Corporate Management – HKT Consultant

Running any business is a matter of much dedication, strategy planning as well as having an eye for detail. With proper coordination of your ideas, you can ensure that the company thrives. There are different kinds of business. While some are termed as start-ups, and the others are called entrepreneurship.

2 Comments

Economics of the Firm

Economics of the Firm focuses on the economic issues and problems related to business organization, management, and strategy. Issues and problems include: an explanation of why corporate firms emerge and exist; why they expand: horizontally, vertically and spacially; the role of entrepreneurs and entrepreneurship; the significance of organizational structure; the

1 Comment

Firm Strategy and Strategic Management

In the field of management, a firm strategy is a comprehensive plan to achieve its goals in the face of these conditions. Strategy defines how a firm will achieve long-term success. Strategy is defined as “the determination of the basic long-term goals of an enterprise, and the adoption of courses

1 Comment

Human Resource Management and Organizational Culture

Human resource management (HRM or HR) is the strategic approach to the effective management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer’s strategic objectives. Human resource management is primarily concerned with the management of people

3 Comments

Corporate Marketing Management

13/12/2017

Corporate Marketing refers to activities a company undertakes to promote the buying or selling of a product, service, or good. It is one of the primary components of business management and commerce. Marketers can direct their product to other businesses (B2B marketing) or directly to consumers (B2C marketing). Regardless of

4 Comments

Sales Management: Meaning, Objectives, Functions, Scope, Process, Determinants, Tools and Other Details

03/01/2018

Sales management is a business discipline which is focused on the practical application of sales techniques and the management of a firm’s sales operations. It is an important business function as net sales through the sale of products and services and resulting profit drive most commercial business. These are also typically the goals and performance indicators of sales management. Sales manager is the typical title of someone

3 Comments

Retail Management: Definition, Processes, Best Practices

03/01/2018

Retail Management is the process which helps the customers to procure the desired merchandise form the retail stores for their personal use. It includes all the steps required to bring the customers into the store and fulfill their buying needs. Such management saves time and ensures the customers easily locate

4 Comments

Production Management : Definition, Function and Scope

04/01/2018

Production Management, also called operations management, refers to the application of management principles to the production function in a factory. In other words, it involves application of planning, organizing, directing and controlling the production process. Its techniques are employed in service as well as in manufacturing industries. It is a

3 Comments

Quality Management – Understanding how does it improve firm performance

04/01/2018

Quality management is a recent phenomenon but important for an organization. Civilizations that supported the arts and crafts allowed clients to choose goods meeting higher quality standards rather than normal goods. In societies where arts and crafts are the responsibility of master craftsmen or artists, these masters would lead their

3 Comments

International Business – Meaning, Process, Types & Factors

05/01/2018

International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale. It involves cross-border transactions of goods and services between two or more countries. Transactions of economic resources include capital, skills, and people for the purpose of the international production of physical goods and

3 Comments

E-commerce Business: How to Build, Launch, and Grow a Profitable Online Store

07/01/2018

E-commerce (also known as electronic commerce) Business is the process of buying and selling of products or services, making money transfers, and transferring data over an electronic medium (Internet). This network allows people to do business without the constraint of distance and time. There are various types of online business

4 Comments

Enterprise Project Management: meaning, benefits, process and best practices

08/01/2018

Traditional project management is the process of leading the work of a team to achieve goals and meet success criteria at a specified time. Enterprise project management puts the focus on the enterprise, prioritizing and highlighting its business goals and managing and grouping projects to ensure they meet those broader organizational

3 Comments

Logistics Management: meaning, functions, importance, process and best practices

08/01/2018

Logistics refers to the overall process of managing how resources are acquired, stored, and transported to their final destination. Logistics management involves identifying prospective distributors and suppliers and determining their effectiveness and accessibility. This is the process of strategically managing the procurement, movement and storage of materials, parts and finished

4 Comments

Supply Chain and Supply Chain Management

08/01/2018

A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. This network includes different activities, people, entities, information, and resources. The chain also represents a series of steps involved to get a product or service to the

4 Comments

Management Information System

15/01/2018

Management Information System (MIS) is the study of people, technology, organizations, and the relationships among them. MIS professionals help firms realize maximum benefit from investment in personnel, equipment, and business processes. MIS is a people-oriented field with an emphasis on service through technology. If you have an interest in technology

3 Comments

What is Corporate Finance? Fundamentals, Principles and Features

16/01/2018

Corporate finance refers to activities and transactions related to raising capital for the creation, development and acquisition of a business. It is directly related to company decisions which have financial or monetary impacts. It can be considered as a liaison between the capital market and the organisation. The corporate finance

3 Comments

Stock market: functioning and investments

28/01/2018

The stock market refers to public markets that exist for issuing, buying, and selling stocks that trade on a stock exchange or over-the-counter. Stocks, also known as equities, represent fractional ownership in a company, and the stock market is a place where investors can make investments by buying and selling

4 Comments

Corporate accounting: definition, functions and branches

04/02/2018

Definition and principles of corporate accounting Corporate accounting is a process, which systematically and comprehensively records business events and transactions, and translate it into the financial information of the business entity to assist the stakeholders in the decision-making process. In this process, the transactions are identified, recorded, arranged, summarized, simplified

3 Comments

Office Management: definition, types, process, jobs and best practices

09/02/2018

Office management is a profession involving the design, implementation, evaluation, and maintenance of the process of work within an office or other organization, in order to sustain and improve efficiency and productivity. It is thus a part of the overall administration of business and since the elements of management are forecasting and planning, organising, command, control and coordination, the

5 Comments

Management ScienceSee all

Corporate Management Science: scope and main contents

13/12/2018

Corporate management science is the broad interdisciplinary study of problem solving and decision making in human organizations, with strong links to management, economics, business, engineering, management consulting, and other fields. It uses various scientific research-based principles, strategies, and analytical methods including mathematical modeling, statistics and numerical algorithms to improve an

MicroeconomicsSee all

Microeconomics: Introduction to Supply and Demand

13/02/2018

Microeconomics (from Greek prefix mikro- meaning “small” + economics) is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and

Theories of the firmSee all

Definition of Theory of the Firm

05/02/2019

By definition, a theory of the firm is an analysis of the behavior of companies that examine inputs, production methods, output and prices. This is a microeconomic concept that states that a firm exists and make decisions to maximize profits by creating a gap between revenue and costs. The first elementary examination

Managing productivity and quality

1. Managing Productivity Productivity is significant because it influences the well-being of the entire society as well as of individual companies. The only way to

The Changing Philosophy of Control

Managers’ approach to control is changing in many of today’s organizations. In connection with the shift to employee participation and empowerment, many companies are adopting

Financial Control

In every organization, managers need to watch how well the organization is performing finan- cially. Not only do financial controls tell whether the organization is

Feedback Control Model

All well-designed control systems involve the use of feedback to determine whether performance meets established standards. In this section, we will examine the key steps

Introduction to Organizational Control

1. The Meaning of Control It seemed like a perfect fit. In the chaotic aftermath of 2005’s Hurricane Katrina, the Ameri- can Red Cross needed

Work Team Effectiveness

Teams are the building blocks of today’s organizations, but not all teams are effective. Teams often do not live up to their potential or to

Private Preferences for Public Goods

Government production of a public good is advantageous because the government can assess taxes or fees to pay for it. But how can government determine

Public Goods

We have seen that externalities, including common-property resources, create mar- ket inefficiencies that sometimes warrant government regulation. When, if ever, should governments replace private firms

Common Property Resources

Occasionally externalities arise when resources can be used without payment. Common property resources are those to which anyone has free access. As a result, they

Externalities and Property Rights

We have seen how government regulation can deal with the inefficiencies that arise from externalities. Emissions fees and transferable emissions permits work because they change

Stock Externalities

We have studied the negative externalities that result directly from flows of harmful pollution. For example, we saw how sulfur dioxide emissions from power plants

Ways of Correcting Market Failure

How can the inefficiency resulting from an externality be remedied? If the firm that generates the externality has a fixed-proportions production technology, the externality can

Systems Theory

Systems theory is the interdisciplinary study of systems. A system is a cohesive group of interrelated and interdependent parts which can be natural or human-made. Every system is bounded by space and

Organizational learning theory

Organizational learning theory states that, in order to be competitive in a changing environment, organizations must change their goals and actions to reach those goals.

Hyper-competition theory

The hyper-competition theory analyzes the rapid and dynamic competition characterized by unsustainable advantage. It is the condition of rapid escalation of competition based on price-quality

Resource-based theory

According to resource-based theory, organizations that own “strategic resources” have important competitive advantages over organizations that do not. Some resources, such as cash and trucks,

Transaction Cost Economics

In transaction cost economics and related disciplines, a transaction cost is a cost incurred in making an economic exchange. A number of different kinds of

Theory of Organizational structure

An organizational structure defines how activities such as task allocation, coordination, and supervision are directed toward the achievement of organizational aims. According to the Theory of Organizational structure, organizational

Theory of Organizational Power

Max Weber (1947) in his classical organization theory exemplified power in an organization through the process of control. Weber related authority to legitimacy, implying that

Decision Theory

Decision theory (or the theory of choice not to be confused with choice theory) is the study of an agent’s choices. Decision theory can be broken into two branches: normative one,

Agency Theory

Agency theory is a principle that is used to explain and resolve issues in the relationship between business principals and their agents. Most commonly, that

Theory of the Visible Hand

The theory of the visible hand of Alfred D. Chandler determined that it was not the invisible hand of the market that determined corporate effectiveness

Theory of Competitive Advantage

Michael Porter proposed the theory of competitive advantage in 1985. The competitive advantage theory suggests that states and businesses should pursue policies that create high-quality

Evolutionary Theory of the Firm

Nelson and Winter argue that an evolutionary theory of organization is a superior description of firm behavior than orthodox views around optimization and that routines

Organizational Ecology Theory

Organizational ecology theory examines how organizational populations change and develop over time through stages of founding, growth, transformation, decline, and death (Hannan & Freeman, 1977,

Behavioral theory of the firm

The behavioral theory of the firm first appeared in the 1963 book A Behavioral Theory of the Firm by Richard M. Cyert and James G. March. The work

Contingency Theory

A contingency theory is a theory of the firm that claims that there is no best way to organize a corporation, to lead a company, or

Institutional Theory