Understanding mission, vision and value statements. A mission statement talks about the organization’s business, its purpose, its objectives and how it intends to meet those objectives. A vision statement details what the organization hopes to become in the future, where it aspires to go. The values statement talks about the organization’s core principles and ethics. […]
Business Management
Porter’s Five Forces: Analysis of Competitive Environment (Micro Environment)
A useful way of gaining insights into competitors and the competitive environment is through industry analysis. Porter’s five forces model is a framework that helps understand the competitive patterns within the industry in which a firm operates. Introduction An Industry is “a group of firms that produce products that are close substitutes for each other. […]
Bachelor of Management Studies (BMS): Guidelines for Project Work (Blackbook): University of Mumbai
Guidelines for Project Work (Blackbook project) for Bachelor of Management Studies (BMS) programme students (University of Mumbai) at Third Year Semester VI. Introduction Inclusion of project work in the course curriculum of the Bachelor of Management Studies programme is one of the ambitious aspects in the programme structure. The main objective of inclusion of project […]
Business Level Strategies
While strategies at the corporate level provide the broad direction, below this level are the business level strategies. Corporate level strategies lay down the framework in which business strategies operate. These strategies are then applied at the business level. Business strategies are the courses of action adopted by an organization for each of its businesses […]
Business Studies (CBSE Class 12): Projects, Assignments, Notes
Business Studies (CBSE Class 12): Projects, Assignments, Notes prepared by subject matter experts. Guidelines for Class 12 Business Studies Project CBSE Class 12 students have to make a Business Project as part of their Class 12 Business Studies (BST) wherein they have to do literature review, gather data, make inferences and give conclusions. Here’s how […]
Patanjali Promotion Mix
Patanjali is one of the very well recognized Fast Moving Consumer Goods Brand in India. The company is known for the Ayurveda concept. The company has various successful brand like Dant Kanti, Kesh Kanti, Divya Dant Manajan and many more. It will be easy for the organization to launch a product extension (such as ice […]
Environmental Scanning
Environmental scanning is an activity that helps an organization to identify the opportunities and threats in its environment. It is the systematic, ongoing collection and interpretation of data about internal and external factors that affect marketing and performance. According to Aguilar (1967), environmental scanning is the process of gathering information about a company’s external events […]
Carroll’s CSR Pyramid: Understanding the Four Levels
Carroll’s CSR pyramid is a framework that explains how organisations can take social responsibility, it highlights the four important types of responsibility of organisations. The more important responsibilities are placed towards the bottom of the pyramid. Carroll’s CSR pyramid suggests that firms should engage in practices and take responsibility at four levels – Economic, Legal, […]
Responsible Management
Responsible management in business today means balancing the interests of the entire world (people, business, environment) in order to benefit existing as well as future generations. Identify a company or organisation of your choice. identify ONE major responsible management challenge your case company faces. Choose ONE of the following corporate functions to address that challenge […]
Balanced scorecard (BSC): Framework to identify and improve internal functions
Balanced scorecard (BSC) is a strategic management performance metric that provides a comprehensive view of the business. In addition to finance measures, it also measures customer satisfaction, internal processes, and the innovation and improvement activities of the organization. Challenges of Traditional Budgeting Several executives felt for a long time that the traditional measures of financial […]
MASLOW’S Need Hierarchy Theory
Maslow’s Need Hierarchy Theory: Abraham Maslow propounded a theory of human motivation. Maslow identified five sets of human needs. The five sets of needs are arranged in a hierarchy of their importance to individuals. Maslow’s Hierarchy of Needs Maslow’s hierarchy of needs includes the following: Physiological needs Safety needs Social needs Esteem needs Self Actualisation […]
Churchill & Lewis Growth Stage Model
The Churchill & Lewis Growth Stage Model is a useful framework that helps analyse what particular stage of growth a small firm is at, and the issues and problems that they need to be aware of – now as well as in the future as the business grows. The five stages of small business growth […]
Belbin’s Team Role Theory
The Belbin Team Roles theory suggests how to select the right mix of people for a team that will help the team succeed. Every person has unique strengths and behaviour that can facilitate the progress of a team. Belbin’s theory identify behavioural strengths and weaknesses of workers at the workplace. Introduction While every firm desires […]
Tuckman’s theory: Various Stages of Group Development
Tuckman Model: Theory to understand the stages of team formation. This model reveals how teams transform as they go from the initial formation towards the completion of the project. You need a team to do take on bigger things and accomplish things faster. However, not every team works at the highest level of efficiency right […]
Functional Level Strategies
Strategies for different functions of management are known as functional level strategy. Functional Level Strategy is concerned with operational level decision making, called tactical decisions, for various functional areas such as: Marketing Finance Production Logistics Research & Development Human Resource Functional level Managers operate at lowest hierarchical level of strategic management. This level is responsible […]
McDonald’s: Internal External Factors, Marketing, Competition, Strategy
McDonald’s Internal External Factors, SWOT, Porter’s 5 Forces, Strategy, Marketing Mix. About McDonald’s McDonald’s is a fast food chain which originated in America, and was founded by the McDonald brothers Richard and Maurice in California. On a revenue scale, it is the world’s largest restaurant chain, catering to over 69 million customers on a daily […]
Entrepreneurship: Theories, Notes, Questions
An entrepreneur is someone who capitalizes on an opportunity to create a new business while talking the risks enjoying its rewards. Innovation in Business In a highly competitive world, it has become important for firms to be innovative in order to differentiate itself from competition and to get a competitive edge. Innovation in business can […]
Corporate Governance: Theories, Definition, Examples
Corporate governance refers to the collection of rules, practices, and processes to manage a company. Corporate governance is important to maintain the stability and integrity of companies as it promotes trust in the business environment. Studies suggest that there is a positive relationship between Corporate Governance and shareholders value. What is Corporate Governance? Investing is […]
Triple bottom line (TBL)
The triple bottom line (TBL) sustainability framework suggests that businesses today should strive to improve in three key areas: making profits, and caring for the people as well as the planet. The term Triple bottom line (TBL) was coined by John Elkington in 1994. TBL is an accounting framework with three parts: social, environmental and […]
LearnInMotion: HRM Case Study
Based on the information given on the company LearnInMotion, develop an HR Plan that you believe the company should implement for the next 2 years. Imagine yourself as the HR Manager the company recently hired. 1. Conduct a SWOT/TOWS Analysis to serve as the basis of your planning and key recommendations for the company. 2. […]
