Business

Definition: Business strategy can be understood as the course of action or set of decisions which assist the entrepreneurs in achieving specific business objectives. It is nothing but a master plan that the management of a company implements to secure a competitive position in the market, carry on its operations, please customers and achieve the desired ends of the … [Read more...] about Business Strategy

Definition: Business is defined as an organised economic activity, wherein the exchange of goods and services takes place, for adequate consideration. It is nothing but a method of making money, from commercial transactions. It includes all those activities whose sole aim is to make available the desired goods and services to the society, in an effective manner. It is a … [Read more...] about Business

Definition: The term 'merger' is used to mean the unification of two or more business houses to form an entirely new entity. It leads to the dissolution of more or more entities, to get absorbed into another undertaking, which is relatively bigger in size. It is a strategy adopted by the company to maximise company's growth by expanding its production and marketing … [Read more...] about Merger

Definition: Organizational Conflict or otherwise known as workplace conflict, is described as the state of disagreement or misunderstanding, resulting from the actual or perceived dissent of needs, beliefs, resources and relationship between the members of the organization. At the workplace, whenever, two or more persons interact, conflict occurs when opinions with respect to … [Read more...] about Organizational Conflict

Definition: Communication is the process of transmitting information from one person to another. It is the act of sharing of ideas, facts, opinions, thoughts, messages or emotions to other people, in and out the organisation, with the use of the channel to create mutual understanding and confidence. It is not tied to words, i.e. whether an individual speaks or not, the … [Read more...] about Communication

Definition: The term 'franchise' is understood as an exclusive right conferred by the parent organisation to an individual or enterprise to use the former's successful business model, in stipulated areas. Franchising is a business relationship; wherein the owner authorises another party to use their brand, product, business system and process in return for adequate … [Read more...] about Franchising

Definition: E-commerce or otherwise known as electronic commerce, alludes to all sort of commercial activities, that are conducted online, by way of electronic processing and data transmission, comprising of text, graphics, audio, video, etc. In other words, e-commerce is a business model; that equips the enterprises or individuals to carry out business through the electronic … [Read more...] about E-commerce

Definition: Business ethics, connotes the form of applied ethics, which studies ethical principles, morals and problems that take place in the business environment. It is nothing but the integration of day to day morals and ethical norms to business and applies to all types of business. In finer terms, it implies the good or bad, right or wrong behaviour, in pursuing … [Read more...] about Business Ethics

Definition: Planning is the fundamental management function, which involves deciding beforehand, what is to be done, when is it to be done, how it is to be done and who is going to do it. It is an intellectual process which lays down an organisation's objectives and develops various courses of action, by which the organisation can achieve those objectives. It chalks out … [Read more...] about Planning

Definition: The term partnership, is used to mean a business structure wherein two or more individuals, come together for undertaking a lawful business and have agreed to share the profits and losses arising from it. The management and operation of the business should be performed either by all the partners or any of them, acting for all the partners. The Partnership is the … [Read more...] about Partnership