Understand the purpose of budgets, learn to interpret information provided in budgets, and learn to critique the benefits and shortcomings of budgets. Why is Budgeting Important So what is the purpose of budgets? We all budget in our personal life, such as for holidays or making a bigger purchase. Businesses also do the same. A […]
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A Tomato that pushes you hard
Here’s a technique that you could use that will provide you enough time to accommodate more into your daily routine. Being efficiency is something that everybody aims for, but when you are on your own, you need tools that will push you to work harder, lest it’s very easy to get distracted. Here’s a simple […]
Types of Market Structures Explained
Market structure refers to how a market is setup, its organizational characteristics and the level of competition within the market. Market structure influences pricing, product differentiation, and other market dynamics. Perfect Competition In a perfect competition market structure, there are many buyers and sellers. There is no one big seller that dominates the market. Monopolistic […]
The Stability (and Instability) of the Market Economy
Stability of the Market Economy Classical/Neoclassical View The economy is inherently stable. Any instability is a temporary phenomenon as the market (forces of demand and supply) has strong self-correcting tendencies which make it stable. For example, this is highlighted by: The market for loanable funds The important characteristics of this market are: The economy’s output […]
Measures of Economic Activity and Wellbeing
The learning outcomes for Economics are very broad and require us to take a critical perspective on economics. Thus, we cannot simply go through the typical introduction to economics topics such as the supply/demand model, perfect competition, monopoly, macroeconomic income determination and the like. We do go through each of these topics but we also […]
Goldilocks Economy Explained
A Goldilocks economy is an ideal economic state where every thing is economic stability. There is optimal growth, low inflation, full employment, balanced saving and spending. In such an economy, there is no risk of high inflation or recession. In the economic climate, there are three basic conditions: hot, cold and warm. A hot climate […]
Global Leadership in Modern Times: An Intersection of Culture, Politics, and Economics
Effectiveness of global leadership is seen as a key factor in global success today. Find insights on effective global leadership. Understand leadership within the context of global organizations and the interdependent world. Understand the traits and characteristics of a Global Leader that promote cross-cultural collaboration. Need for Global Leaders The world today is highly interconnected […]
Leadership (Organizational Behavior)
The communities where we live and work are facing complex challenges such as climate change, economic uncertainty, income inequality, multicultural relations, geopolitical unrest and other seemingly uncontrollable forces. People are stressed, confused, anxious, on edge. When we think of leadership in such times, we immediately look toward the dynamic individual leader who can guide us […]
Acid Test of Corporate Identity Management
The “Acid Test of Corporate Identity Management” is a new approach to corporate identity management. The framework, developed by Balmer and Soenen, enables organizations to assess and improv their corporate identity strategy. As per Balmer and Soenen (1999) there are five type of identities present in any organisation. Actual identity: The reality of the organisation […]
Leadership Styles: Various types
Various types of leadership styles explained. From Mahatma Gandhi and Winston Churchill, to Martin Luther King and Steve Jobs, there can be as many ways to lead people as there are leaders. Fortunately, business people and psychologists have developed useful styles that describe the main ways that people lead. When you understand these styles, you […]
Theories of Motivation: Leading and managing people in organizations
Theories of Motivation: Understand how motivation is used to lead and manage people in organizations. What is Motivation Motivation is basically the intention or reason for an individual’s activities and desires. It stimulates a person to do things or behave in a definite way. All employees work towards achieving organisational effectiveness but they all have […]
What is Organization?
What is an organisation? An ‘organisation’ is a group of individuals working together to achieve one or more objectives. Although organisations have been defined differently by different theorists, virtually all definitions refer to five common features: they are composed of individuals and groups of individuals they are oriented towards achieving collective goals they consist of […]
Top Market Research reports and databases for data
Market Research reports, sources, and database (Mintel, MarketLine Advantage, PASSPORT) for consumer, country, industry, and financial data for every marketplace in the world. These are excellent resources to collect secondary data. Mintel Academic: Research Reports, Sources & Guides Mintel Academic: UK market research reports covering business finance, business technology, business healthcare, leisure, clothing and footwear […]
SCAMPER: Creative Brainstorming Technique
The SCAMPER technique is a problem-solving technique that encourages users to creatively generate innovative solutions. SCAMPER is an acronym for Substitute, Combine, Adapt, Modify, Put to other uses, Eliminate, and Rearrange (or Reverse). Substitute: What can be substituted or replaced (for example: components, people) Combine: What can be combined or integrated? (for example: other features, […]
ILO International Labour Organization (ILO)
The ILO is the only international organization focused on global labor rights, aiming to promote decent and productive work with freedom, justice, security, and human dignity. The ILO’s primary goals include advancing employee rights, providing adequate job opportunities, ensuring social safety, and facilitating workplace communication. What the ILO is and what it what it does […]
The Elevator: Summary & Analysis
“The Elevator” by William Sleator is a short story about 12-year-old boy Martin trapped in an old, cramped apartment elevator with a woman in a green coat. The story highlights themes of fear, isolation, and paranoia. This short story is authored by William Sleator, a renowned American author of science fiction and horror stories, primarily […]
The Glove and the Lions: Summary & Analysis
‘The Glove and the Lions’ by Leigh Hunt talks about games of love played in the royal court of the king, and how it can turn dangerous when it goes too far. Summary “The Glove and the Lions” by Leigh Hunt shows how true love differs from vanity. A lady tests her lover’s bravery by […]
The Highwayman Poem: Summary & Analysis
“The Highwayman” by Alfred Noyes (1906) recounts the tragic romance between a highwayman (robber on horseback) and a landlord’s daughter Bess. After soldiers ambush the inn and take Bess hostage, she kills herself to warn her lover. Upon hearing of her death, the highwayman tries to get revenge but is killed. However, the two reunite […]
Cost Accounting 101: Understanding the Basics
Cost accounting involves summarizing and analyzing all the costs associated with the business activities. This practice also makes it easy to understanding the various costs associated with the business and how those costs impact the business and its profits. Learn more about cost accounting and why its needed in organisations. What is Cost Accounting? Management […]
Perceptual Maps (Positioning maps/P-maps)
A perceptual map (P-map) is a tool used to illustrate the consumer’s perceptions of a product/ brand. A perceptual map is a tool for determining the position of a brand in the marketplace, based on consumer perceptions of the brand and its competitors, using attributes that are important to consumers. The various attributes can be: […]
