Top MBA Colleges in Kochi, Kerala | Best MBA Colleges in Kochi, Kerala

Hiring good people is a crucial source for competitive advantage for an organization. And the recruitment procedure can be consequential in deciding the future of the company. Here are the best practices that are advised for recruitment and selection. • Anticipate the need – The companies should anticipate that the top talents are bound to leave and should conduct a proactive analysis of the future needs. A potential pool of talent should be evaluated and periodic forecasts of the company’s needs should be made. • Specify the job – A job analysis is an important part of the job description and should provide the management the information about the complexity, tasks and behaviour related to the job. • Develop the pool – A pool of prospective candidates can be made through internal or external sourcing. Internal sourcing is based in formal planning means like vacancies and retirements, while external sourcing widens the pool of candidate available. • Assess the candidates –...

Fiscal policy is the government’s tax efforts, public expenditure and public borrowing with which the government promotes and exercises control over consumption, investment and saving habits. Here are the key objectives of fiscal policy. • The first and prime objective is to maximize the aggregate saving. This is achieved by encouraging people to reduce the current and future consumption. • Maximization of capital information is referred to as the second objective. The country tries to achieve an accelerated economic growth with this objective. • Third objective is to divert the available resources from the less productive to most productive purposes. This resource allocation also refers to assigning available resources of the economy to specific uses. • Fiscal policy helps protect the economy from inflation from preventing it from consuming the benefits of growth. • The policy also helps remove the sectoral imbalance in the economy during the growth process. • It pr...

The economic environment of a business includes various economic policies, economic system, strategies for economic growth and development, size of market, etc. Among these, the economic policies lay the framework with which an organization has to function. Here are the 4 economic policies that affect business environment. • Fiscal policy – It refers to the government’s tax efforts, public expenditure and public borrowing with which the government encourages consumption, investment and saving habits while also restricting them. • Monetary policy – It is the set of policies implemented by the central bank of a country to control the economic condition. It is the bank’s responsibility to maintain the price level and the money supply in the country. • Foreign trade policy – The policy determines the scope for trade between two countries and also analyses how it directly affects the business prospects of the business organizations. • Price policy – It refers to the controls e...

A business cannot stay independent of external influencing factors even though it has absolute control over internal factors. A business environment gains significance in this context and it refers to the influences exerted by external factors on the business. Here is a brief guide on all the external environment factors that affect business. •nDemographic Environment – It described the size and behavior of the population in a country which provides opportunities for the businesses. • Economic Environment – It includes the overall economic factors like the economic philosophy of the country, economic structure, policies, etc. which have a serious impact. • Geographical and Ecological Environment – This refers to the climatic conditions and natural resources which determine the nature and scope of products. • Legal Environment – This is the set of legal regulations that govern the business organizations. • Technological Environment – It determines the destiny of busines...

It is hard to pick one advertisement on TV, magazine or social media that is not endorsed by a celebrity. These endorsements are highly regarded to increase the sale of a product or service and to increase the brand awareness. Here is how celebrity endorsements are beneficial for brands. • Builds credibility – As fans are attached to their favourite celebrity, they tend to trust the celebrity. They also believe that the product endorsed by their favourite celebrity is worth trusting and using and hence a credibility for the product and the brand is built. When a celebrity attaches themselves to a product, it reassures the fans and consumers of the product’s quality. • Makes the brand stand out – When using a celebrity to represent the brand, it differentiates the brand from its competitors. This helps improve ad recall which makes the consumers remember the ad and the brand while also connecting it to their favourite celebrity. • Opens up new markets - Choosing the right cele...

Business law, also called commercial law is a branch of law that deals with legal rights, duties and liabilities of parties involved in different types of business transactions that are related to commerce, trade, sales, merchandising, etc. Below listed are the important features of business law. • It is a commercial law that deals with all the aspects of entering into selling and purchasing agreements. • It includes the study of law of contract which is vital in setting up the agreements and contracts that involve the parties buying and selling things in exchange for a purchase price. • Business law also explains the rights, duties, liabilities and legal obligations of parties involved in the contract of sales or purchase or other kind of contract for the purpose of any business or commercial activity. • It also includes the intellectual property law which involves the patents, trademarks, copyrights, etc. as well as the consumer protection law. • Business law also ap...

Recruiters should have some essential skills and traits to identify candidates. These are additional skills they should possess apart from good communication, hardworking and team player skills. Here are the important skills a recruiter should possess. • Sales skills – As recruiting is also considered sales, where recruiters need to sell their clients while also selling candidates on opportunities, they need strong skills to articulate how both will benefit from the process. • Ability to build relationships – It is important to build strong relationships with the candidates. Creating a more open, friendly and communicative relationships with the candidates will ultimately benefit both the recruiter and the candidate. • Hunter’s mentality – Recruiter should possess the skills of a hunter to find the potential talent using a variety of tools ranging from sites to networks to social platforms. • Consultative – Recruiting can be considered as a science which involve various met...

Having a set process to identify and acquire talent is vital for a recruiter. A recruitment sourcing strategy provides viable candidates for vacant positions in the organization. Here are 6 sourcing techniques followed by recruiters. • Through recruiting database – Most recruiters and hiring authorities maintain a recruiting database of candidates for hiring the best one with ease. • Through social media – LinkedIn is one of the most popular and effective sourcing platform for recruiters. Other social media platforms are also used to find eligible candidates. • Through online job postings – Even though inline job postings attract active job seekers, it is not considered one of the great passive recruiting strategies. • Via referrals – It is an old-school strategy of recruiters that is mostly proved effective. Many organizations have official referral programs where employees are paid a referral bonus if the candidate referred by them is hired. • Within the organization ...

Family business offer a myriad of advantages which are not often found in other enterprises. Here are some of the advantages specifically related to family businesses. • Common values – A family tend to share the same ethos and beliefs on how things are done. This shared values also impart a sense of purpose and pride which often give a competitive edge over other businesses. • Strong commitment – As it is the pride of the family that is involved in a business venture, all are likely to put in extra efforts and do things with a strong commitment. • Loyalty - Strong personal bonds inside the family also strengthens loyalty to the common mission. Members are most likely to stick together during trying times and will show the determination needed for success. • Stability – As a long term planning for future generations are also involved in setting up a successful family business, everyone will try to strive for growth and success which ensures stability. • Decreased co...

Acting as a liaison between the organisation and the employee, a HR professional often have to participate in employee counselling to understand his problem and to find an effective solution together. There are a variety of counselling approaches used depending on the depth of the program. Here are the types of employee counselling processes used. • Directive counselling – It a full counselling process which involves listening to an employee’s problem and deciding together with the employee on what should be done and motivating him to do it. This type of counselling does the function of advice, reassurance and communication. • Non-directive counselling – In this type, the employee is granted the maximum freedom to determine the course of the interview. The process involves skilfully listening and encouraging an employee to explain his problems while also trying to understand them and find appropriate solutions.nncbhhubbnc nnc • Participative counselling – This counselling ...

Guerrilla marketing is an advertising strategy which pushes on effective low-cost unconventional marketing tactics that yield maximum results. The term was first conceived by Jay Conrad Levinson in his book Guerrilla Marketing inspired from guerrilla warfare. Guerrilla marketing is all about taking your customer by surprise and creating a social buzz. This advertising gimmick relies heavily on unconventional modes of marketing, high energy and imagination. The key focus is that buyers feel special, privileged, positively surprised or thrilled on the interaction with the brand. Often, the conventional mode of advertisements through television, radio, hoardings doesn’t serve the actual purpose of holding the attention of the audience. This is where guerrilla marketing wins with the unconventional ways. Guerrilla marketing is often ideal for small businesses that need to reach a large audience without spending much. It’s used by big companies in sync with their o...

Ambush marketing is a marketing strategy where a company literally ambushes its competitor’s marketing gimmicks to steal the spotlight by gaining a strong upper hand in terms of the exposure. Though it has many methods, it all comes with one common feature: It aligns a brand with an event or property without having paid for the right to be a sponsor. Gone are the days of 4Ps of marketing, companies and corporate all around the world are now using smart and cheeky ambush marketing tactics to get noticed. Here are two of the famous examples of Ambush Marketing:   Samsung vs. Apple In October of 2011, Apple was all set to launch its latest iteration of its flagship mobile device, the iPhone 4S. Launch of the phone was projected to be one of the most anticipated events of the year. Samsung then decided to crash Apple’s big party by having a pop-up store just few feet away from Apple’s storefront in Sydney, Australia. While eager Apple fans waited patiently to get t...

As we all know a Business plan is a vital document used by many businesses. There are different types of Business plan available. Strategic Business Plan is one of the very important plans which helps the organizational growth and sustainability. The strategic business plan is more or less similar to an internal business plan. What makes strategic business plan differ from other plan is the nature of the plan. Strategic plans are more focused towards the long-term goals of an organization. For writing a Strategic Plan you need to do an extensive research about your target market and audience, study about your competitors, market trends and draft your plan well aligned with these external factors. Writing a Strategic Business Plan gives a lot of advantages. Strategic plans always come with milestones hence the results are always quantifiable. Since the plan requires a lot of research about industry and trends, this plan not only gives you guidance on your business goals but also...

Internal Business is one of the types in different business plan models. As the name indicates, this business plan is more focused on the internal audience and more suitable when you are planning for a new project or business unit inside a company. An internal business plan can be as definite as to design a plan for a specific project which the company is working on or can be broad as the overall goals and missions of the company. First and foremost step in creating an internal business plan is Create a mission statement for the plan. If the business has already an external business plan, the mission statement of that plan should be similar to that of the internal statement. Though, the internal mission statement is narrower in its focus and concentrates more on the practical functions of the business. The internal business plan identifies current and future opportunities. But the focus will be deepened towards that project or department. Suppose if you are creating...

Lean Startup plan is more used when you are at the very beginning of your business. Before even you launch your business, you may need some killer plans to attract your investors so that you ensure a smooth financial success moving forward. But it doesn’t mean that you are profitable from day one. Turning to be profitable may take years, even a publicly traded tech companies may not be profitable for years. Start-up plans are normally lean in order to help companies launch quickly and allow for changes as required when the company grows. But you have to make sure you include the must have’s like customer base, finances, and infrastructure. Below given are some of the critical components involves in Lean Start-up Business Plans 1. Strategy. Explain your strategy with a few bullet points that serve as a reminder of strategic focus on a problem your audiences face and your solution to that problem, your target market, and why you and your business are ideal to match that soluti...

Though there are different types of Business plans available, most of them include the some standard sections. Some business plan may be a little lighter (like in a lean plan), and sometimes it goes for pages long (like in a standard plan). Below give are some of the standard sections any business plan will carry; • Executive Summary: This is where you talk about the company and its major objectives as such. Mention your leadership team, your branches and locations. Also mention about the prime objective of the business plan • Company Description: Here in this section you give a bit more details about your company. Instead of your team you talk about your clients and differentiators • Market Analysis: Is your industry even worthwhile? This section talks about the market. Also this section would give a comparison between yourself to your competitors • Organization and Management: Describe the organizational Hierarchy for your business. • Service or Product Line: This is ...

Initial Public Offering is a process where an unlisted company is issuing its shares to the general public for the first time. Before going IPO the company might be a private limited company. After the IPO the company is known as Public Listed Company with any of the recognized stock exchanges. Going public or going IPO is long and a tedious process, below given are some of the major steps involved before a company going public; 1. Select an investment bank: Any company before going for an IPO must choose an Investment bank who would be advising the company on its IPO and to provide underwriting services. 2. Due diligence and regulatory filings: Under this step, the following underwriting arrangements are available to the issuing company a. Firm Commitment: b. Best Efforts Agreement c. A syndicate of Underwriters: 3. Pricing: Once the IPO is approved by the SEC, the effective IPO date is decided.  Before the effective date, the company and the underwriter decide the o...

Many at times you would have heard management folks using these terminologies, financial forecasting, and financial modeling. But what is the actual difference between these two? Let’s understand a bit more about this. In simple language, financial forecasting is the process in which a company thinks about and prepares for the future and financial modeling is the act of forecasting, calculating, or estimating a company's financial numbers. Financial Forecasting When a company do the exercise of its financial forecasts, it seeks to arrange for the incomes needed for expression of its goals and priorities to ensure they are internally reliable. This exercise also helps a company identify the assets or debt needed to achieve its goals and priorities. One of the best example for a financial forecast is the forecasting the company's sales. Since most of the financial statement accounts are related to sales, sales forecasting help a company make other financi...

A Consolidation Model is built by merging the financial results of multiple business units into one single model. Usually, the first worksheet of this model is a summary or consolidated view that shows the highest-level figures (monthly and yearly revenues, productivity rate,  costs and profits etc.) in the form of tables, graphs or charts. Other tabs in the model display financial data by various business units, departments, or product lines by years, quarters or months. There are two types of models available in the consolidation model, one is ‘Variable interest model’ and the second one is ‘Voting interest model’. Though this model is a very simple model with only a few inputs, in the real-world business scenarios, consolidation models can be quite complicated and involve numerous data sources and in-depth calculations. Below given are the various steps defining how to build a consolidation model? • Generate workbooks with labels corresponding to the respective project...

Sum of parts model is one of the financial model valuation processes in determining the value of the aggregate divisions of a company when it is being acquired by another company. The valuation provides a series of values for a company’s equity by aggregating the value of each business units and then arrives at a  total enterprise value (TEV).  The equity value is then calculated by adjusting the company's net debt and other  non-operating assets  and expenses. Sum-of-parts valuation is also known as  the break-up value  analysis method because this model helps a company to understand its true value. For an example, we might have heard that a young technology company is "worth more than the sum of its parts," it is been said so because the value of the company's different units could be worth more if they were sold to other companies. In such situations, larger companies have the ability to take advantage of collaborations and  economies of sca...

A leveraged buyout model gives you an idea on what will happen when a private equity firm acquires a company, whether it’s a combination of equity (cash) and debt, and then sells it after a certain time period say, in 3-5 years. Normally Private Equity firm targets a return of 20 – 25% margin by doing this. Leveraged buyouts are somewhat related to normal M&A deals, but in an LBO model, there is a high probability that the buyer would sell the target in the future. How does LBO works? By a simple example let’s look at how a leverage Buyout Model Works?  An LBO can be simply co-related to the procedure of buying a house using a combination of down payment and balance through a mortgage loan. In both the house buying and LBO Model, you save certain money by putting down a small amount in cash and then borrowing the rest. Similarly in an LBO, the “down payment” can be called as Equity (cash) and the “mortgage loan” as Debt. The PE firm uses debt to boost its returns. Bel...