Supply Chain Management

Definition: Supply chain Management (SCM) refers to the management of key business processes which are related to the product flow and conversion of goods from the raw material to the goods ready for use by the final consumer. SCM involves a complete series of activities which may or may not be interconnected to one another,…

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Online Marketing

Definition: Online marketing is a method that uses the internet to promote or transmit a message about a company’s product and services to the potential buyers or target audience. Online Marketing Communication Options Website: A company must design its website that considers its purpose, products, services, mission and vision. A website should look interesting to…

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Strategy Implementation

Definition: Strategy Implementation refers to the execution of the plans and strategies, so as to accomplish the long-term goals of the organization. It converts the opted strategy into the moves and actions of the organisation to achieve the objectives. Simply put, strategy implementation is the technique through which the firm develops, utilises and integrates its…

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Job Analysis

Definition: Job analysis refers to the process of systematically identifying, obtaining and recording all the facts and details concerning the job through various methods. It encompasses gathering information related to the knowledge, skills and abilities (KSA) which the job holder must have, to perform the job satisfactorily. Here knowledge implies the degree to which the…

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Talent Management

Definition: Talent management is the systematic process of identifying the vacant position, hiring the suitable person, developing the skills and expertise of the person to match the position and retaining him to achieve long-term business objectives. Talent Management Process Model Planning: Planning is the initial step in the process of Talent Management. It involves the…

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Risk Management

Definition: Risk management is the process of optimising the uncertainties and grabbing the opportunities for growth and prosperity of the organisation. What is Risk? The possibility of uncertain returns on investment resulting in chances of loss or low profitability is termed as a risk. Possible return is directly linked with the risk involved. i.e. High…

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Theories of Leadership

Definition: Leadership is the process of channelising the energy of an individual or a group towards the realisation of specific goals, objectives and vision. Theories of Leadership Over the decades, many great scholars, researchers and academicians have conducted various research and studies to discover the factors that contribute to effective leadership. In this process, the following…

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Leadership

Definition:”The ability to create a vision and influence, motivate, inspire and transform others to achieve certain goals towards that vision is known as leadership.” Leadership is the specific set of skills and attributes which can be acquired through learning. Who is a Leader? A Leader is a person who guides others and motivates them to…

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Strategy Formulation

Definition: Strategy Formulation is an analytical process of selection of the best suitable course of action to meet the organizational objectives and vision. It is one of the steps of the strategic management process. The strategic plan allows an organization to examine its resources, provides a financial plan and establishes the most appropriate action plan…

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Perception

Definition: Perception is a process by which people regard, analyze, retrieve and react to any kind of information from the environment. For example, some people feel happy about earning money while others feel happy about spending money. Factors affecting Perception The factors which affect the perception are shown in the figure below: Process of Perception…

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