Learn about key strategies and best practices for effective inventory management to optimize stock levels, reduce costs, and improve business efficiency. In this article, we will understand the purpose of inventory, characterize the inventory policies in EOQ model, discuss other issues in inventory management, and discuss supply chain strategies in practice. Inventory Management: Basics What […]
Business Management
Principles of Management
The principles of management encompasses concepts and practices related to effective management within organizations. For example, Henri Fayol’s fourteen principles of management lists guidelines for division of work, unity of command, equity, etc. for managing organizations effectively. Here are various concepts related to effective management within firms. An organisation is a social entity that is […]
What’s Inside an Annual Report and Why Does It Matter?
Understand the annual report and its key components and why they are more just numbers. Here’s your ultimate guide to company performance metrics. Learn to interpret and analyse the Income Statement and Statement of Financial Position. What is the Annual Report? The annual report is a comprehensive report that provides information on the financial performance […]
Understanding Financial Ratios: Definitions and Examples
Understand more about financial ratios and what they inform about the business. Learn to calculate and analyse some key financial ratios and draw overall conclusions about a business based on these ratios. “A set of accounts is like a book, which contains the story of a business…but like any good book there is a hidden […]
Agency Theory & Agency Problem Explained
Agency Theory is the framework that explains the relationship between business principal and their agents. and Agency Problem is a specific issue that can arise within that framework. What is the Agency Theory? Agency Theory is a framework that explains the relationship between business principals (who hires someone) and their agents (who acts on the […]
Board Diversity: Diversifying the board for better governance
A diverse board can promote transparency, ethical behavior, and responsible decision-making. The need for better corporate governance is causing an increasing interest in board diversity, and it is now an important issue for managers, directors and shareholders. As a result, more studies are being carried out within corporate governance to understand how board composition influences […]
Understanding Psychic Distance in Internationalization
Psychic Distance is an often discussed theme in internationalization of firms. Psychic Distance refers to the differences in the business environment between the nation of origin (of a firm) and the foreign market. This is considered a one of the factors that disturbs the flow of information between firm and the market. Greater the Psychic […]
The Born global model of Internationalization
Some newer firms are not gradually approaching global markets but they are jumping directly into global markets. Such firms are termed ‘Born Globals’. The Born Global Model is a business strategy in which a company engages in international business right from its inception. This is a contradictory approach to most other traditional internationalization models, which […]
The Uppsala Internationalization Model
The Uppsala model of Foreign Direct Investment (FDI) is a theory that explains the internationalization process of firms. The model argues that firms invest in countries which are similar to their home countries. During the 1970’s a number of Swedish researchers at the university of Uppsala focused their interest on the internationalization process. They studied […]
Dunning’s Eclectic Paradigm (OLI Framework) Explained
The electric paradigm (OLI) remains the most dominant theory to explain the activities of Multinational Enterprises (MNEs). Developed by Dunning, the OLI model explains that the choice of market selection depends on three economic advantages known as ownership, location and internalization advantages. Eclectic Paradigm (OLI) The eclectic paradigm or the OLI framework (OLI stands for […]
Who is a Stakeholder? Definition and Examples
Stakeholders are individuals or groups that depend on an organisation to fulfill their own goals and on whom, in turn, the organisation depends. A stakeholder is anyone that has an interest in a business; these can be in the form of customers, employees, suppliers and community. Stakeholders include all those invested and involved in, or […]
Resource Dependence Theory Explained
Resource Dependence Theory (RDT) is a framework that suggests that firms are not self-sufficient entities but are instead reliant on various resources in their environment for survival. These resources include capital, raw materials, technology, expertise, etc. One can find the application of Resource Dependence Theory in organizational behavior and strategic management. This theory helps understand […]
What is Research?
Research is a human activity based on intellectual investigation and aimed at discovering, interpreting, and revising human knowledge on different aspects of the world. The most important characteristics of formal research (as defined by Paul Leedy) is that it involves the interpretation of data to draw conclusions. Research originates with a question or problem. Research […]
Role of Media
Right from the beginning, the role of media has been to enable the communication of information, news, messages to reach a wide audience, and more importantly, over the geographical dispersed audience. Over the years, the media became a powerful tool to disseminate information. What is Media Media refers to the main means of mass communication […]
Understanding a Multinational Corporation (MNC)
When discussing a Multinational Corporation (MNC), terms like Multinational Enterprise (MNE) and Transnational Corporation (TNC) are also commonly used. While they are all involved in international operations, there are some distinctions between these terms. An MNC is a firm that is involved in the production of goods or services in at least one country other […]
Stakeholder Theory Explained
Stakeholder theory states that the objectives of creditors, customers, employees and society as a whole should be included. The stakeholder theory, put forward by Edward Freeman, links to corporate social responsibility but the main difference is that it starts from the world’s perspective rather than starting from a business perspective. It takes into account benefits […]
Common Sentence Writing Problems & How to Fix Them
In academic writing, Undergraduate and Masters students often encounter specific challenges that can affect the clarity and quality of their sentences. Being aware of these common issues while framing sentences and actively working to address them during the writing and revision process can significantly enhance the quality of your academic writing. Here are some common […]
What is Branding? Basics & Concepts of Brand Management
In Brand management, terms like brand, brand values, brand image, brand identify, brand position, brand equity, brand performance, may seem related, they have distinct meanings in brand management although they may be interconnected. For example, a brand has an identity, which contributes to its image, position, and equity. The values of a brand guide its […]
Colloquium (Presentation) for Thesis or Dissertation: How to write, structure
In the context of a thesis or dissertation, a colloquium typically refers to a presentation or oral defense of the research work done by the student. It is an opportunity for the student to present their findings, methodology, and conclusions to a panel of faculty members, experts, and peers. Once you have completed your thesis/dissertation, […]
Thesis Statements: How to write (Examples)
A thesis statement is an important part of an academic paper as it helps the reader to clearly identify the points to be discussed in the rest of the paper. It typically appears towards the the end of the introduction of the article. Including a thesis statement in your academic writing (essay, research paper) helps […]
