Market orientation is a business approach that helps businesses to prioritize and identify the needs and expectations of the customers, design and create products and services to cater to the customer needs and expectations. Business organizations that implement market orientation give special consideration to the needs and expectations of their target market. This is a …
What is a Merger? A merger is identified as an agreement between two existing business organizations to join together into one business organization. With the increasing nature of globalization and complexity of business activities, some businesses decide to join together and work as a single organization to face the competition strongly. A merger is a …
Company Mergers: Meaning and 05 Types of Mergers in the Business World Read More »
Strategic management is an organization’s way of managing its available resources to achieve its set goals and objectives. It involves a process of setting objectives according to the vision and mission of the organization, analyzing the market and competitor environment, evaluating the internal and external business environment, deciding the strategies that should be used, and …
Corporate governance is the way of practices, rules, and processes by which a business organization is directed and controlled. It involves maintaining and balancing the interests of the organization’s stakeholders such as customers, shareholders, suppliers, employees, government, and the community. These factors can be internal or external. Corporate governance is considered as a combination of …
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Product positioning is a strategic exercise that helps to identify the product’s unique benefits to an identified target audience. It is a showcase of the product in a way that it makes better than the alternative competitor products. Product positioning is a similar concept to market positioning. Product positioning highlights how the consumer sees the …
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A successful business concept develops with functional areas that concentrate on different domains of the business. Based on the requirement of the business processes, skills and tasks, the functional areas can be different from business to business. Some basic functional areas such as finance and marketing are common to almost all types of businesses. When …
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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The marketing audit is an important element in the marketing plan for any product or service. In the modern competitive environment, it is highly important for the marketing team to fully understand the environment and the market they want to enter in order to implement a successful marketing plan. The marketing audit is a process …
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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