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, … [Continue reading] about Budgeting 101: How Firms Control Their Finances
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 … [Continue reading] about What’s Inside an Annual Report and Why Does It Matter?
The Kapferer Brand Identity Prism is a branding tool commonly used by businesses to create a strong brand identity that resonates with its customers and sets itself apart from competitors. It provides a framework for visualizing the various elements … [Continue reading] about Kapferer Brand Identity Prism Explained
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 … [Continue reading] about Understanding Financial Ratios: Definitions and Examples
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 … [Continue reading] about Cost Accounting 101: Understanding the Basics
MarCom (short for Marketing Communication) is the use of various methods to promote products or services to the target audience. MarCom has various objective and marketers can make of use of various tools to help achieve those objectives. Marcom … [Continue reading] about Understanding Marcom: Its objectives & tools used to achieve them
The Hierarchy of Effects Theory is a model in marketing and advertising that describes the sequence of stages a consumer goes through when making a purchase decision. These stages include awareness, knowledge, liking or interest, preference, … [Continue reading] about Hierarchy of Effects Theory Explained
Brand positioning is about creating a suitable image for a brand in the minds of the target audience. As part of this process, the unique features of the brand are indetified and is communicated effectively to create a distict image of that brand to … [Continue reading] about Brand Positioning: Concepts
Service operations refer to the business and operational activities involved in actually delivering a product or service to a customer, including service design, service delivery, and service management. Learn more about the distinct concepts within … [Continue reading] about The Key Elements of Service Operations: A Comprehensive Guide
Performance objectives of operations are measurable goals that a company sets in order to ensure that its operational activities are carried out as efficiently and effectively as possible. Learn how organizations use strategic performance objectives … [Continue reading] about The Five Essential Performance Objectives of Operational Success
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 … [Continue reading] about Understanding the Transformation Process in Operations Management
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 … [Continue reading] about Principles of Management by Henri Fayol
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 … [Continue reading] about Global Leadership in Modern Times: An Intersection of Culture, Politics, and Economics
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 … [Continue reading] about Blockbusters Case Study
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 … [Continue reading] about Breaking Down the Generational Divide: Understanding X, Y, Z and Beyond
Industry 4.0 refers to adoption of cyber physical system like Internet of Things and Internet of system. 1st I.R- Used water and steam to mechanise production. 2nd I.R.- Used Electric Power to create mass production 3rd I.R- Used Electronics and … [Continue reading] about Industry 4.0: A Comprehensive Guide to the Fourth Industrial Revolution
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 … [Continue reading] about Entrepreneurship Theories & Concepts: All About Creating a Winning Business
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 … [Continue reading] about Key Traits of Successful Entrepreneurs
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 … [Continue reading] about What is Digital (Social Media) Marketing?
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 … [Continue reading] about Global Marketing Gone Wrong: The Most Embarrassing International Marketing Fails
Best Finance and Accounting: Books, Journals and Resources. Best Finance and Accounting Books Here are the best books on Finance and Accounting that are aimed at undergraduate, graduate and MBA students studying finance and accounting … [Continue reading] about Finance and Accounting: Books, Journals and Resources
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 … [Continue reading] about Global Retailing
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 … [Continue reading] about Global Branding and Glocal Branding Strategies
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 … [Continue reading] about Economic Integration: Various Levels 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 … [Continue reading] about Self-Reference Criterion (SRC) Explained
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 … [Continue reading] about The EPRG Framework/Model of International Business
There are several change management models that help organisations implement change successfully. Here we take a look at the various models and theories to help manage change. Introduction to Change Management Change management refers to changes to … [Continue reading] about Change Management: Various Models/Theories to manage change better
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, … [Continue reading] about The Rising Power of Emerging Markets
Best Human Resource Management (HRM) Books, Journals and Resources. Books Essentials of international human resource management : managing people globally. International human resource management : the transformation of work in a global context. … [Continue reading] about Human Resource Management (HRM): Books, Journals and Resources
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, … [Continue reading] about Understanding Global Competition and Strategies Moves
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, … [Continue reading] about The 4 Vs of Operations Management Explained
Prahalad (2004) and Karnani (2007) discuss the role of private sector companies in responsibly serving bottom of the pyramid markets (low income markets) in efforts to reduce poverty. Prahalad (2004) suggests that businesses and governments should … [Continue reading] about Bottom of the Pyramid (BOP) Markets
Global advertising may be defined as messages whose art, copy, headlines photographs, taglines, and other elements have been developed explicitly for worldwide suitability. A standardized ad campaign requires a key message, delivered to the target … [Continue reading] about Global Advertising: Breaking Down Borders
In a globalized world, the entire world is a marketplace, and market segments are no longer considered based only on the basis of national borders. Products have always been travelling and international trade has existed for centuries. While … [Continue reading] about Global Marketing: Definition, Scope, Strategies, Examples
Marketing operates in a complex and changing environment. The marketing environment is the environment that a business operates in (Whalley 2010, p. 50). It involves the actors and forces outside marketing that affect marketing management’s ability … [Continue reading] about Marketing Environment: Understanding the internal and external environment
Every business needs product/services that it can sell to potential customers. While firms would prefer to have standardized products that they can sell over the world, there are various factors that compel firms to adapt their products. In general, … [Continue reading] about Product Adaptation and Standardization
Product is the first element of the marketing mix, and developing a product strategy requires coordinated decisions on product mixes, product lines, brands and packaging and labelling. In planning its market offering, marketers need to think through … [Continue reading] about Product (P of Marketing Mix) & Product Mix: Definition, Features, Examples
The success of a global strategy is influenced by the selection of an appropriate organizational structure to implement that strategy. The ideal structure of such as an organization should be a function of: the products and services to be sold in a … [Continue reading] about Organizational Structures for Global Marketing
The Pugh Matrix is a decision-making tool that is used to compare multiple alternatives and select the most favourable one. In this method, the various options are evaluated based on several weighted criteria. This is a variation of the L-shaped … [Continue reading] about Decision-Making Matrix (Pugh Matrix)
Global Market Segmentation: Here's how firms screen and select country markets to enter. Importance of Entering the ‘Right’ Market There are over a couple of hundred countries and territories, but most firms do not compete in all those markets. … [Continue reading] about Global Market Segmentation: How firms assess and select markets
Human resource management (HRM) includes processes and activities for effective workforce management. Learn more about the various practices and theories related to HRM. Importance of Human Capital The success of businesses depends a lot on the … [Continue reading] about Human Resource Management (HRM): Definitions, Concepts, Theories
Foreign Market Entry Strategies: Various ways to enter the international market. Any company that wants to enter the international market has to take some strategic decisions pertaining to that foreign market; it has to analyse the market and plan … [Continue reading] about Market Entry Modes in Global Marketing: Expansion Strategies
International marketing refers to the activities related to the sale of goods and services of one country in other countries. While international trade is about commerce between countries, international marketing is about promotion of products and … [Continue reading] about International Marketing: Scope, Strategies, Examples
Marketing mixes can be standardized (global) or they can be adapted (local). Marketing mixes of most global companies tend to be "glocal" with some amount of localization. Standardisation vs Adaptation in International Marketing Once the firm has … [Continue reading] about Standardisation vs Adaptation (Glocalization) in International Marketing
Internationalization is the process of expanding business operations beyond domestic boundaries to international markets using various market entry modes. Let's understand the motives behind a company’s decision to compete in global markets, and the … [Continue reading] about Internationalization: Definition, Models, Barriers
Put simply, Free trade is international trade where there are no government policies restricting the import and export of goods and services. While economists consider this as the best approach to maintain a healthy global economy, this is more of a … [Continue reading] about Understanding Free Trade: Definition, Pros, and Cons
Culture is gaining more attention in business nowadays as it is known to impact business due its influence on manners, behaviours, business negotiation process, decision making, etc. Due to globalisation, businesses are expanding their operations … [Continue reading] about Organization Culture: Importance, factors and how it can be changed
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, … [Continue reading] about Leadership (Organizational Behavior)
Various strategies (innovation, growth) adopted by Netflix to become the largest streaming service provider in the world. About Netflix Netflix, the world's largest online streaming services provider, serves a diverse subscriber base globally. Its … [Continue reading] about Netflix: Various Strategies
Kotter's 8-step change model is a change management model that lays down the process for organizations to efficiently implement a new change initiative. Introduction to Kotter's Change Model Dr. John Kotter had first introduced the model in his book … [Continue reading] about Kotter’s 8-Step Change Model Explained