Management Sciences

Post date: 06/04/2014 - 01:34

On June 3rd 2014 Federal Finance Minister, Senator Ishaq Dar presented the budget with an outlay of Rs. 3.8 trillion ($39.3 billion) for fiscal year 2014-2015 in the presence of Prime Minister Nawaz Sharif. Revenue estimated for the FY 2014-2015 Rs. 3.943 trillion. Current expenditures estimations for FY 2014-2015 Rs. 3.130 trillion

Post date: 05/07/2014 - 01:41

Imagine that a person is going on a long car trip to an unfamiliar destination without a navigation system or map? Person will pretty sure he have to make some turns here and there, but he have no idea when or where, or how long it will take to reach on the desired destination. He may arrive at destination eventually, but he will have the risk of getting lost, and feeling disappointed, along the way.

Post date: 05/05/2014 - 01:48

Porter's Diamond of National Advantage is a model developed by Michael Porter and this model helps in understanding the comparative position of a nation in global competition. This model can also be used for major geographic regions of a single country. Michael E Porter says that nations or sustained industrial growth can create new advanced factor endowments like skilled management and labor, advance technology, government support and culture.

Post date: 05/05/2014 - 00:19

Bowman's Strategy Clock is a model used by a company while designing marketing strategy to analyze its competitive position in comparison to the offerings of competitors. It is a diagrammatic representation which shows relationship between customer value and prices. Companies use Bowman’s strategy clock as a framework for creating an edge against the competition.

Post date: 05/04/2014 - 03:40

Gantt chart is a type of bar chart which is developed by Henry Gantt in the 1910s, and this chart illustrates a project schedule. Henry Gantt was a engineer and management consultant, he actually designed this chart to help manufacturing supervisors see whether their work was on, ahead of, or behind pre-defined schedule, and it formed the foundation of the Gantt chart tool which many company we use today.

Post date: 04/29/2014 - 04:50

Critical success factor (CSF) is refers to specific activities, procedures or areas that are necessary for an organization or project to achieve its mission and for its continued survival. Critical success factors are unique to each organization and these are required to ensure the success of a project, company or an organization. These key factors reflect the current business and future goals of an organization and can be identified by applying business analytics.

Post date: 04/25/2014 - 01:56

McKinsey 7s Model is a tool designed for the purpose of examining the structural layout of a particular company or business through considering 7 important internal components, namely strategy, structure, systems, shared values, style, staff and finally skills. The reason behind carrying out such process is to make sure that these components are efficiently aligned together, therefore making possible for organization to fulfill its goals.

Post date: 04/24/2014 - 03:23

Pricing is most important part of a company marketing mix strategies. Pricing can help or hinder a company products or services sale. Every company sell either a product or a service, and all companies have to choose the price to sell their products or services at, which is difficult choice than most people realize. Pricing can be defined as the process of determining what a company will receive from its customers in exchange for the products or services it sells.

Post date: 04/23/2014 - 04:28

Business market is the area of exchange between the provider of business arrangements and commercial petitioner-both sides realize some business, which is not the case in the market of individual consumers. It consists of all the organizations that buy goods and services for the production of further products and services for sale and for-profit and non-profit organizations and institutions that buy for their own use or to provide services to others.

Post date: 04/23/2014 - 01:40

“A company’s Vision is a statement expresses its ultimate objectives.” It is very vital for a company to have a clear and attainable long-term vision. Vision is statement that actually guides top level management (every chief executive) manager or other company’s employee in achieving the same organizational objective. A vision statement simply asks ‘What does a company want to become in future?