Res Judicata


The old Latin legal phrase, res judicata, means a thing already decided and settled. Res judicata is a legal principle quite consistently followed by almost all courts. It is the rule that a final judgment or decree on the merits of a matter by a court of competent jurisdiction will be final and conclusive as to any later lawsuit on all points or matters determined in the former suit. This means that between the parties themselves the dispute is closed at the conclusion of trial. However, this does not prevent a lower court decision from being appealed to a higher court.

This principle of res judicata prevents  an unsuccessful litigant from taking an unfavorable decision to another trial court for a second lawsuit on the same complaint or same set of facts. Res judicata applies between the parties in a civil lawsuit, affecting those parties and no others.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Management Responses to Inflation


Businesspeople must deal with the rising price spiral. Higher costs must be absorbed or passed on to the consumer in the form of higher prices. Management needs to adopt innovative responses to the problems of inflation and tight budgets. Inflation does not have a negative impact on all firms. Consumers are adapting to inflation, and businesses must make similar adaptations to remain in operation.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Employees Who Exceed Expectations


  1. Immediate promotion potential: These individuals consistently perform their jobs at such high levels of quality and quantity that a promotion seems to be past due. They also accomplish specific objectives established for the job from the overall business plan. These individuals may be working at a job that is  beneath their basic set of skills and general capabilities, perhaps because no promotional  openings have been available. Without question they could perform the responsibilities of a higher position.
  2. Eventual promotion potential: The performance of employees in this subcategory has been progressing at a rate that is normal for the job and typical for an incumbent who is expected to progress to the next higher-level job within a year or two. Their performance includes normal duties as well as objectives assigned based on the overall business plan.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Speed and Time


Speed and time measures are very important factors to many customers. The speed with which your company can deliver, whatever it provides, can actually gain you competitive advantage and allow you to offer higher satisfaction, and maybe even demand, or ask a price premium from your customers for that convenience of doing things faster or quicker. However it is not just about the core product, it is also about every single contact or initiation with a customer, from answering the telephone, to replying letters, to the length of a phone call, to how long you’ve been put on hold etc. the customer measures all these factors, largely unconsciously.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

The Forces of Demand and Supply


In free enterprise system, the distribution of resources and products is determined by supply and demand. Demand is the number of goods and services that consumers are willing to buy at different prices at a specific time. From your own experience, you probably recognize that consumers are usually willing to buy more of an item as its price falls because they want to save money.

Supply is the number of products that businesses are willing to sell at different prices at a specific time. In general, because the potential for profits is higher, businesses are willing to supply more of a good or service at higher prices.

The price at which the number of products that businesses are willing to supply equals the amount of products that consumers are willing to buy at a specific point in time is the equilibrium price.

Changing the price alters the supply situation and a new equilibrium price results. This is an ongoing process, with supply and demand constantly changing in response to change in economic conditions, availability of resources, and degree of competition.

Critics of supply and demand say the system does not distribute resources equally. The forces of supply and demand prevent sellers who have to sell at higher prices and buyers who cannot afford to buy goods at the equilibrium price from participating in the market. According to critics, the wealthy can afford to buy more than they need, but the poor are unable to buy enough of what they need to survive.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Leader as Steward


The servant leader is servant first. It begins with the natural feeling that one wants to serve, to serve first. This conscious choice brings one to aspire to lead. That person is sharply different from one who is leader first, perhaps because of the need to assuage an unusual power drive or to acquire material possessions.

Leaders engaged in building learning organizations naturally feel part of a larger purpose that goes beyond their organizations. They are part of changing the way businesses conviction that their efforts will produce more productive organizations, capable of achieving higher levels of organizational success and personal satisfaction than more traditional organizations.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Lectures, Line of Sight

Price-earnings Ratio


Price-earnings ratios are published daily in newspapers for stock market-listed companies, along with the gross dividend yield, dividend cover and other information about the shares of each company. The method of calculation is what the name suggests:

Price-earnings ratio = stockmarket share price divided byEarnings per share

The stockmarket share price used is the one published in the financial newspapers at the close of business in the stock exchange for the previous evening.

As a generalization, when the price earnings ratio of a company is higher than the average for other companies in the same business sector, the stockmarket expects the company to achieve higher than average earnings per share in the foreseeable future to justify the above-average valuation of the shares.

In certain circumstances, the explanation may be quite different. For example, a takeover bid for the company may be widely expected, and the share price has already increased significantly in anticipation of the price to be offered by the bidder.

It must never be forgotten than the analysis of share prices, and especially the prediction of future changes, cannot be done simply by calculating the various ratios. If this was possible, making a fortune on the stockmarket would be easy. In practice, even the most experienced investment-fund managers would make costly errors of judgment from time to time.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

Knowing about Cartel


A cartel is a group of firms combining to restrict output and raise price, the aim being to balance as a collective monopoly. Each firm in a cartel agrees to produce less than it would under unrestrained competition, in order to drive the price up so that all in the group will benefit.

Cartels can only raise prices by cutting firm outputs. But at the higher prices, member firms are motivated to produce even more than at competitive equilibrium. So the more successful the cartel, the greater the incentive to chisel. Carters therefore require enforcement devices to prevent chiseling. In a number of European countries, the law may treat a cartel agreement as a legality enforceable contract. Some jurisdictions take a neutral position: the cartel agreement is not unlawful, but the power of the state will not enforce it. Finally, the law may be actively hostile to cartels as “consipiracies in restraint of trade.” In such a situation a cartel would require enforcement devices that are both effective and secret—an unlikely combination when any detected chiseler can complain to the authorities.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

Managing a Shortage


In the real world, equilibrium prices are always changing. A flood in Brazil may cause the price of coffee to rise; good farming weather in the Midwest will lead to a fall in the price of wheat; advancing technology steadily lowers the price of computers. If enough people are drastically affected by the price change the government may decide to do something about it—whether wisely or unwisely. Rising apartment rents will lead to pressure for rent control, falling wheat prices will lead to pressure for agricultural price supports, and so forth.

When the government controls the price of a good below the market-clearing level, there will be a “shortage.” A shortage is not the same as scarcity. Scarcity simply means that not all desires can be satisfied, and so scarcity is always present. Diamonds are scarce, but there is no shortage—anyone who can pay the price of a diamond can buy one. A shortage exists when goods are not just expensive but unavailable to some people—except perhaps by unlawful means. In a city with rent controls, newcomers may be unable to rent an apartment at all, regardless of their willingness to pay. Thus, faced with a supply shift or demand shift dictating a higher equilibrium price, consumers are bound to lose out one way or the other—either from the higher price if the market adjustment proceeds unimpeded, or from the “shortages” that follow when government interventions keep the price low.

Using the concepts of short-run and long-run supply, let us trace out the consequences of coping with upward pressures on price by imposing a “ceiling.” There are some less visible consequences of price ceiling. Unable to raise price openly, firms may use subtler strategies. They may eliminate discounts or seasonal sales, reduce quality or variety or convenience of their offerings, or concentrate production in product lines that happen to have received a better break from the price-control authorities. Supplies may be sold abroad, leaving even less available for domestic consumers. And of course black markets may arise, providing a wider scope for people specializing in illegal activity. In extreme cases, there may be a breakdown of legitimate trade. In this connection, we can learn much from a previous great inflationary episode associate with World War 11 and its aftermath.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

Previous Older Entries

Follow

Get every new post delivered to your Inbox.

Join 45 other followers