Business

Definition: SWOT Analysis is a strategic management tool that assists an enterprise in discerning their internal Strengths, and Weaknesses, and external Opportunities, and Threats, to determine its competitive position in the market. The SWOT Analysis helps in ascertaining the factors that influences the efficiency and effectiveness of any product, project, or business … [Read more...] about SWOT Analysis

Definition: Change Management can be defined as the systematic approach to transforming processes, systems, structures, technologies and values, in order to correct the flaws and misalignments within the organization. It entails a set of activities that help the members to switch from their present way of working to the intended one. In business, change refers to any kind of … [Read more...] about Change 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, such as sourcing, procurement, transformation, … [Read more...] about Supply Chain Management

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 view … [Read more...] about Online Marketing

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 … [Read more...] about Strategy Implementation

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 Risk = … [Read more...] about Risk Management

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, … [Read more...] about Theories of 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 achieve specific goals to … [Read more...] about Leadership

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 for increasing … [Read more...] about Strategy Formulation

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 Reception: … [Read more...] about Perception