Capital budgeting is a process conducted by the business to evaluate potential major projects or investment opportunities. This is usually done with the intention of obtaining the best returns of investment. Business organizations are often facing the challenge of selecting between two or more projects/investments or the buy vs. replace decision. In a normal scenario, …
Digital marketing is one of the main marketing trends in the modern business environment. With the increase of technology usage, the use of the internet has become the new normal in almost all households. This has made the use of digital marketing common for business organizations as a method of creating a strong connection with …
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Integrated marketing communication is a process of conveying or distributing a unified message using multiple channels to drive a higher customer engagement for the business organization’s products or services. In the modern business world where integrated marketing communication takes high importance, marketing is not just about providing something creative and original. It is about providing …
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Conspicuous consumption is a way of purchasing goods or services for the specific purpose of displaying one’s wealth. Conspicuous consumption can be identified as a way to show a person’s social status by purchasing patterns, especially when the goods or services that are publicly displayed are too expensive for other people in the same social …
Mintzberg’s 5Ps of strategy is a model that is introduced by Henry Mintzberg as a model that can help the business to develop its business strategy by examining from five different perspectives. Since building and implementing the best possible business strategies are highly important for the success of the business taking all the relatable aspects …
Strategic management is an organization’s way of managing its available resources to achieve its set goals and objectives. It involves a process of setting objectives according to the vision and mission of the organization, analyzing the market and competitor environment, evaluating the internal and external business environment, deciding the strategies that should be used, and …
Management consists of the process of planning, organizing, prioritizing the business tasks in order to achieve business goals and objectives. Management styles are the methods managers use to get these tasks completed timely and accurately. Management styles differ from person to person according to the nature of the business industry, management level, and individual personalities. …
Corporate governance is the way of practices, rules, and processes by which a business organization is directed and controlled. It involves maintaining and balancing the interests of the organization’s stakeholders such as customers, shareholders, suppliers, employees, government, and the community. These factors can be internal or external. Corporate governance is considered as a combination of …
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The risk management process is one of the most crucial processes that helps the business organization to reduce, minimize or eliminate the current and future risks that may occur. Due to the fast-changing nature of the business environment, it is important for businesses to identify the risks they are facing beforehand in order to mitigate …
Product positioning is a strategic exercise that helps to identify the product’s unique benefits to an identified target audience. It is a showcase of the product in a way that it makes better than the alternative competitor products. Product positioning is a similar concept to market positioning. Product positioning highlights how the consumer sees the …
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