Good transportation network paves way for infrastructure development. Infrastructure development in India has contributed to modernizing industries and making her one of the fastest growing economies in the world. Different modes of transportation networks in India have gone a long way in connecting different parts of the country through various government-initiated projects and schemes. Major […]
AIDA model explained
AIDA (acronym for Attention, Interest, Desire, and Action) is an advertising effect model that identifies the various stages in a customer’s journey. It is a popular marketing model, especially for the digital medium. One of the best known classic marketing models, AIDA traces journey of a customer through Awareness, Interest, Desire and Action. Stages of […]
Country Risk Analysis
Doing business or investing in foreign markets, especially emerging countries, carry a certain element of risk. The risks could be from the government that may decide to make changes to the country’s foreign investment rules, or it could be a small buyer deciding to cancel a contract due to some economic concerns. Country risk refers […]
Types of organizations
Organizations consist of several factors such as functions, people, resources, etc. Differing organisational goals and objectives implies a varying degree of importance on each of these factors, that eventually give rise to different types and structures of organizations. Daft, Murphy and Willmott (2010) identify and discuss the differences between small and large organizations and for-profit […]
Learn Indian and World History Through Movies
Learn history through movies. Movies on Mahatma Gandhi Oct 2 is celebrated in India as Mahatma Gandhi’s birthday (known as Gandhi Jayanti), a man who changed the course of the future of India, with his ideas of non violence. Gandhi (1982) While several movies have been made on Bapu, the most successful one was Richard […]
Theory of the Firm
The theory of the firm, a microeconomic concept (in neoclassical economics), states that a company’s main goal should be to maximize profits, to create as big a gap between revenue and costs as possible by allocating resources to maximize net profits. The theory of the firm influences decision-making in several business areas, including resource allocation, […]
General Measure of Enterprise Tendency (GET) test
The General measure of Enterprising Tendency test (GET2) is a measure of enterprising tendency; developed for educational use and self assessment. The General Enterprise Tendency (GET) test measures five entrepreneurial attributes such as: Need for achievement Need for autonomy Creativity Risk taking Internal locus of control Website: http://www.get2test.net Problems with psychological testing of entrepreneurs include the varying […]
PESTLE / PESTEL Analysis: Tool to assess the Macro-Environment
PESTLE analysis consists of components that influence the business environment and each letter in the acronym denotes a set of factors that directly or indirectly affect every industry. The Pestle analysis allows marketers to analyse the major environmental factors and examine the effect of these factors on marketing planning and implementation. What is PESTLE / […]
3 Levels of Strategy
A strategy refers to the set of actions that managers in a company take to increase their company’s performance. The strategy formulation task is the task of selecting strategies, whereas strategy implementation is the task of putting strategies into action. Strategies can be divided into various categories such as Corporate-level strategies, Global strategies, business-level strategies […]
Resource Based View (RBV)
The resource-based view (RBV) of strategy asserts that the competitive advantage & superior performance of an organisation are explained by the distinctiveness of its capabilities. It is sometimes also called the ‘capabilities view’. Proponents of RBV (such as Birger Wernerfel, Prahalad and Hamel, Barney) suggested that a firm should look within the firm to find […]
Personal Selling: Tool of the Communication Mix
Personal Selling: Tool of the Communication Mix Personal selling concerns interpersonal communication and the role is largely one of representation. Personal selling is a highly potent form of communication simply because messages can be adapted to meet the requirements of both parties, who meet face-to-face, as the communication develops. Objections can be overcome, information provided […]
Direct Marketing
The key role of direct marketing is to reach target audiences with personalized and customized messages that aim to provoke a change in the audience’s behaviour. A secondary role of direct marketing is to collect customer information, in order to feed future strategies and campaigns. In order to reach audiences with call-to-action messages, direct marketing […]
Ethical Theories: Overview
Understand the meaning of various ethical theories and key business ethics terminology. What is Ethics? Ethics refer to moral principles that govern a person’s behaviour or the conducting of an activity. It’s the branch of knowledge that deals with moral principles. More definitions: “Morality is concerned with the norms, values and beliefs embedded in social […]
Kant’s Ethical Theory: Kantian Ethics, Categorical Imperatives, Morality
German philosopher Immanuel Kant (1724–1804) is one of the most important philosophers although he is not very easy to understand. Kant was not a consequentialist, but attempted to base his moral theory on human reason rather than on feeling, as the utilitarians do. Kant starts off with the basic question, “What is a moral belief?” […]
Swimming with the Sharks by Joris Luyendijk: Book Review
In his book ‘Swimming with the Sharks’, the author Joris Luyendijk tries to find out what were the real reasons for the 2008 crash, and if sufficient measures have been taken post the crisis to prevent such instances from happening again. When Luyendijk starts on this assignment, the first thing he notices is that the […]
Michael Lewis Liar’s Poker (Book Review)
Michael Lewis Liar’s Poker (2006 [1989]) London: Hodder “Fuckspeak” in Finance: A Sociological and Gender Retrospective (Book Review) ‘”The fuckin’ frogs are getting their faces ripped off,” said the Pirhana, meaning the French [government] were losing a lot of money’ on a bond issue (p82). The “Pirhana” was one of the senior traders who came […]
TOWS Matrix
The TOWS Matrix is a framework that enables businesses to come up with business strategies based on its SWOT analysis, by connecting the internal as well as the external factors (Weihrich, 1982). Considering the strengths, weaknesses, opportunities (SWOT) and these in mind, further strategies are formulated. Advantages of Using the TOWS Matrix A TOWS MATRIX […]
Social Science SST Subject Enrichment: Activities, Projects
Subject enrichment activities in CBSE are activities that help students learn more about a subject beyond the regular curriculum. Social Science (SST) Subject Enrichment Project Work Activity – Class IX Question: Theme: Be Inclusive in Thought and Action. Topic: Clean and Green is our Perfect Dream: Sustainable Development “Never doubt that a small group of […]
What is Organisational Lifecycle?
Every organization goes through different phases; an organizational life cycle divided into the following phases: Existence / Start-up (or Birth): Early days of the company. Survival: Organizations try to expand their business (try to achieve growth) Maturity phase: Company reaches the peak from where it becomes difficult to grow further. Renewal Phase: Companies may reinvent […]
Business Economics: Concepts, Theories and Assignments
Business economics is the study of financial, organizational, market-related, and environmental issues faced by corporations. Business Economics encompasses: Study of scarcity, product factors, distribution, and consumption. Microeconomic analysis that involves understanding Supply and Demand, Cost Analysis, Market Structures and Consumer Behaviour Macroeconomic analysis that involves understanding Economic Indicators, Monetary and Fiscal Policy, Global Economics Business […]
