Business Management

Mass Customization: Meaning, 10 Main Advantages, and Disadvantages

Mass Customization: Meaning, 10 Main Advantages, and Disadvantages

Mass customization is identified as the process of delivering customized goods and services to the market with the intention of satisfying a specific customer’s needs. This is a modern business concept that is also known as made-to-order or built-to-order. It is a technique used by marketing and manufacturing departments of many mass production organizations that …

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04 Main Components of Knowledge Management

04 Main Components of Knowledge Management

Knowledge Management is one of the modern topics in the growing business world. It is the process of creating, structuring, sharing, using, and managing the knowledge, information, and experience within an organization. The main purpose of knowledge management is to improve the efficiency of organizational activities and preserve the knowledge within the business organization. The …

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08 Factors Influencing Customer Satisfaction

08 Factors Influencing Customer Satisfaction

Identifying the factors influencing customer satisfaction is highly important for businesses. No matter what their internal goals and objectives are, the success of any business relies on the level of customer satisfaction it can create for the target market. Since the final purchasing decision is mainly depending on the level of satisfaction the customer is …

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04 Factors Influencing Consumer Behavior

04 Factors Influencing Consumer Behavior

There are many factors influencing consumer behavior that have been identified. Consumer behavior has a direct impact on the success or the failure of a product. It is highly important for the business to identify the factors influencing consumer behavior before launching its marketing plan. Identifying the factors influencing consumer behavior helps the business to …

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Goal Setting Theory – Meaning and 05 Main Principles

Goal Setting Theory - Meaning and 05 Main Principles

Goal setting theory is a theory used by many employers in order to increase the productivity of the employees of the organization. It is a theory based on the idea that implementing and setting specific goals can be effective when achieving organizational goals. these goals are measurable and achievable for the employees. This is also …

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Capital Budgeting Process and Techniques

Capital Budgeting Process and Techniques

Identifying the capital budgeting process and techniques is important for business organizations to discover the most profitable project or the investment out of all the available options. The capital budgeting process and techniques explain the steps an organization should follow in order to identify the project options through thoroughly analyzing the budget for the project …

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05 Key Elements of a Good Credit Management Strategy

05 Key Elements of a Good Credit Management Strategy

Credit management is a process of granting credit facilities for the customers, establishing payment terms and conditions that allows the customers to pay their due amounts in full and on time, payment recovery activities, and ensuring the customer adherence to the business organization’s credit policy. It is considered as the business organization’s action plan to …

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05 Advantages and Disadvantages of Acquisition Strategy

05 Advantages and Disadvantages of Acquisition Strategy

Identifying the advantages and disadvantages of acquisition strategy helps the business organizations to make clear decisions when getting implementing an acquisition in the business.  With the increasing complexity in the business environment, the number of acquisitions that happen in the business world has increased. However, it is also identified that any businesses suffer losses due …

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