Importance of logistics in supply chain management
- Logistics Management
Growing Importance of Customer Relationship Management in the 21st century The 21st century has seen the focus of the businesses shifting towards the customers. The new customer is playing an empowered role. He is in control, holding the reins and the balance is now tilted on his side. As a result, businesses are trying to … Read more
Ethical business and legal compliance: Starbucks Apart from its great coffee and wonderful customer experience, there are several other things about Starbucks that have helped it outshine the other coffee brands. Employee empowerment and the power of ethics are also behind its reputation. Particularly when it comes to ethics, its focus has always been on … Read more
Were Enron’s financial problems created by its Chief Financial Officer? What was his role in the scandal? Andrew Fastow was the CFO of Enron at the time of the scandal. He had played an active role in the scandal and the department of Justice indicted him on 98 counts. He was charged with fraud, … Read more
Five Sources of power for the leaders: Creating the right influence on followers The intricate link between power and leadership can be understood from the fact that people tend to follow those who hold the reins. People appreciate power and everyone wants to have it. Everyone wants to exercise control over the others and … Read more
In what ways did Enron’s bankers, auditors, and attorneys contribute to Enron’s demise? Enron is dead. The good news is that it has left behind lessons that will be remembered for long. Several factors contributed to the death of Enron. We have discussed its corporate culture and how the weak cultural fabric could not save it from untimely … Read more
What was the role of the corporate culture of Enron in giving rise to the century’s worst financial scandal? How it shaped the disaster that gave birth to the SOX? At the turn of the 21st century, the biggest scandal rocked the financial world. The Enron scandal turned out to be one of the worst cases … Read more
Role of Sender, Message, Channel and Receiver in Persuasive Communication Communication begins from the source. It is the person who sends the message. However, just sending the message does not mean audience will feel persuaded to act. It depends on how the source is going to be perceived by the receiver or the target … Read more
CONTENTS: THREE ELEMENTS OF CULTURE BY SCHEINSIX ELEMENTS OF CULTURE BY COLEMAN Components of Culture: Discussion based on Schein’s Model The importance of culture has been highlighted repeatedly by researchers and scholars. In terms of organization and organizational behavior, culture has acquired a special value. In the 21st century, the focus has shifted towards things … Read more
Jamba Juice case study: The Jamba Juice company at the time it was founded was known as the Juice Club. Five years later, it was renamed Jamba Juice in 1995. The company was initially a made to order smoothie company. However, it had very different plans for the future. Its plan was aggressive expansion. Jamba had planned to … Read more
Is leadership Gender Specific? Since the ancient times, the society has viewed women as followers and not as leaders. However, women have always proved it wrong. Even in history women have set examples by proving themselves great leaders whenever the need occurred. Leadership traits are not gender specific and even women can prove themselves great leaders. In … Read more
Herzberg’s intrinsic/extrinsic factors (hygiene-motivators) Herzberg’s two factor theory is one of the most well known theories of motivation. An extensive amount of research has been conducted based on this theory. The main underlying basis of his theory is that there are factors that cause motivation and those which cause dissatisfaction. There are several factors that the … Read more
Alderfer’s ERG Theory In several aspects while Alderfer’s theory is similar to the one given by Maslow; it redefines Maslow’s theory to simplify it. However, there are some key differences between the two versions. Alderfer gave three key categories of needs. They were E – Existence, R- Relatedness and G for growth needs. One most … Read more
Maslow’s Five Tiered Hierarchy of Needs: The theories of motivation are primarily laid into two categories. The first is that of the content theories. Content theories are mainly concerned with what motivates the people. The process theories on the other hand are concerned with how people are motivated to do certain things. The primary focus … Read more
The five functions of management by Henry Fayol Henry Fayol, a French engineer, was a classic management theorist. He is also well known as the father of modern operational management. Fayol is known for his fourteen principles of management as well as the five functions or elements of management. In this regard, he is sometimes compared … Read more
The Distinction between Content and Process Theories of Motivation Motivation is generally understood as the drive or the desire to do things. Sometimes financial rewards motivate people and sometimes it is just an inner drive to make a difference. People are driven by so many things – by their passion, by the need for money or financial … Read more
Six Dimensions of Culture under the Geert Hofstede model Renowned psychologist Dr Geert Hofstede, conducted one of the most extensive studies on the influence of culture on workplace values. Research has highlighted the importance of culture as a significant force in the context of business. However, Hofstede’s study brought out the features or dimensions of … Read more
Pharmacare Colberia case: Ethics and Corporate Responsibility The Colberia venture of Pharmacare has several stakeholders at its centre but most critical among them are the local residents of Colberia that are at the receiving end. A stakeholder is associated with a project. He can be critical to its success or is influenced by it and its outcome … Read more
A PESTLE analysis of the airline industry: The economic recession in the last decade shook the entire industry. There were very few sectors that could perform well in the face of economic turbulence. Even the airline industry was deeply affected. Except for these economic fluctuations, both the world economy and the global airline industry have been doing … Read more
Collaborative Economy: Pros and Cons Collaborative economy and micropreneurship are among the most talked of topics of the decade. Micropreneurship and microfinance, both are related to collaborative consumption and sharing economy. Microfinance refers to financial aid in the form of financial products and services for the economically backward. This sector has seen dramatic growth during … Read more
What are the sources of innovation? Innovation has become the buzzword of the industry in the 21st century. From business to other areas everywhere innovation is being talked of. Several emerging businesses have proved that innovation can be the way to the top. From Amazon to Google and Facebook, all have proved it. Many times … Read more
CVS health (NYSE: CVS), one of the most outstanding success stories in US healthcare, has seen rapid growth since its foundation. In these 50 years since its foundation, CVS health has achieved enormous presence and reach in US with its 7800 retail stores. Founded in 1964 by Stanley and Sidney Goldstein and Ralph Hoagland, the store was bought by Melville Corporation 5 years later. The company grew by acquiring other drug store chains and is there in nearly every state. In these 5 decades, CVS has grown at a very fast pace. It has opened its health stores in almost every state.
Particularly, its retail stores have proved to be the drivers of its growth. Today, CVS has become the nation’s biggest operator of health clinics and the largest dispenser of prescription drugs. It is also the second largest pharmacy benefits manager and drug store chain. CVS employs 199,000 employees. Its CEO is Larry J Merlo. Its 2015 revenue was $153,290 million and profits $5,237 million. By revenue, it is among the top ten brands in the Fortune 500 list at the seventh position.
PIXAR ANIMATION STUDIOS CASE Study solved: (Dess, Lumpkin & Eisner) BACKGROUND: Pixar emerged as a successful brand name in the animation industry with the release of hits like Toy-story and Cars. With its long trail of blockbuster animation movies, Pixar has acquired the distinct status of a leading animation company. The brand had originated from the computer division … Read more
Blue Ocean Strategy: How did Wii prove a game changer for Nintendo? BLUE OCEAN STRATEGY Innovation is always a great strategy and businesses rather than competing in limited spaces should search for new areas or bring innovative products and services that address new needs. Being caught in traditional areas, trying hard to beat the competition … Read more
The Enron scandal and its collapse occurred in 2001. The scandal proved self-regulation and peer review were insufficient to maintain accounting ethics. As a result, the Sarbanes Oxley Act of 2002 was introduced. The Act came into force after a series of Congressional hearings on the Enron scandal. The scandal had shaken the public’s and investors’ confidence in the capital market, resulting in significant pressure on the Congress to act fast. Introduced in 2002, the Act brought some major changes to corporate governance and regulation of financial practice. SOX was named after the Senators Paul Sarbanes and Representative Michael Oxley who were the most important names behind SOX.
SOX introduced an important requirement- deadline for compliance. The entire Act is arranged into eleven titles. Of these titles, 302,401, 404, 409, 802 and 906 are of particular importance regarding compliance. The act, apart from being appreciated for its focus on accountability and compliance, has also been criticized widely. Many held that the act would lead to a loss of risk taking and competitiveness. However, whenever there is a comparison, the benefits of SOX have far outweighed its disadvantages. Some of the most important changes that the act introduced were targeted at the senior management and the top executives.
The primary aim of the Act was to improve the status of accountability inside the financial organizations. For this purpose, it was essential to target the people in the upper echelons of the organization. Particularly, the act holds the CEO and CFO accountable for several factors. The CEO and the CFO are required to officially certify the appropriateness of the financial statements and disclosures. They should also provide that these documents represent all the finances and operations of the firm fairly. The act also prohibits most types of personal loans to the CEO.
Limitations related to insider trading during certain events are also a part of the act. The Section 404 contains some of the most important requirements related to internal controls. This section requires the companies to assess the effectiveness of their internal controls related to financial reporting. Companies must report regarding this assessment in their annual fillings with the SEC. In case of the off balance sheet transactions there is a need for extra disclosure. SOX introduced certain criminal penalties related to several financial frauds. It increased the term for mail frauds from five to twenty years.
‘SOX’ has been effective and this was proved in the subsequent years. The number of ethical violations in accounting firms has reduced sharply. The condition of accountability in the finance industry has improved. However, along with these improvements the law created some pressures. SOX has also been an object of severe criticism due to it. The internal control mandate of SOX introduced some new costs that could be burdensome for the small companies. The changes the law introduced, resulted in compliance related extra burdens. It is the primary reason that the act has been criticized heavily. Yet, the Enron scandal had already proved that the compliance related requirements could be worth it. Apart from that another major area where the law was able to bring effective changes, was related to the strengthening of the audit committees and corporate governance.
The changes brought about by the SOX can be summed up as follows:
WAL-MART SWOT Analysis – 2016 Presented here is a SWOT analysis of Walmart (NYSE: WMT). Fortune 500 rank – 1 CEO: C. Douglas McMillon Number of Employees: 2,300,000 Competitors: Costco, Target, Amazon, Best Buy, BJ’s Wholesale Club, Ebay [Check Fresh Stats on Walmart for 2018] Go to [SWOT ANALYSIS OF WALMART 2018] Wal-Mart’s business approach has … Read more
A SWOT ANALYSIS of FORD MOTORS 2016 CHECK OUT FORD MOTORS SWOT ANALYSIS 2018 Ford has retained its 9th rank on the Fortune 500 list this year. The business outlook for the brand globally looks great. The motors giant posted its best US sales in 2015 since 2006. Particularly, its F Series trucks proved to be a huge hit … Read more
CEO: Satya Nadella
Reasons behind the fall of Kodak Kodak had a magical rise but an even disastrous fall . It was the leader in photography business, but even the giants fall to the blow of time and while significant changes occurred around, Kodak remained stuck. The company was unwilling to change and there were many reasons behind it. … Read more