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

Case Study of FedEx: Leveraging Information Technology to Grow Business

Federal Express is a global express transportation and logistics company that offers customers a single source for global shipping, logistics, and supply chain solutions. It was founded in 1973 by Frederick W. Smith. Since its inception FedEx pioneered the express delivery industry. The company focused on the core business of express delivery and provided overnight delivery services to the customers globally. However, the transformation of businesses and customers from old economy to the new economy forced FedEx to reposition itself from ‘overnight delivery service’ to a ‘one-stop-shop’ for the entire logistics requirement of the business. The company became the logistics service provider of leading organizations, like, General Motors. Background  of FedEx During the late 1960s, Frederick Smith (Smith) chanced upon an idea to start an airline courier company. During this period, it was common practice to send packages as cargo on commercial carriers like American, United or Delta Airlines. This Continue reading

Abey Francis

Difference Between Job Costing and Process Costing

The main objective of manufacturing firms is to make profit. The profit on each product sold is the difference between the selling price of the product and the total cost of making the product. Cost therefore plays an important role in the product design process. To calculate the cost that incurred on the product we use different Costing Techniques. Costing is not an easy task because in the process of manufacturing a product many indirect materials and labor are used. To identify these costs we use different costing techniques. Here we are going to discuss two methods of costing; Job Costing and Process Costing. Job Costing Job Costing is to calculate the costs involved of a business in manufacturing goods. These costs are recorded in ledger accounts throughout the year and are then shown in the final trial balance before the preparing of the manufacturing statement. In a job costing Continue reading

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Resource Based View (RBV) and Sustainable Competitive Advantage

Resource based view (RBV) focuses on the internal factors that contribute to a firm’s growth and performance. It highlights the importance of firm’s resources and capabilities. Both of them will together form a competency that can create a competitive advantage. Resources can also be divided into tangible resources and intangible resources. Capabilities of the firm in utilizing the resources have a big impact on how a firm will be able to stand out among other competitors. Competitive advantage arises when a firm has a lower cost structure, products differentiation and niche markets. RBV also concerns in value creation in order to compete with others. On the other hand, in order to survive in this competitive world, a firm needs to fully prepare itself to achieve sustainable competitive advantage (SCA), which means having a superior performance in a longer term compared to other rivals. According to Jay Barney (1991), resources need Continue reading

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Sources of Attaining Competitive Advantage by a Business Firm

When a firm sustains profits that exceed the average for its industry, the firm is said to possess a competitive advantage over its rivals. A competitive advantage is an advantage over competitors gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices. Competitive advantages are capabilities that are difficult to replicate or imitate and are non-tradable. Pitts and Snow define a competitive advantage as “any feature of a business firm that enables it to earn a high return on investment despite counter pressure from competitors.” A competitive advantage exists when the firm is able to deliver the same benefits as the competitors are but at a lower cost (cost advantage), or deliver benefits that exceed those of competing products (differentiation advantage). Thus, a competitive advantage enables a firm to create superior value for its customers and superior Continue reading

Abey Francis

Advantages and Disadvantages of Starting Up a Business

Currently, the development of market relations implies a free and equal coexistence of various forms of entrepreneurship and sectors within each type of ownership. A special place in the international economy at this stage belongs to start-up businesses. These are small enterprises that do not require large initial investments and guarantee a high rate of turnover of resources that can quickly and economically solve the problems of economic restructuring. The formation and saturation of the consumer markets are the key elements in the current destabilization of the economy. It should be noted that for a highly monopolized economy, the small business acquires paramount importance since it makes a significant contribution to the development of a competitive environment. However, there are both rewarding advantages and serious disadvantages of starting a business, which need consideration. If a person plans to open a business, it is important to consider the upcoming possible gains Continue reading

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Target Markets in a Global Environment

The starting point in selecting the most effective channel arrangement is a clear determination of the target market for the company’s marketing effort and a determination of the needs and preferences of the target market. Where are the potential customers located? What are their information requirements? What are their preferences for service? How sensitive are they to price? These are some of the questions that the channel manager should answer. Customer preference must be carefully determined because there is as much danger to the success of a marketing program in creating too much utility as there is in creating too little. Moreover, each market must be analysed to determine the cost of providing channel services. What is appropriate in one country may not be effective in another. Channel strategy in a global marketing program must fit the company’s competitive position and overall marketing objectives in each national market. If a Continue reading

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