McKinsey 7S Framework for Business Sucess

McKinsey 7S Framework

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 …

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Emotional Intelligence (EI) in business: 05 Main Components of Emotional Intelligence

Emotional Intelligence (EI) in business: 05 Main Components of Emotional Intelligence

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 …

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Strategic Implementation: Meaning and 06 Steps for Successful Strategic Implementation

Strategic Implementation: Meaning and 06 Steps for Success

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 …

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Blue Ocean Strategy: Meaning, Advantages, and Disadvantages

Blue Ocean Strategy: Meaning, Advantages and Disadvantages

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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Operations Management: Meaning and Importance

Operations Management: Meaning and Importance

The business world is becoming more and more complex every day. Operations management helps businesses to grow in the competitive market. Operations management (OM) is the administration process of business practices to create a higher level of efficiency and effectiveness within the organization. It gives attention to the supply chain management process of the organization …

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12 Main Components of Operations Management

12 Main Components of Operations Management

When discussing operations management, components of operations management take major importance in the subject. It is vital to identify what has created the operations management field. There are 12 main components of operations management that can be identified. The picture below depicts the 12 components of operations management. Forecasting– This component is related to using …

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Just In Time Inventory Management System (JIT): Meaning, Advantages and Disadvantages

Just In Time Inventory Management System (JIT): Meaning, Advantages and Disadvantages

Just in time inventory management system (JIT) is one of the most popular inventory management systems in the modern business world. With the increase in the use of supply chain management processes, the just in time inventory management system has become a strategy that aligns the orders of the raw material for the production process …

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