, mangers in countries with relatively high tolerance for ambiguity, such as the United States and Norway, seek responsibility for non-programmed decision making. The secrets of effective decision making lie in the balance between rational and intuitive thought. The following strategies provide a useful framework for making effective decision. Determine the problem and identify the goals to be accomplished by your Continue reading

Abey Francis

Receivable Management – Meaning, Significance and Purpose

Introduction to Receivable Management Receivables, also termed as trade credit or debtors are component of current assets. When a firm sells its product in credit, account receivables are created. Account receivable are the money receivable in some future date for the credit sale of goods and services at present. These days, most business transactions are in credit. Most companies, when they face competition, use credit sales as an important tool for sales promotion. As a sales promotion tool, credit sale enhances firm’s sales revenue and ultimately pushes up the profitability. But after the credit sale has been made, the actual collection of cash may be delayed for months. As these late payments stretch out over time, they may cause substantial drop in a company’s profit margin. Since the extension of credit involves both cost and benefits, the firm’s manager must be able to measure them to determine the ultimate effect of credits sales. In Continue reading

Abey Francis

What is International Advertising?

International Advertising, generally speaking, is the promotion of goods, services, companies and ideas, usually in more than one country performed by an identified sponsor. Marketers see advertising as part of an overall promotional strategy. Other components of the promotional mix include publicity, public relations, personal selling, and sales promotion. Advertising is a cogent communication attempt to change or reinforce ones’ prior attitude that is predictable of future behavior. It can be viewed as a communication process that takes place in multiple cultures that differ in terms of values, communication styles, and consumption patterns. It is also a business activity involving advertisers and the advertising agencies that create ads and buy media in different countries. The sum total of these activities constitutes a worldwide industry that is growing in importance. International advertising is also a major force that both reflects social values, and propagates certain values worldwide. International advertising involves recognizing Continue reading

Abey Francis

Measures of Central Tendency and Variability

Central tendency is a statistical measure that identifies a single score as representative of an entire distribution of scores. The goal of central tendency is to find the single score that is most typical or most representative of the entire distribution. Unfortunately, there is no single, standard procedure for determining central tendency. The problem is that there is no single measure that will always produce a central, representative value in every situation. There are three main measures of central tendency: the arithmetical mean, the median and the mode. The mean of a set of scores (abbreviated M) is the most common and useful measure of central tendency.   The mean is the sum of the scores divided by the total number of scores. The mean is commonly known as the arithmetic average. The mean can only be used for variables at the interval or ratio levels of measurement. The mean Continue reading

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Mintzberg Cultural and Environmental Schools of Thought

Henry Mintzberg had arranged strategy approaches into ten school of thoughts, each had its own strategy characteristic toward organization. Two of these schools: “cultural” school and “environmental” school are going to be taken into consideration. The main features of each school will be introduced firstly before going on their differences and similarities. Nowadays, culture within a business is necessary to preserve its own power and imagine. It groups individuals effectively into an organization. Mintzberg considered organizational culture as key resource of competitive advantage. It also affects to business changes in decision making style or dominating the value of service, quality, and innovation and so on. Environmental school, on the other hand, Mintzberg, 1998 noticed that “Environmental school first grew out of so-called: contingency theory, which described the relationships between particular dimensions of the environment and specific attributes of the organization”. It means that, in contingency view, environmental reacts to the Continue reading

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