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
Organizational Conflict
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
Communication
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
Franchising
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
E-commerce
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
Staffing
Definition: Staffing is a managerial function which involves obtaining, utilising and retaining, qualified and competent personnel to fill all positions of an organisation, from top to operative echelon. In finer terms, staffing is placing the right person at the right job. It aims at employing, deploying and monitoring a competent and contented staff, i.e. daily wage … [Read more...] about Staffing
Business Ethics
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
E-Governance
Definition: E-governance, expands to electronic governance, is the integration of Information and Communication Technology (ICT) in all the processes, with the aim of enhancing government ability to address the needs of the general public. The basic purpose of e-governance is to simplify processes for all, i.e. government, citizens, businesses, etc. at National, State and local … [Read more...] about E-Governance
Planning
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
Partnership
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