CHANGE KALEIDOSCOPE

Change Kaleidoscope model developed by Hope Hailey & Balogun composes of outer ring and inner ring. The outer ring indicates organization contextual features which are time, scope, preservation, diversity, capability, capacity, readiness, and power. Whereas inner ring provides design or implementing choices which are change path, change

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COMPARISON OF CLASSICAL AND BEHAVIORAL APPROACHES TOSEE MORE ON

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LOCATION STRATEGY IN OPERATIONS Location Strategy in Operations Management. The location of a plant or facility is the geographical positioning of an operation relative to the input resources and other operations or customers with which it interacts. Three main reasons are identified why a location strategy is required. The first reason is that a new company has been created FOREIGN EXCHANGE RISK MANAGEMENT BY BANKS Exchange Dealings When the foreign currency denominated assets and liabilities are held, by the banks or the business concern, two types of risks are faced. Firstly, the risk that the exchange rates may vary and the change may affect the cash flows/profits. This is known as exchange risk. Secondly, the interest rate may vary and Continue

reading

KEYNESIAN VIEW OF INFLATION Keynesian View of Inflation. John Maynard Keynes, one of the most influential economists of the 20th century, relates inflation to a price level that comes into existence after the stage of full employment. While, the quantity approach emphasizes the volume of money to be responsible for rise in the price level. Keynes distinguishes between two FOUR TYPES OF ENTREPRENEURS ACCORDING TO CLARENCE DANHOF An interesting distinction about types of entrepreneurs is the one proposed by the author Clarence Danhof, which classified entrepreneurs into four groups based on economic development. He based his classification on his study of American agriculture, and he observed that entrepreneurs could be classified depending upon the level of willingness to create innovative ideas; so Continue reading CASE STUDY: SAMSUNG’S INNOVATION DIFFERENCE BETWEEN CAREER PLANNING AND CAREER DEVELOPMENT Broadly, the term career is referred to an individual’s entire work life. In a narrow sense, it can be defined as the succession of jobs and or ranks held by a person in a particular organisation. An individual’s career begins with placement in a job and ends with

departure from the

CASE STUDY: AMAZON'S COMPETITIVE Amazon.com is a multinational E commerce company, which was founded by Jeff Bezos who is considered to be one of the world’s top innovative executives. Amazon.com started as an online bookstore and expanded with time to sell almost everything. The role of information system in this company is a leading role, because the company is Continue

reading

OPPORTUNITY COST

Opportunity cost analysis is an important part of a company’s decision-making processes, but is not treated as an actual cost in any financial statement. While the term opportunity cost has its roots in economics, it’s also a very important concept in the investment world. It’s a model that can be applied to our everyday Continue

reading

CHANGE KALEIDOSCOPE

Change Kaleidoscope model developed by Hope Hailey & Balogun composes of outer ring and inner ring. The outer ring indicates organization contextual features which are time, scope, preservation, diversity, capability, capacity, readiness, and power. Whereas inner ring provides design or implementing choices which are change path, change

start

COMPARISON OF CLASSICAL AND BEHAVIORAL APPROACHES TOSEE MORE ON

MBAKNOL.COM

LOCATION STRATEGY IN OPERATIONS Location Strategy in Operations Management. The location of a plant or facility is the geographical positioning of an operation relative to the input resources and other operations or customers with which it interacts. Three main reasons are identified why a location strategy is required. The first reason is that a new company has been created FOREIGN EXCHANGE RISK MANAGEMENT BY BANKS Exchange Dealings When the foreign currency denominated assets and liabilities are held, by the banks or the business concern, two types of risks are faced. Firstly, the risk that the exchange rates may vary and the change may affect the cash flows/profits. This is known as exchange risk. Secondly, the interest rate may vary and Continue

reading

KEYNESIAN VIEW OF INFLATION Keynesian View of Inflation. John Maynard Keynes, one of the most influential economists of the 20th century, relates inflation to a price level that comes into existence after the stage of full employment. While, the quantity approach emphasizes the volume of money to be responsible for rise in the price level. Keynes distinguishes between two FOUR TYPES OF ENTREPRENEURS ACCORDING TO CLARENCE DANHOF An interesting distinction about types of entrepreneurs is the one proposed by the author Clarence Danhof, which classified entrepreneurs into four groups based on economic development. He based his classification on his study of American agriculture, and he observed that entrepreneurs could be classified depending upon the level of willingness to create innovative ideas; so Continue reading CASE STUDY: SAMSUNG’S INNOVATION DIFFERENCE BETWEEN CAREER PLANNING AND CAREER DEVELOPMENT Broadly, the term career is referred to an individual’s entire work life. In a narrow sense, it can be defined as the succession of jobs and or ranks held by a person in a particular organisation. An individual’s career begins with placement in a job and ends with

departure from the

CASE STUDY: AMAZON'S COMPETITIVE Amazon.com is a multinational E commerce company, which was founded by Jeff Bezos who is considered to be one of the world’s top innovative executives. Amazon.com started as an online bookstore and expanded with time to sell almost everything. The role of information system in this company is a leading role, because the company is Continue

reading

OPPORTUNITY COST

Opportunity cost analysis is an important part of a company’s decision-making processes, but is not treated as an actual cost in any financial statement. While the term opportunity cost has its roots in economics, it’s also a very important concept in the investment world. It’s a model that can be applied to our everyday Continue

reading

CO-BRANDING

Co-branding is a marketing arrangement to utilize multiple brand names on a single product or service. Basically, it involves combining two or more well-known brands into a single product. The constituent brands can assist each other in achieving their objectives. INTRODUCTION TO CUSTOMER RELATIONSHIP MANAGEMENT (CRM Customer relationship management (CRM) is a business strategy that spans your entire organization from front office to back-office. It is a commitment you make to put customers at the heart of your enterprise. The right CRM strategy and solutions can help you securely, reliably and consistently:. Delight your customers every time they interact with your business by empowering them with anytime BEST FIT AND BEST PRACTICE APPROACHES IN STRATEGIC HRM The concepts of ‘best fit’ and ‘best practice’ are two well known approaches to human resource management.The ‘best fit’ perspective claims that HR strategy become more and more efficient when it is linked to its environment of the business.It explores the close link between strategic management and HRM by assessing the extend to which there is a vertical integration between an HARVARD FRAMEWORK FOR HUMAN RESOURCE Harvard framework for Human resource management offered by Beer et al (1984) is practiced by solving the problems of historical personal management basically when general managers come-up with an idea of how they want to see employees participant and how they are imparted with one knowledge or the other by the organisation, and of what policies and practices of HRM that may achieve the THIS IS HOW VIDEO MARKETING CAN GROW YOUR BUSINESS 4. Video drive traffic and engagement. A higher rank on Google means more visibility which, in turn, gets more organic traffic to your website. Creating short and engaging videos is one of the many ways to move your audience from the awareness stage to the purchase stage of your marketing funnel. ETHICAL ISSUES IN MARKETING Categorizing Ethical Issues in Marketing. Ethical issues in marketing can be categorized as follows: Unethical Product and Distribution Practices – Several product-related issues, especially regarding the quality of products and services raise questions about ethical conduct in marketing. The most frequent complaints are voiced regarding the products which are of unsafe nature. STAKEHOLDER EXPECTATIONS AND CORPORATE SOCIAL Stakeholder Expectations and Corporate Social Responsibility (CSR) Stakeholder theory is both related to and distinct from work within corporate social responsibility (CSR) because the stakeholders are the claimant of anything that reflected the firm’s decisions. CSR encompasses the wide proposition that business organizations have to ethically responsible beyond maximizing profit for

OPPORTUNITY COST

Opportunity cost analysis is an important part of a company’s decision-making processes, but is not treated as an actual cost in any financial statement. While the term opportunity cost has its roots in economics, it’s also a very important concept in the investment world. It’s a model that can be applied to our everyday Continue

reading

ALIGNING BUSINESS ETHICS AND CORPORATE SOCIAL History tells us that ethics generate trust. But before anything else, ethics create a reputation, which in turn develops the elements of trust between people. The thrust of intensive ethical attention in business is brought about by the growing power of consumers towards businesses. Gone are the days when they would just buy products based

Continue reading

SHAREHOLDER WEALTH MAXIMIZATION VS. STAKEHOLDER INTEREST Until now, the discussion between shareholder value perspective and stakeholder perspective has still been argued critically. Some people think that stakeholder interest should be superior over shareholder wealth maximization, but others argue that shareholder wealth maximization should be the prime concern. However, it is obvious to realize that shareholder wealth maximization is the COMPARISON OF CLASSICAL AND BEHAVIORAL APPROACHES TOSEE MORE ON

MBAKNOL.COM

INNOVATION MANAGEMENT Innovation management is the mantra that facilitates the smooth flow and distribution of innovation of the individuals, groups or teams across the organization in certain ways that directly affects the performance and potential levels.. Precisely, Innovation Management aims at getting the right information within the right context to the right person at the right time for the right business MANAGERIAL SKILLS AND ROLES The ten roles are divided into three groups: Interpersonal; Informational; Decisional; The performance of managerial roles and the requirements of these roles can be played at different times by the same manager and to different degrees depending on the level and function of management.The ten roles are described individually, but they form an integrated whole. FOUR MAJOR THEORIES OF TRAINING AND DEVELOPMENT There are several theories which emphasize on the importance of training and development in the organization and provides different alternative methods for training and development. A discussion of four major theories of training and development is given in this article. THREE MODELS OF EMOTIONAL INTELLIGENCE Emotional intelligence is often times measured using the Emotional Intelligence quotient (EQ) which is more of a description of the capacity or ability to perceive, then assess and eventually manage one’s own and others emotions, To date there are mainly three emotional intelligence models which include: 1. The Trait Emotional

Intelligence Model.

FOUR COMPONENTS OF EMOTIONAL INTELLIGENCE Goleman’s Model: Four Components of Emotional Intelligence. Emotional Intelligence consists of two kinds of abilities. The vertical axis describes awareness vs. behavior. “What You See” (left column) is the ability to recognize and understand emotions in yourself and in others and “What You Do” (right column) is the ability to manage your own emotions and behaviors to interact CASE STUDY: AMAZON'S COMPETITIVE Amazon.com is a multinational E commerce company, which was founded by Jeff Bezos who is considered to be one of the world’s top innovative executives. Amazon.com started as an online bookstore and expanded with time to sell almost everything. The role of information system in this company is a leading role, because the company is Continue

reading

SELECTION CRITERIA FOR INTERNATIONAL ASSIGNMENTS IMPORTANCE OF CREATIVITY AND INNOVATION IN Creativity is the heart of entrepreneurship and innovation is the oxygen that is keeping it alive. Creativity needs a spark and innovation needs fuel. These are provided in the form of physical rewards and generation of wealth; money. Money has been blamed for many things, and most of the times rightly so, however, together with

an inherited

INTERNAL AND EXTERNAL FACTORS INFLUENCING RECRUITMENT But if the image of the organization is good than human resources management department has to put less effort will recruitment. Political, social and legal environment: The environment of the organization is also an influencing factor for the recruiting. An organization has sound political, social and legal environment. COMPARISON OF CLASSICAL AND BEHAVIORAL APPROACHES TOSEE MORE ON

MBAKNOL.COM

INNOVATION MANAGEMENT Innovation management is the mantra that facilitates the smooth flow and distribution of innovation of the individuals, groups or teams across the organization in certain ways that directly affects the performance and potential levels.. Precisely, Innovation Management aims at getting the right information within the right context to the right person at the right time for the right business MANAGERIAL SKILLS AND ROLES The ten roles are divided into three groups: Interpersonal; Informational; Decisional; The performance of managerial roles and the requirements of these roles can be played at different times by the same manager and to different degrees depending on the level and function of management.The ten roles are described individually, but they form an integrated whole. FOUR MAJOR THEORIES OF TRAINING AND DEVELOPMENT There are several theories which emphasize on the importance of training and development in the organization and provides different alternative methods for training and development. A discussion of four major theories of training and development is given in this article. THREE MODELS OF EMOTIONAL INTELLIGENCE Emotional intelligence is often times measured using the Emotional Intelligence quotient (EQ) which is more of a description of the capacity or ability to perceive, then assess and eventually manage one’s own and others emotions, To date there are mainly three emotional intelligence models which include: 1. The Trait Emotional

Intelligence Model.

FOUR COMPONENTS OF EMOTIONAL INTELLIGENCE Goleman’s Model: Four Components of Emotional Intelligence. Emotional Intelligence consists of two kinds of abilities. The vertical axis describes awareness vs. behavior. “What You See” (left column) is the ability to recognize and understand emotions in yourself and in others and “What You Do” (right column) is the ability to manage your own emotions and behaviors to interact CASE STUDY: AMAZON'S COMPETITIVE Amazon.com is a multinational E commerce company, which was founded by Jeff Bezos who is considered to be one of the world’s top innovative executives. Amazon.com started as an online bookstore and expanded with time to sell almost everything. The role of information system in this company is a leading role, because the company is Continue

reading

SELECTION CRITERIA FOR INTERNATIONAL ASSIGNMENTS IMPORTANCE OF CREATIVITY AND INNOVATION IN Creativity is the heart of entrepreneurship and innovation is the oxygen that is keeping it alive. Creativity needs a spark and innovation needs fuel. These are provided in the form of physical rewards and generation of wealth; money. Money has been blamed for many things, and most of the times rightly so, however, together with

an inherited

INTERNAL AND EXTERNAL FACTORS INFLUENCING RECRUITMENT But if the image of the organization is good than human resources management department has to put less effort will recruitment. Political, social and legal environment: The environment of the organization is also an influencing factor for the recruiting. An organization has sound political, social and legal environment. INNOVATION MANAGEMENT Innovation management is the mantra that facilitates the smooth flow and distribution of innovation of the individuals, groups or teams across the organization in certain ways that directly affects the performance and potential levels.. Precisely, Innovation Management aims at getting the right information within the right context to the right person at the right time for the right business MANAGERIAL SKILLS AND ROLES The ten roles are divided into three groups: Interpersonal; Informational; Decisional; The performance of managerial roles and the requirements of these roles can be played at different times by the same manager and to different degrees depending on the level and function of management.The ten roles are described individually, but they form an integrated whole.

CO-BRANDING

Co-branding is a marketing arrangement to utilize multiple brand names on a single product or service. Basically, it involves combining two or more well-known brands into a single product. The constituent brands can assist each other in achieving their objectives. THIS IS HOW VIDEO MARKETING CAN GROW YOUR BUSINESS 4. Video drive traffic and engagement. A higher rank on Google means more visibility which, in turn, gets more organic traffic to your website. Creating short and engaging videos is one of the many ways to move your audience from the awareness stage to the purchase stage of your marketing funnel. FOUR MAJOR THEORIES OF TRAINING AND DEVELOPMENT There are several theories which emphasize on the importance of training and development in the organization and provides different alternative methods for training and development. A discussion of four major theories of training and development is given in this article. ETHICAL ISSUES IN MARKETING Categorizing Ethical Issues in Marketing. Ethical issues in marketing can be categorized as follows: Unethical Product and Distribution Practices – Several product-related issues, especially regarding the quality of products and services raise questions about ethical conduct in marketing. The most frequent complaints are voiced regarding the products which are of unsafe nature. SELECTION CRITERIA FOR INTERNATIONAL ASSIGNMENTS 7. Leadership Ability. The ability to influence people to act in a particular way-leadership-is another important criterion in selecting managers for an international assignment. Determining whether a person who is an effective leader in the home country will be equally effective in an overseas environment can be difficult, however. STAKEHOLDER EXPECTATIONS AND CORPORATE SOCIAL Stakeholder Expectations and Corporate Social Responsibility (CSR) Stakeholder theory is both related to and distinct from work within corporate social responsibility (CSR) because the stakeholders are the claimant of anything that reflected the firm’s decisions. CSR encompasses the wide proposition that business organizations have to ethically responsible beyond maximizing profit for ALIGNING BUSINESS ETHICS AND CORPORATE SOCIAL History tells us that ethics generate trust. But before anything else, ethics create a reputation, which in turn develops the elements of trust between people. The thrust of intensive ethical attention in business is brought about by the growing power of consumers towards businesses. Gone are the days when they would just buy products based

Continue reading

SHAREHOLDER WEALTH MAXIMIZATION VS. STAKEHOLDER INTEREST Until now, the discussion between shareholder value perspective and stakeholder perspective has still been argued critically. Some people think that stakeholder interest should be superior over shareholder wealth maximization, but others argue that shareholder wealth maximization should be the prime concern. However, it is obvious to realize that shareholder wealth maximization is the COMPARISON OF CLASSICAL AND BEHAVIORAL APPROACHES TOSEE MORE ON

MBAKNOL.COM

INNOVATION MANAGEMENT Innovation management is the mantra that facilitates the smooth flow and distribution of innovation of the individuals, groups or teams across the organization in certain ways that directly affects the performance and potential levels.. Precisely, Innovation Management aims at getting the right information within the right context to the right person at the right time for the right business MANAGERIAL SKILLS AND ROLES The ten roles are divided into three groups: Interpersonal; Informational; Decisional; The performance of managerial roles and the requirements of these roles can be played at different times by the same manager and to different degrees depending on the level and function of management.The ten roles are described individually, but they form an integrated whole. FOUR MAJOR THEORIES OF TRAINING AND DEVELOPMENT FOUR COMPONENTS OF EMOTIONAL INTELLIGENCE THREE MODELS OF EMOTIONAL INTELLIGENCE Emotional intelligence is often times measured using the Emotional Intelligence quotient (EQ) which is more of a description of the capacity or ability to perceive, then assess and eventually manage one’s own and others emotions, To date there are mainly three emotional intelligence models which include: 1. The Trait Emotional

Intelligence Model.

CASE STUDY: AMAZON'S COMPETITIVE Amazon.com is a multinational E commerce company, which was founded by Jeff Bezos who is considered to be one of the world’s top innovative executives. Amazon.com started as an online bookstore and expanded with time to sell almost everything. The role of information system in this company is a leading role, because the company is Continue

reading

SELECTION CRITERIA FOR INTERNATIONAL ASSIGNMENTS IMPORTANCE OF CREATIVITY AND INNOVATION IN Creativity is the heart of entrepreneurship and innovation is the oxygen that is keeping it alive. Creativity needs a spark and innovation needs fuel. These are provided in the form of physical rewards and generation of wealth; money. Money has been blamed for many things, and most of the times rightly so, however, together with

an inherited

INTERNAL AND EXTERNAL FACTORS INFLUENCING RECRUITMENT But if the image of the organization is good than human resources management department has to put less effort will recruitment. Political, social and legal environment: The environment of the organization is also an influencing factor for the recruiting. An organization has sound political, social and legal environment. COMPARISON OF CLASSICAL AND BEHAVIORAL APPROACHES TOSEE MORE ON

MBAKNOL.COM

INNOVATION MANAGEMENT Innovation management is the mantra that facilitates the smooth flow and distribution of innovation of the individuals, groups or teams across the organization in certain ways that directly affects the performance and potential levels.. Precisely, Innovation Management aims at getting the right information within the right context to the right person at the right time for the right business MANAGERIAL SKILLS AND ROLES The ten roles are divided into three groups: Interpersonal; Informational; Decisional; The performance of managerial roles and the requirements of these roles can be played at different times by the same manager and to different degrees depending on the level and function of management.The ten roles are described individually, but they form an integrated whole. FOUR MAJOR THEORIES OF TRAINING AND DEVELOPMENT THREE MODELS OF EMOTIONAL INTELLIGENCE Emotional intelligence is often times measured using the Emotional Intelligence quotient (EQ) which is more of a description of the capacity or ability to perceive, then assess and eventually manage one’s own and others emotions, To date there are mainly three emotional intelligence models which include: 1. The Trait Emotional

Intelligence Model.

FOUR COMPONENTS OF EMOTIONAL INTELLIGENCE CASE STUDY: AMAZON'S COMPETITIVE Amazon.com is a multinational E commerce company, which was founded by Jeff Bezos who is considered to be one of the world’s top innovative executives. Amazon.com started as an online bookstore and expanded with time to sell almost everything. The role of information system in this company is a leading role, because the company is Continue

reading

SELECTION CRITERIA FOR INTERNATIONAL ASSIGNMENTS IMPORTANCE OF CREATIVITY AND INNOVATION IN Creativity is the heart of entrepreneurship and innovation is the oxygen that is keeping it alive. Creativity needs a spark and innovation needs fuel. These are provided in the form of physical rewards and generation of wealth; money. Money has been blamed for many things, and most of the times rightly so, however, together with

an inherited

INTERNAL AND EXTERNAL FACTORS INFLUENCING RECRUITMENT But if the image of the organization is good than human resources management department has to put less effort will recruitment. Political, social and legal environment: The environment of the organization is also an influencing factor for the recruiting. An organization has sound political, social and legal environment. INNOVATION MANAGEMENT Innovation management is the mantra that facilitates the smooth flow and distribution of innovation of the individuals, groups or teams across the organization in certain ways that directly affects the performance and potential levels.. Precisely, Innovation Management aims at getting the right information within the right context to the right person at the right time for the right business MANAGERIAL SKILLS AND ROLES The ten roles are divided into three groups: Interpersonal; Informational; Decisional; The performance of managerial roles and the requirements of these roles can be played at different times by the same manager and to different degrees depending on the level and function of management.The ten roles are described individually, but they form an integrated whole.

CO-BRANDING

Co-branding is a marketing arrangement to utilize multiple brand names on a single product or service. Basically, it involves combining two or more well-known brands into a single product. The constituent brands can assist each other in achieving their objectives. THIS IS HOW VIDEO MARKETING CAN GROW YOUR BUSINESS 4. Video drive traffic and engagement. A higher rank on Google means more visibility which, in turn, gets more organic traffic to your website. Creating short and engaging videos is one of the many ways to move your audience from the awareness stage to the purchase stage of your marketing funnel. FOUR MAJOR THEORIES OF TRAINING AND DEVELOPMENT There are several theories which emphasize on the importance of training and development in the organization and provides different alternative methods for training and development. A discussion of four major theories of training and development is given in this article. ETHICAL ISSUES IN MARKETING Categorizing Ethical Issues in Marketing. Ethical issues in marketing can be categorized as follows: Unethical Product and Distribution Practices – Several product-related issues, especially regarding the quality of products and services raise questions about ethical conduct in marketing. The most frequent complaints are voiced regarding the products which are of unsafe nature. SELECTION CRITERIA FOR INTERNATIONAL ASSIGNMENTS 7. Leadership Ability. The ability to influence people to act in a particular way-leadership-is another important criterion in selecting managers for an international assignment. Determining whether a person who is an effective leader in the home country will be equally effective in an overseas environment can be difficult, however. STAKEHOLDER EXPECTATIONS AND CORPORATE SOCIAL Stakeholder Expectations and Corporate Social Responsibility (CSR) Stakeholder theory is both related to and distinct from work within corporate social responsibility (CSR) because the stakeholders are the claimant of anything that reflected the firm’s decisions. CSR encompasses the wide proposition that business organizations have to ethically responsible beyond maximizing profit for ALIGNING BUSINESS ETHICS AND CORPORATE SOCIAL History tells us that ethics generate trust. But before anything else, ethics create a reputation, which in turn develops the elements of trust between people. The thrust of intensive ethical attention in business is brought about by the growing power of consumers towards businesses. Gone are the days when they would just buy products based

Continue reading

SHAREHOLDER WEALTH MAXIMIZATION VS. STAKEHOLDER INTEREST Until now, the discussion between shareholder value perspective and stakeholder perspective has still been argued critically. Some people think that stakeholder interest should be superior over shareholder wealth maximization, but others argue that shareholder wealth maximization should be the prime concern. However, it is obvious to realize that shareholder wealth maximization is the

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Nov 21

UNDERSTANDING DIFFERENT TYPES OF SUPPLY CHAIN RISK Abey Francis Leave a comment

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Supply Chain Management

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There have been many different definitions of supply chain risk, but it can be broadly defined as the variation in the distribution of possible supply chain outcomes, their likelihood, and their subjective values. However, this definition has since been expanded upon to account for all the different departments and functions that operate within a supply chain. This leads to an overall definition of supply chain risk as any risks for the information, material and product flows from original supplier to the delivery of the final product for the end user. Simply put, supply chain risk refers to the probability of a risk event occurring the supply line and when the product goes on sale.… Read the rest

Nov 20

SUPPLY CHAIN INTEGRATION STRATEGIES – VERTICAL AND HORIZONTAL

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Supply Chain Management (SCM) is defined as the integration strategies aimed at coordinating functions across suppliers, manufacturers, distributors and retailers to ensure that products and services are produced and distributed at the right volume, location and time with the aim of reducing operational costs, maximizing profits and ensuring satisfaction across the supply chain. Supply chain integration strategies are network-based business models used by organizations to align strategic decisions and processes across the network from supplier/manufacturer end to the customer end in order to achieve competitive advantages, synergy and efficiency in their operations as well as to gain more control in the input and output of their operations.… Read the rest

Nov 20

RISK MANAGEMENT IN BUSINESS Abey Francis Leave a comment

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Kaplan and Garrick (1981, p. 12) provide a simple equation for risk, which is “risk = uncertainty + damage”. They believe that it is irrelevant as to what context risk exists in, and that the same equation can always be used to identify and manage risk. However, risk can still be categorized differently depending on what facet of the organization it is affecting. Before a risk management strategy can be decided upon, the risk event must first be identified. An organization should conduct three steps before deciding on the best risk management strategy to use. As risk management can use a substantial amount of resources, clarification and direction should be decided upon before conducting risk management.… Read the rest

Nov 19

UNDERSTANDING THE IMPORTANCE OF INTERNATIONAL BUSINESS STRATEGY Abey Francis Leave a comment

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International Business Strategies The survival and progression of businesses in the 21st century is highly dependent on the ability of firms to expand beyond their national borders, taking into account the cost effectiveness of expansion and the complexity and risks associated with the company’s chosen international business strategy. The resources and objectives of a firm, as well as the demand for their product outside their national borders are important in taking the decision to globalize a company’s products and/or services. Although three strategies are more common, namely multi domestic, global and transnational approaches, the fourth strategy available to firms is the international approach to global expansion.… Read the rest

Nov 17

EMPLOYEE PARTICIPATION AND ORGANIZATION PERFORMANCE Abey Francis Leave a comment

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Management Approaches In the first instance is necessary to define both employee participation as well as what is meant by performance. Employee participation may be defined as the process by which employees are involved in the decision making process of a business rather than merely being expect to following instructions and as such this forms what is referred to in HR as empowerment. Performance on the other hand can be considered from two perspectives, firstly there is the performance of the individual in question and how their personal performance is affected by the concept of employee participation. Secondly there is the performance of the organization as a whole to consider and how this will change with varying degrees of employee participation. … Read the rest

Aug 01

PRINCE2 METHODOLOGY IN PROJECT MANAGEMENT Abey Francis Leave a comment

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PRINCE2 is one of the world’s most widely used project management methodology. It was originally developed for UK government IT projects, its use has been widened to large projects of all kinds, and it has been taken up internationally in more countries in both public and private sectors such as police forces, telecommunication companies, banks, as well as other large commercial organisations and also used in enterprise resource planning implementations. PRINCE2 stands for Projects in Controlled Environment and it was developed at a time when the UK government was outsourcing an increasing amount of its work, and the methodology incorporates best practice on the integration of internal teams and external agencies.… Read the rest

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