The emerge of several management systems in business practice, such as quality management, financial management, human resource management, safety management etc. have introduced individual approaches to the organisations’ structures and operability, that may lead to conflicts and controversies. Moreover, thecontemporary challenging and competitive environment, both in the private and the public sectors, require morecompact and flexible structures and processes that will enhance the organisational effectiveness and efficiency. The appropriate adoption of risk and quality management fundamentals to the organisational context and the development of an internal triangulation process can serve such a need. The paper reviews the principles of risk and quality management and follows a reasoning that results to the development of a compact and operational organisational structure, which ensures sustenance through a defined coordination of the planning, operating and monitoring activities in an organisation. The quality cycle of Plan–Do–Check–Act along with the risk cycle of identifying hazards, assessing risks, implementing measures and establishing monitoring for new hazards and risk levels’ increase, can comprise the basis for business reformation, addressing the smooth interrelationships of all management areas required by the company’s objectives. Read more...
In this research paper, employing a two factor model, an endeavour is made to analyse the impact of financial leverage as well as the size of the firm’s competitors on the market risk level of 57 listed companies in the construction material industry of Vietnam. This paper manifests commendable research results. Most notably, the risk dispersion level could be minimised by maintaining competitor’s size approximate as current (quantified by equity beta value of 0,284) as well as decreasing down the financial leverage to 20%. In addition, the risk level could be diminished, if the size of competitor is slightly smaller (quantified by equity beta value of 0,933) and financial leverage increases by 30%. Moreover, inferred results has also been evinced in this paper, which might bestow appropriate recommendations to apropos government as well as private institutions for re-appraising their approaches and policies during and after the global financial crisis 2007-2011. Read more...
This paper explicates, how the global industry has approached to employ Total Quality Management (TQM) and Business Excellence to obtain substantive benefits. The rationales, why Indian companies adopted these movements and how those companies have embellished their quality of operations are rationalised. The case of Tata Steel, one of the best examples of adoption is parleyed in this paper. Over the last 20 years, the author has visited, interacted with, studied, assessed, designed and carried out several TQM/BE initiatives in large and small companies. Based on these, he has now positioned together his thoughts on the subject. It has been observed that the practice of TQM/BE advances the performance of companies in several dimensions. In future, more companies may be studied in depth, data analysed to validate some of the conclusions, and a refinement of conclusions may help companies to exercise specific tools and techniques in unique cases. The paper ascertains that companies need to devise methodologies as appropriate to their situations to benefit from TQM/BE. These methodologies comprise how to draw up a vision, how to deploy strategy, how to monitor and control performance and so on. The paper also demonstrates that exercise of TQM/BE will lead to lower costs, waste reduction, better environmental awareness and employees well being. Practitioners of TQM/BE, CEOs and business leaders may appraise this contribution useful. Read more...