Insurance is one of the main topics that is taking interest of both individuals and businesses. Principles of insurance take a major space in identifying the insurance concept clearly. Insurance is considered a form of contract between two parties. Hence, there are certain principles that are placed to ensure the honesty and validity of the …
Micromarketing is a marketing approach to advertising that helps business organizations to target a specific group of potential customers in a niche market. By using micromarketing concepts, the business can market its product and services directly to a targeted group of potential customers. This method is usually used to advertise products or services with a …
What is Micromarketing? Advantages and Disadvantages Read More »
What is Product Differentiation? Product differentiation is a marketing strategy that is designed to separately identify a specific business’s products or services from the competitive products or services. A well-implemented product differentiation involves the identification and communication of the unique qualities of a product, service, or brand while highlighting the differences between the product and …
A promotional mix is a set of promotional variables selected by the marketers for a particular product when conducting promotional activities. Promotional mix has been identified as a subset of the marketing mix in the marketing plan. This is considered as a set of marketing approaches used by marketers of a product to reach a …
Promotional Mix: Meaning and 05 Elements in Promotional Mix Read More »
Sustainable development is one of the most common topics in the modern business world. Since globalization and modernization concepts are taking over the business world, the world is getting more and more concerned about the sustainability concept. Sustainable development is a concept that is followed by many business organizations in order to achieve business growth …
What is an Organizational Structure? Organizational structure can be identified as a system that summarizes how particular activities in the business organization are directed in order to achieve the identified goals and objectives. These outlines activities include job roles and responsibilities as well as the rules set by the management of the organization. The organizational …
Organizational Structure: 04 Types of Organizational Structures in Business Read More »
McKinsey 7S framework is a model used in the change management context. It is a framework that helps to identify organizational effectiveness. It assumes that there are seven internal factors that any organization needs to be aligned and reinforced if they are planning to become successful in the business industry. McKinsey 7S framework highlights seven …
What is Emotional Intelligence? Emotional intelligence is the ability of a person to identify, understand, use and manage his own emotions in a positive and advantageous manner to relieve stress, empathize with others, maintain effective communication and overcome challenges positively. Due to the complexity of business activities in the modern business world, the employees have …
Emotional Intelligence (EI) in business: 05 Main Components of Emotional Intelligence Read More »
The risk management process is one of the main factors in the success of any business organization. In the fast-changing business environment, businesses continuously have to face risks. Business risks can be internal or external. Internal risks can be managed by the businesses as they are generated by internal factors of the organization. External risks …
Risk management plays an important role in any business. Since every business has a risk involved in its activities, it is important for the business managers to identify the associated risks and take necessary actions to minimize or eliminate the risks. The risk management process is considered as the framework for the actions that need …
