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

Investment in Human Resources

There is much debate as to whether the human resources of an organization can be considered as an asset and treated accordingly in the accounting system. There are two schools of thought. One says that human resource is an asset and the other does not agree with this. Now let us see what is an asset? Asset is anything which is owned by the entity to derive service in future and should have legally enforceable claim. As such there is no guarantee of deriving benefits from the existing human resources in future and has no sales value like other assets. Therefore, legally, human resource is not an asset claims one school of thought. Besides, company law also does not consider it as an asset. But the other school is of the opinion that the “human resource is an  asset“. This school of thought puts forth two contentions in favor of Continue reading

Abey Francis

Earnings Management – Meaning and Mechanism

The relationship between managers and shareholders in the business world cannot be disputable. This relationship is interpreted under Agency Theory. They are very dependent each other, even somehow there exist conflict of interest among these two parties. In example the shareholders put on trust to agency by contributing huge amount of money in terms of paid up capital, so that agency can generate business and obtain profit and increase the firm’s value as principles return. Meanwhile agency (managers) is dependent to the principles for remunerations and bonuses as compensation. Because of the great pressure from principles (shareholders) towards the high performance of firms values, so agency commonly practice earnings management in order to be sustained in market place. Earnings management may involve manipulation of accounting record, intentional omission or intentional misapplication of accounting o accounting principles. Earnings management is defined as the intentional misstatement of earnings leading to bottom line Continue reading

Abey Francis

Process Reengineering – History, Definition and Process Steps

The driving force behind all the changes which are taking place in the all the firm of the world are two Cs: customers, competition. The demands of the customers are changing day by day and this change in demand of customers pose new sets of challenges to the firms every now and then and hence firms have to change or modify their offering to customers accordingly. Firms who are able to do it in less time and less cost turn out to be the industry leaders. Firms set their mission and vision statements on the basis of their short term and long term strategy and to attain those goals firms need to adjust themselves with the constantly changing environment. We have seen dominance of Japanese firms in automobile and electronic components, the reason for this dominance of Japanese firms over other firms round the world is their techniques. They change Continue reading

Abey Francis

Uses and Risks of Personal Data in Big Corporations

Big Data has taken a huge role in art in creating today’s Technological Revolution. It is a phrase coined to describe the exponential volume of data we currently hold. Data is collected from a number of sources including cell phones, applications, databases, servers, etc. In return, it can then be used to find trends, patterns, and connections specifically related to how humans behave along with their interactions. This information includes likes, dislikes, preferences, and search and buyer history and is not limited to personal data such as birthdate, social security number, home address, and much more. Corporations across the globe have found new ways to use this data in everyday business functions. The collection of Big Data can be used to a company’s advantage in marketing, finance, and Government. Despite the fact that in a few situations Big Data can be hard to control, it can possibly enable organizations to Continue reading

Abey Francis

Factors to Consider When Setting Prices

In the narrowest sense, price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that consumers exchange for the benefits of having or using the product or service. Price is the only element in the marketing mix that produces revenue; all other elements represent costs. Price is also one of the most flexible elements of the marketing mix. Unlike product features and channel commitments, price can be changed quickly. At the same time, pricing and price competition is the number one problem facing many marketing executive. Yet, many companies do not handle pricing well. Factors to Consider When Setting Prices A company’s pricing decisions are affected by both internal and external environmental factors. Internal Factors Affecting Pricing Decisions: Internal factors affecting pricing include the company’s marketing objectives, marketing strategy, costs and organizational considerations. 1. Marketing Objectives: Before setting Continue reading

Abey Francis

4 Important Types of Systems

Systems have been classified in different ways. Common classifications are: Physical or abstract systems Open or closed systems Deterministic or probabilistic systems Man-made information systems Physical or Abstract Systems: Physical systems are tangible entities that may be static or dynamic in operation. Abstract systems are conceptual or non-physical entities which may be as straightforward as formulas of relationships among sets of variables or models – the abstract conceptualization of physical situations. Open or Closed Systems: An open system continually interacts with its environments. It receives inputs from and delivers output to the outside. An information system belongs to this category, since it must adapt to the changing demands of the user. In contrast, a closed system is isolated from environmental influences. In reality completely closed systems are rare. Deterministic or Probabilistic Systems: A deterministic system is one in which the occurrence of all events is perfectly predictable. If we get Continue reading

Abey Francis