A special economic zone (SEZ) is an area within a country that has business-friendly trade and business laws and is subjected to different economic regulations from the rest of the country. SEZs are set up to boost economic activity, promote exports, … [Continue reading] about Special Economic Zone (SEZ): Case Studies
Comparative advantage is the ability of a country to produce a particular good or service more efficiently (at a lower cost) than its trading partners. Comparative Cost Advantage is a situation in which a country, individual, company or region can … [Continue reading] about Comparative Advantage trade theory
Understand the importance and characteristics of global production chains. Understand the political, economic, ethical and social issues raised by the existence of global production chains. Understand the nature of employment and labor rights in … [Continue reading] about Understanding Global Value Chains (GVCs)
An organizational structure is a system set in place, by which work flows within a firm, that helps the firm achieve its goals. Organizational Structure: Types and Importance Here, we take a look at the importance of organisational structure in terms … [Continue reading] about Organizational Structure: Types and Importance
International (Global) Trade concepts and theories. Understand free trade, protectionism, role of bodies like WTO in promoting free trade, regional economic integration and trade agreements. Understand the various theories of trade that explain why … [Continue reading] about International Trade: Concepts & Theories
Globalization changes the business environment and presents new opportunities as well as pose new challenges to organisations operating in a global business. This resource guide helps understand globalization and key related concepts. What is … [Continue reading] about Globalization: Concepts and resource guide
There are benefits to free trade, but some parties could lose out as well; that is why governments may feel the need to interfere and regulate certain aspects of the trade. Let's understand why governments control trade and identify methods … [Continue reading] about Trade Protectionism: Impact of Tariffs and Trade Barriers on International Trade
As per the equity theory of motivation, when people see fairness and justice around them, they are motivated, and if they see unfairness and injustice around them, they become demotivated. This is how human beings really feel when it comes to … [Continue reading] about Equity theory of Motivation – Adams (1965) (Process Theory)
With increased globalization, many companies see the benefits of engaging in international trade; there's opportunity to earn more revenue and to place your products and services in front of a wider audience. However, a business should also weigh in … [Continue reading] about What trade risks and financial risks does a multinational company face?
The GE-McKinsey (9-box) Matrix (aka Directional Policy Matrix) is a tool that enables a firm to understand which are its strong products/segments, where it has a strong competitive position so that it can focus better on those areas. This tool … [Continue reading] about GE-McKinsey Matrix / Directional Policy Matrix
Here are various strategies adopted by Walmart over the years that has helped the company become a retail giant. Pricing Strategy The pricing strategy of “Everyday Low Prices” has been at the core of the business model of Walmart. This strategy is … [Continue reading] about Walmart: Various Strategies
New Product Development (NPD) refers to the process or steps needed to produce a new product and introduce it in the market. In order to improve customer satisfaction and to increase market share, firms use strategies such as regularly introducing … [Continue reading] about New Product Development (NPD): Various Models
Operations Management is everywhere around us. The concept of operations management applies to every business activities (manufacturing of products or rendering of services) that involves or requires a sequential process. Operations management is … [Continue reading] about Operations Management and Operations Strategy
Toilet paper shortage was a strange side-effect of the Covid19 pandemic. As lockdown was enforced in the US, people resorted to panic buying of toilet paper rolls resulting in several shortage on toilet rolls in leading retail stores. Here are … [Continue reading] about Toilet paper shortage: Lessons in supply chain
Logistics management, a component of supply chain management, is the process of efficiently transporting goods from the starting point to the destination. It involves steps such as acquisition, storage and transportation of inventory. Here we will … [Continue reading] about Logistics Management: Core concepts
Aaron Quinn raises the ethical issue of manipulating images in Photojournalism, through the use of computers, high-end camera gear and imaging editing software, as most readers feel that the images they see in newspapers and media is manipulated by … [Continue reading] about Ethical Issues in Photojournalism/Photography
Ethics is a branch of philosophy that studies morality, and Ethics in technology addresses ethical questions specific to the Technology Age. Professional ethics falls under the sub discipline of applied ethics as its purpose is to reason about, and … [Continue reading] about Ethical Issues with respect to Technology
Key issues in the ‘Kohlberg–Gilligan conflict’ and reasons why Gilligan criticized Kohlberg. Kohlberg’s research is based on the cognitive development theory in psychology adopting a functional perspective on ethical behaviour which assumes … [Continue reading] about Kohlberg and Gilligan theory of moral development: Differences
Corporate Social Responsibility (CSR): Importance in recent years and explanation of various concepts What is Corporate Social Responsibility (CSR)? Corporate social responsibility (CSR), also known as corporate responsibility (CR) or business … [Continue reading] about Corporate Social Responsibility (CSR): Theories
Foreign Direct Investment (FDI) explained. Understand concepts, key terms, and also find case studies related to FDI. These terms are commonly used while talking about FDI. MNCs/MNEs - nomenclature of foreign business FDI-inward/outward Domestic/ … [Continue reading] about Foreign Direct Investment (FDI): Basics, Concepts, Case Studies
The US-China trade war has been escalating for some time now, especially after the Covid-19 pandemic. More companies are planning to diversify their supply chain after the Covid-19 pandemic crippled their business. Also, it's getting too bureaucratic … [Continue reading] about US-China trade conflict
Business ethics addresses issues of right and wrong in decision making, but how does one decide what is right and what is wrong. Importance of Business Ethics Business ethics addresses issues of right and wrong in decision making. Law also tells … [Continue reading] about Business Ethics & Responsibility: Theories, Definition, Principles, Examples
The business canvas model is one of the more commonly used frameworks that are used to explain the business model of a firm, and to explain the more important elements of the business. The canvas displays all this information in a single view thereby … [Continue reading] about Business Canvas Model
The Value Proposition Canvas is a useful tool to understand how a new product/service that a business plans to introduce can help the buyers. The canvas consists of two sections, the customer profile and value proposition (Osterwalder et al., … [Continue reading] about Value Proposition Canvas
What is WTO (World Trade Organization) and its importance in international trade. Introduction to WTO The World Trade Organization (WTO) is a global body that deals with the rules of trade between nations. The WTO strives to ensure trade flows as … [Continue reading] about Role of WTO (World Trade Organization) in International Trade
Technological Environment (Domestic or Foreign Technological Factors) and its impact on business. Two of the principal divers of global development have been speed of communication and the reduction in cost of technology. New technologies in both … [Continue reading] about Technological Environment: Impact on business
Economic environment refers to the external economic factors that can influence businesses as well as consumer behavior, and in turn impact the performance of a business. Economic environment factors are further categorized as macroeconomic factors … [Continue reading] about The Economic Environment facing Business
The legal environment of a country is framed by its government and comprises of business laws that every business operating in that country must adhere to. Legal Environment (Domestic or Foreign Legal Factors) stems from the political stance and … [Continue reading] about The Legal Environment facing business
Political Environment (Domestic or Foreign Political Factors) includes any domestic and foreign political factors which may affect the organization’s decision making, planning, implementation and control mechanisms. Marketers have to work within the … [Continue reading] about The Political Environment facing business
Culture is an intangible and wide-ranging concept whose theoretical basis is based in several traditional fields of research including anthropology, management, psychology and other social sciences is culture. Culture has many views; however, a … [Continue reading] about Culture and Impact of Socio-Cultural Environment on Business
As part of the industry or sector analysis, it is important to examine the activity of competitors. Competitive analysis is about assessing the nature and extent of competition in the organisation’s market place. As part of competitive analysis, … [Continue reading] about How to do Competitor Analysis
Introduction to marketing: Various definitions, marketing mix, sales vs. marketing, marketing plans, and more. What is Marketing? Marketing is an organizational function and a set of processes for creating, communicating and delivering value to … [Continue reading] about Introduction to Marketing: Useful Concepts
Ansoff Matrix, often referred to as the Product/Market Expansion Grid, is a strategic planning framework used by firms to help plan their growth initiatives. The matrix talks about four different growth alternatives - market penetration, market … [Continue reading] about Ansoff Matrix Explained
Strategic capabilities refer to the resources and competences of a firm that it uses to compete with rivals in the market. These usually comprise a firm's strengths and weaknesses and could serve as a source of competitive advantage (or disadvantage) … [Continue reading] about Strategic Capabilities
McKinsey's Three Horizons of Growth suggests that a firm should categorize its various goals into three different 'horizons' in order to effectively focus on growth as well as innovation. Horizon 1 Current core activities – extend and defend these … [Continue reading] about McKinsey’s Three Horizons of Growth
The Internal Environment includes all aspects that are directly within the span of control of the global company and can be altered, stopped or started at its decision, e.g. strategy, structure, people, processes, resources. What is the Internal … [Continue reading] about Internal Environment Analysis
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 … [Continue reading] about Mission, vision and value statements: Definitions & examples
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 … [Continue reading] about Porter’s Five Forces: Analysis of Competitive Environment (Micro Environment)
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 … [Continue reading] about Business Level Strategies
Strategic management is the process of setting goals, objectives and developing plans, policies in order to achieve those objectives, and then allocating the requisite resources to implement those plans. This is done in order to make the firm more … [Continue reading] about What is Strategic Management?
One of the main objectives of the branding team of a company is to increase the brand equity of the organization. There are several ways in which this can be done, and one of the ways is to follow the Keller’s Brand equity model (also known as the … [Continue reading] about Keller’s Brand equity Model (CBBE Model)
Understand the criteria available to evaluate potential strategic options developed within an organisation. Here's how Strategy Evaluation is typically carried out in big organizations. First, the firm assesses the performance outcomes of the … [Continue reading] about Strategic Evaluation: Tools/techniques for Evaluating Strategies
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 … [Continue reading] about Environmental Scanning
Overview of the various leadership theories (Great Man Theory, Trait Theory, Behavioural Theory, Contingency Theory, Situational Theory, Transactional Theory, Transformational Theory, and others) that describe why certain individuals develop … [Continue reading] about Leadership Theories Explained
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 … [Continue reading] about Carroll’s CSR Pyramid: Understanding the Four Levels
Consumers can often be their own "worst enemies". Consumers’ desires, choices, and actions often result in NEGATIVE consequences to themselves and / or to society. Social pressures, a culture’s value of money, exposure to unattainable ideals of … [Continue reading] about Deviant Consumer behaviour
Schiffman and Kanuk uses a marketing segmentation approach to explain Consumer Behaviour. The authors have explained the model in their book named 'Consumer Behaviour'. Consumer buying behaviour is the study of the buying behaviour of consumers; it … [Continue reading] about Schiffman and Kanuk’s model of Consumer Behaviour
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 … [Continue reading] about Balanced scorecard (BSC): Framework to identify and improve internal functions
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 … [Continue reading] about MASLOW’S Need Hierarchy Theory
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 … [Continue reading] about Leadership Styles: Various types