Business Management

Business Process Automation (BPA): Definition, Advantages, and Disadvantages

Business Process Automation

Business Process Automation is a modern business concept that evolved with the increase of technology use in the business industry. It is also known as digital transformation. This concept enables the organizations to replace the manual efforts for one or more business activities and execute the tasks using technology.  Usually, this method is used for …

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Advantages and Disadvantages of Outsourcing

Outsourcing is a modern business practice of hiring an outside party to get a part of the business process done. There are many advantages and disadvantages of outsourcing that can be seen in real-life scenarios of outsourcing. These advantages and disadvantages of outsourcing are helpful for organizations to decide whether to hire or not external …

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07 Advantages of the Triple Bottom Line

Triple Bottom Line is an accounting concept introduced to the business industry. It is important to identify the advantage of the triple bottom line concept for any organization to realize why they should start accounting based on this concept. The advantages of the triple bottom line concept can be identified both from the organization’s perspective …

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Consumer Products: What are consumer products and the types of consumer products

Consumer Products

Consumer products are the products or services provided in the market for the end consumers to purchase to satisfy their personal needs and wants. These products differ based on the need of the customers, purchasing power and purchasing intention. It is important to categorize the consumer products based on the different characteristics they show in …

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08 Characteristics of a Private Limited Companies

Private Limited Companies

Many types of business ownership styles can be seen in the current business world. Private limited companies are a fast-growing type of business in the modern business world. These are the businesses with multi-person ownership and limited liability to the owners. Even though these businesses can be seen as a simple concept, few characteristics highlight …

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04 main Characteristics affecting the consumer behavior

Characteristics affecting the consumer behavior

Consumers are the end-use of a product or a service. Several characteristics are affecting consumer behavior that has been identified in the modern business world. Consumer satisfaction and repeat purchases are very important for organizational growth. When selecting a suitable market segment for a product, the organizations should conduct a proper analysis of consumer behavior …

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Michael Porter’s 4 Generic Strategies

generic strategies

The organizations are operating with the intension of achieving a defined goal. To achieve this goal, driving the organizational activities towards the success is majorly important. To identify the growth opportunities Michael Porter‘s generic strategies can be used in any type of organization. In 1985, through his book “Competitive Advantage” Creating a Sustaining Superior Performance’, …

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BCG Matrix : The 04 elements that define the products in any organization

BCG Matrix

BCG Matrix or the Boston Consulting group’s product portfolio matrix is a tool designed to use in long term strategic planning. This helps organizations to analyze their product portfolio and decide what product should be discontinued, on what product the organization should invest more and what product needs to be developed. This analyzing tool was …

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