Sales Logistics A sales, like war, needs a carefully planned approach to succeed. For the success of an organization, it is important that sales should evolve as a well-managed process. Two critical factors that impact sales are territory planning and time planning. Territory Planning Territory Planning aims at matching selling efforts with the sales opportunities [...]
Business
Planning Tips For Real Estate Investment
The saying, ‘timing is everything’ holds good for almost everything, especially for real estate investments. Deploying funds at their peak could be quite detrimental. For example, someone who invested in a 2BHK around mid-2008, would have regretted it when a similar flat was being sold at a 10 to 15 percent lower price this year. [...]
How Can Nascent Entrepreneurs Overcome Financial Constraints?
One might argue that if appropriability of innovation can be ensured, it may help nascent entrepreneurs to overcome the financing problems. While this may be true, one cannot ignore the problem with the present systems of appropriability – namely patent, trademarks, etc. While, on the one hand, some degree of appropriability is being ensured, on [...]
Financial Constraints of Innovative Nascent Entrepreneurs
Why are innovative nascent entrepreneurs financially constrained? This involves three main factors. The first factor is information asymmetries, which arise if the firm has better information about the returns occurring from their investment in intangible assets than do potential investors. Hence, “external finance may be expensive, if available at all, because of adverse selection and [...]
Regional Financial System and Financial Structure of Small Firms
The problem of financial constraints seems to extend beyond the problem of appropriability or innovation. This third study tries to find the factors beyond the firm’s purviewthat may affect firm’s financial choices. It extends the study of capital structure of firms to accommodate regional financial characteristics that are generally discussed in the banking literature. Until [...]
Business trade-offs
In businesses, trade-off situations arise when targets or goals that seem equally important cannot be achieved fully, at the same time. In such situation, companies prioritize ne product or service as more important and necessary than others. As a result, they place more weight on this product or service and may support it with a [...]
Bull whip Effect
As you move across the supply chain from the supplier to the customer, the variability in the demand increases and even small changes in the demand can trigger large variations in the execution of order to the next stage of the supply chain. This variability can result from change in demand, problems in quality of [...]
Ethics for IT Professionals
The following is the Code of Ethics for IT professionals formulated by the Computer Society of India (CSI): 1. As regards his ORGANIZATION an IT professional should : Act with integrity in carrying out the lawful policy and instructions of his organization and uphold its image and reputation Plan, establish and review objectives and tasks [...]
Ethical Conflict
Every system has its policies and procedures. You know what is required for success. However, at times you might be in an internal conflict whether to violate your own sense of what is right and wrong , in order to be successful. In such situations, ethical congruence (balance) is the most desirable alternative. Congruence is [...]
Ethics
Ethics is built on values, which are common to the organization and its employees with regard to what is right, fair and good. Everyone must understand and appreciate this concept. The harmony between organizational and employee ethics is the building block for employee commitment to organizational goals. You must know the sense of rightness, fairness [...]
ROLES IN AN ORGANIZATION
There are several roles available in the IT industry , as illustrated However , in real-life situations, one may not often get a clear-cut role or clearly defined activities for that role. Roles often have a focus and supplementary or additional objectives. For example, a marketing executive may focus on sales, but may also have [...]
UNDERSTANDING ORGANIZATIONS
One of the first things that you must do on joining a new organization is to learn about the various aspects of the organization. In fact, it is advisable to find out details about an organization before you join, or even before you attend the interview. Understanding an organization would give you an idea of [...]
Journalizing
The process of recording voucher details of a transaction in a Journal is called Journalizing and the record thus created is called a journal entry. Transactions are recorded in the Journal according to the type of accounts involved. For example, a journal entry can be made for a cash sale in the Cash Receipts Journal [...]
Journal
Consider the scenario, Larry Williams has identified the accounts that are to be either debited or credited. He needs to record this information in the books of accounts by creating journal entries. In practice, the books of accounts include the Subsidiary books or the Books of Original Entry i.e Purchase Book, Sales Book and the [...]
The Golden Rules of Accounting
Consider the scenario, Larry Williams, the accountant, has identified the accounts involved in different transactions. He needs to apply the golden rules of accounting to identify, which account is debited and which account is credited. There are three golden rules or guidelines to be followed while recording a transaction. Each rule applies to a single [...]
