The transformation process refers to the series of activities that transform inputs into outputs and is a core concept in the study of operations management. This framework is commonly used in operations management to optimize the various processes and to streamline operations. Introduction The transformation process refers to the various activities that businesses undertake to […]
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Principles of Management by Henri Fayol
French management theorist Henri Fayol developed the concept of the 14 Principles of Management that describe how managers should ideally organize work and manage employees in a business environment. Henri Fayol’s Contribution to Management Henri Fayol is credited with developing one of the earliest comprehensive management theories. His contribution to the field of management science […]
Blockbusters Case Study
A classic example of an organisation that failed to innovate and strategically adapt to both changes and pressures in the external environment (particularly technological changes) and its strategic positioning in a rapidly changing marketplace was Blockbuster. Blockbuster was a company that dominated the video rental market in the 1980’s and 90’s. From its start in […]
Breaking Down the Generational Divide: Understanding X, Y, Z and Beyond
A Guide to the various Generations, from Boomers to Gen Z and beyond. Understand the various generations of people, their differences and similarities, their unique experiences and perspectives. Learn about the various strategies to communicate and manage a multi-generational workplace. Understanding the Various Generations BabyBoomers: Born between 1945 and 1964, C suite jobs, settled and […]
Entrepreneurship Theories & Concepts: All About Creating a Winning Business
Entrepreneurship is the process of starting and running a new business with the goal of making a profit. It requires a combination of vision, creativity, perseverance, adaptability, business acumen, and willingness to taking risks. It typically involves identifying a commercial opportunity, developing a business model, secure funding, assembling a team, and bring a product or […]
Key Traits of Successful Entrepreneurs
Entrepreneurial traits and characteristics are the personal qualities and skills that successful entrepreneurs possess. Let’s take a closer look at some of these traits. The description of the enterprising person is drawn from what is known about entrepreneurs; the idea being that the enterprising person shares entrepreneurial characteristics. Just as there are different types of […]
What is Digital (Social Media) Marketing?
Digital marketing is marketing using digital channels, such as the internet, social media, email, mobile apps, and more. It enables businesses to reach out to potential customers through various electronic devices, including desktop computers and mobile phones. The Rise of Social Media Studies reveal that people spend almost one quarter of their online time on […]
Global Marketing Gone Wrong: The Most Embarrassing International Marketing Fails
Global Marketing Gaffes: Here are some examples of how companies failed when localizing their business in different countries leading to embarassing results. Braniff International Airlines translated a slogan touting its finely upholstered seats “Fly in Leather” into Spanish as “Fly Naked.” Clairol launched a curling iron called “Mist Stick” in Germany even though “mist” is […]
Market Research: Examples, Case Studies
Market research is the systematic process of collecting, analyzing, and interpreting information about a market, product, or service. It is a vital tool for businesses to gain insights into their target audience, understand consumer preferences and behavior, identify market trends, and evaluate the viability of a new product or service. By conducting market research, businesses […]
Research Ethics to consider when designing research
An ethic is basically a moral principle or code of conduct which influences what individuals and communities do. In academics (projects and dissertations), ethics are concerned with the way students behave in conducting their research work. It is important to carry out research work in accordance with sound ethical practice. A research work may be […]
Placement Report: Reflect on your work placement experience
A work placement report is a summary of a student’s experience during a period of work as part of their studies, often as part of an internship or co-op program. A work placement report reflects on your work placement experience from a developmental perspective by drawing in theory and its application in the workplace. A […]
Global Retailing
Global Retailing is any retailing activity that crosses national boundaries. For centuries entrepreneurial merchants have ventured abroad to seek out merchandize and to establish retail operations. Today’s global retailing scene is characterized by great diversity. Diversity in the Global Retailing Scene Department stores literally have several departments under one roof, each representing a distinct merchandise […]
How to get notes from a Chapter: Effective ways
Even though the current education model is interactive and immersive, and students no longer have to learn things by rote methods, many parents and students feel the pressure before exams/assessments/unit tests. And I am talking about primary school students here. Going through all the chapters of the textbook before the exams can be daunting, even […]
Global Branding and Glocal Branding Strategies
Branding is about creative a strong perception of a company and its product/services in the minds of the consumers. A truly global brand: meets the wants and needs of a global market is offered in all world regions has the same brand name, and in some instances, a similar image and positioning throughout the world. […]
Economic Integration: Various Levels Explained
Economic integration is an arrangement between several countries to improve trade between them. In the global landscape, Economic Integration usually can be classified into various additive levels. Regional Economic Integration (Preferential Trade Agreement) The WTO promotes free trade on a global basis, however countries in each of the world’s regions are seeking to liberalize trade […]
Self-Reference Criterion (SRC) Explained
In attempting to understand anther culture, we inevitably, interpret our new cultural surrounding on the basis of existing knowledge of our own culture. There is a human tendency towards ethnocentricity. These ‘biased’ interpretations happen unconsciously, and they prevent cultural empathy. Lee (1966) introduces the self-reference criterion to characterize our unconscious reference to our own cultural […]
The EPRG Framework/Model of International Business
EPRG (acronym for Ethnocentric, Polycentric, Regiocentric, and Geocentric) is a framework to explain internationalization approaches of businesses. It is used in the internationalization process of businesses, and helps understand the type of orientation a firm may have towards international business. The EPRG Framework explains Management assumptions (conscious & unconscious) or beliefs about doing business around […]
The Rising Power of Emerging Markets
The Emergence of a New Economic Powerhouse: The rise of BRICS (Brazil, Russia, India, China and South Africa) as the 21st century’s engines of global economic growth. There is a shift of power within the world economy towards these countries, especially China. These countries look interesting for global marketers due to the following reasons: Growing […]
Understanding Global Competition and Strategies Moves
Understand the structure of Global Competition and resulting strategic options. The Globalization of Competition An inevitable consequence of globalization of markets is the growth of intense competition on a global scale. Liberalization, deregulation and privatization are the three forces that are transforming the global business environment and lead to a greater number of competitors and […]
The 4 Vs of Operations Management Explained
In Operations Management, the 4Vs refer to the four dimensions used to assess operations processes. Typology of Operations: 4Vs Operations can be categorised into four dimensions, referred to as The 4Vs typology. These four dimensions are Volume, Variety, Variation in demand, and Visibility. Volume It refers to the Quantity (units) of products that a company […]
