What are Business Models? In simple terms, business models are the business organization’s plan for making a profit. It identifies the products or services the business organization is planning to sell, the most profitable target market, and the expected expenses for the business when selling the product or the service. Business models are highly important …
Management control systems (MCS)are structures that are put in place by the management of the business that compares the goals and strategies of the business organization against the actual outcomes of the business. Management control systems can be formal or informal. In other words, it evaluates how well the organizational functions and the business organization …
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Intellectual capital is considered one of the most prestigious assets an organization can hold. It is the knowledge of the organization that is usually used for the purpose of money-making or any other useful purpose that requires information or knowledge in order to achieve a competitive advantage for the business. Intellectual capital is an asset …
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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 »
Innovation is a way of practically applying new business ideas by creating a product or a service to fulfill unmet customer needs. There can be four innovation types identified in the modern technologized world. A person or a company can come up with a new product, service, business model, process or they can simply improve …
What is Strategic Implementation? Strategic business management takes a vast area in modern business activities. Strategic implementation is the process of executing the plans and strategies of the business. This process should aim to satisfy the long-term goals and objectives of the organization aligning the organizational vision and mission. Simply put, strategic implementation is the …
Strategic Implementation: Meaning and 06 Steps for Successful Strategic Implementation Read More »
Blue Ocean Strategy is identified as the market for a product or a service where there is minimum competition or no competition. This strategy has been developed for searching for business opportunities where there are very few businesses operating in the market in a particular sector and there is no pressure for pricing. In a …
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