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

Provision for Depreciation

Depreciation is the cost allocated as expense which has the effects of reducing the value of a fixed asset during the period it is used by a business. It is a non-cash expense and need to be charged to the Profit & Loss account yearly which lowers the company’s profit which increasing free cash flow. Fixed assets are long life. They are bought to assist in the operation of business but not with the main purpose of resale. They are in fact revenue-generating assets as they help to gain profit depending on their useful lives. Depreciable items include machinery, vehicles, buildings and fixtures.  There are reasons why assets may depreciate: Obsolescence: Assets are replaced because new and more efficient technology has been developed. Depletion or Exhaustion: The values of assets such as mines, quarries and oil wells diminish due to the extraction of raw materials from them. Passage of Time: Continue reading

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Profit Maximization Under Price Discrimination

The aim of the discriminating monopolist is to maximize profits.   We can thus derive the condition of profit maximization under price-discrimination by extending the normal theory of the firm to a case where there are two or more markets instead of just one market.   We can build up the theory of profit maximization on the basis of certain assumptions : There are two markets A and B. The aim of the monopolist is to maximize profits. He enjoys monopoly position in both the markets. The elasticity of demand for the product in the two markets is different (This is perhaps the most essential condition for price discrimination to be profitable).   Price discrimination, according to Stonier and Hague “will be profitable only if elasticity of demand in one market is different from elasticity of demand in the other.   In general, it will pay a monopolist to discriminate Continue reading

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Attributes of Ideal Currency and a Sound Currency System

Attributes of the Ideal Currency: If the ideal currency existed in today‘s world, it would possess three attributes: Fixed value. The value of the currency would be fixed in relationship to other major currencies so that trades and investors could be relatively certain of the foreign exchange value of each currency in the present and into the near future. Convertibility. Complete freedom of monetary flows would be allowed, so that traders and investors could willingly and easily move funds from one country and currency to another in response to perceived economic opportunities or risks. Independent monetary policy. Domestic monetary and interest rate policies would be set by each individual country so as to pursue desired national economic policies, especially as they might relate to limiting inflation, combating recessions, and fostering prosperity and full employment. Unfortunately, these three attributes usually cannot be achieved at the same time. For example, countries whose Continue reading

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Functions of Organizational Culture

Organizational culture is the sum of reflects that gradually formed in the production and management practices, agreed and complied with all staff, with the characteristics of the Organization’s mission, vision, purpose, spirit, values and business philosophy, and the ideas in the production and management practices, management system, the behavior of employees with the external image. In essence, organizational culture is a cultural phenomenon among the enterprises, its appearance is inseparable from the development of the theory and practice of modern enterprise, from the management perspective, organizational culture are the application management tools to achieve management objectives, therefore, organizational culture are not only a cultural phenomenon, but also has a connotation as a management tool. First, the organizational culture is led by a sense of enterprise management, the cultural patterns of pursuit and realization in a certain corporate purposes, from a certain sense, the organizational culture is a culture of enterprise Continue reading

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Advertising Agency – Meaning, Functions and Benefits

An advertising agency is an independent organization set up to render specialized services in advertising in particular and in marketing in general. Advertising agencies started as space brokers for the handling of the advertisements placed in newspapers. Over the years, the function of the agencies has changed. Their main job today is not to aid media but to serve advertisers. An advertising agency or ad agency is a service business dedicated to creating, planning and handling advertising (and sometimes other forms of promotion) for its clients. An advertising agency is independent from the client and provides an outside point of view to the effort of selling the client’s products or services. An agency can also handle overall marketing and branding strategies and sales promotions for its clients. Typical ad agency clients include businesses and corporations, non-profit organizations and government agencies. Agencies may be hired to produce an advertising campaign . Continue reading

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The Roles of the Project Manager

The role of project manager is to attain the project objectives. The project manager must be experienced, capable, and competent in getting the project work done on time, within budget and according to specification. The project manager must simultaneously see to the needs of the sponsor and other stakeholders, manage the project life cycle and the performance of the project team, including his or her performance. It is a role that involves a mix of abilities, combining management with leadership and political awareness. The project manager is responsible for coordinating and integrating activities across multiple, functional lines. The integration activities performed by the project manager include activities which are necessary to develop a project plan; execute a plan and to make changes to the plan. A project manager must be able to understand the project detail but manage from the overall perspective. As an architect of the project plan, the Continue reading

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