Posted on

Entrepreneurship and Startup

Running any business is a matter of much dedication, strategy planning as well as having an eye for detail. With proper coordination of your ideas, you can ensure that the company thrives. There are different kinds of business. While some are termed as start-ups, and the others are called entrepreneurship. It is a notable fact that all entrepreneurship are not startup as well as there are certain fundamental differences between the two. This difference has to be understood thoroughly to run a successful business. The major differences lie in the concept of entrepreneurship and startup as well as when you have a clear understanding of the terms as well as the characteristics of the types of companies you can ensure that you can master the business on your own.

Entrepreneurship refers to all business ventures, new or old. It includes sole-proprietorship, small businesses, partnerships, firms, and corporations. It can be based on an existing idea or on a new idea.

Startup: In the most basic sense, a startup is a newly emerged business venture. It is started by individual founders to meet a market gap. Founders are new or serial entrepreneurs. Nowadays, startups mostly mean new businesses that are solving market’s problems with unique ideas. A startup seeks to create a viable and scalable business model.

Startups do differ from entrepreneurships. Startups intend to solve problems uniquely and to grow large. Start-ups face high uncertainty and have high rates of failure. A minority go on to be highly successful and influential.

[title text=”Startup” link_text=”See more from basic to advanced” link=”/category/corporate-management/startup/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ ids=”10862,10875″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=“249” posts=”3″ offset=”23″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=“249” posts=”3″ offset=”20″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=“249” posts=”3″ offset=”17″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=“249” posts=”3″ offset=”14″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=“249” posts=”3″ offset=”11″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=“249” posts=”3″ offset=”8″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=“249” posts=”3″ offset=”5″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=“249” posts=”5″ offset=”0″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[title text=”Entrepreneurship” link_text=”See more from basic to advanced” link=”/category/corporate-management/entrepreneurship/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ ids=”10859,10875″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”122″ posts=”3″ offset=”79″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”122″ posts=”3″ offset=”76″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”122″ posts=”3″ offset=”73″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”122″ posts=”3″ offset=”70″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”122″ posts=”6″ offset=”64″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”122″ posts=”6″ offset=”58″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”122″ posts=”6″ offset=”52″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”122″ posts=”6″ offset=”46″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more Entrepreneurship” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”/category/corporate-management/entrepreneurship/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more Startup” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/startup/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Firm Strategy and Strategic Management

In the field of management, a firm strategy is a comprehensive plan to achieve its goals in the face of these conditions. Strategy defines how a firm will achieve long-term success. Strategy is defined as “the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals” (Chandler, 1962) Strategies are established to set direction, focus effort, define or clarify the organization, and provide consistency or guidance in response to the environment (Mintzberg, 1987). Determining the strategy is a critical decision for management because it involves a significant commitment of resources and, once initiated, it is very difficult and costly to change.

Firm strategy involves the formulation and implementation of the major goals and initiatives taken by an organization’s managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Firm strategy provides overall direction to an enterprise and involves specifying the organization’s objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Firm strategy is not static in nature; the models often include a feedback loop to monitor execution and to inform the next round of planning.

Michael Porter identifies three principles underlying strategy:

  • creating a “unique and valuable [market] position”
  • making trade-offs by choosing “what not to do”
  • creating “fit” by aligning company activities with one another to support the chosen strategy

Management theory and practice often make a distinction between strategic management and operational management, with operational management concerned primarily with improving efficiency and controlling costs within the boundaries set by the organization’s strategy.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/strategy/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”210″ posts=”3″ offset=”98″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”210″ posts=”3″ offset=”95″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”210″ posts=”3″ offset=”92″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”210″ posts=”3″ offset=”89″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”210″ posts=”6″ offset=”83″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”210″ posts=”6″ offset=”77″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”210″ posts=”6″ offset=”71″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”210″ posts=”6″ offset=”65″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”210″ posts=”6″ offset=”59″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”210″ posts=”6″ offset=”53″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”210″ posts=”6″ offset=”47″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”2″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”210″ posts=”6″ offset=”43″ show_date=”false” excerpt_length=”26″ comments=”false” image_height=”56.25%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/strategy/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Human Resource Management and Organizational Culture

Human resource management (HRM or HR) is the strategic approach to the effective management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer’s strategic objectives. Human resource management is primarily concerned with the management of people within organizations, focusing on policies and systems. HR departments are responsible for overseeing employee-benefits design, employee recruitment, training and development, performance appraisal, and reward management, such as managing pay and Employee benefits benefit systems. HR also concerns itself with organizational change and industrial relations, or the balancing of organizational practices with requirements arising from collective bargaining and governmental laws.

The overall purpose of human resources (HR) is to ensure that the organization is able to achieve success through people. HR professionals manage the human capital of an organization and focus on implementing policies and processes. They can specialize in finding, recruiting, training, and developing employees, as well as maintaining employee relations or benefits. Training and development professionals ensure that employees are trained and have continuous development. This is done through training programs, performance evaluations, and reward programs. Employee relations deals with the concerns of employees when policies are broken, such as cases involving harassment or discrimination. Managing employee benefits includes developing compensation structures, parental leave programs, discounts, and other benefits for employees. On the other side of the field are HR generalists or business partners. These HR professionals could work in all areas or be labour relations representatives working with unionized employees.

[title text=”Human Resource Management” link_text=”See more from basic to advanced” link=”/category/corporate-management/human-resource-management/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”4000″ cat=”176″ posts=”3″ offset=”63″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”176″ posts=”3″ offset=”60″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”176″ posts=”3″ offset=”54″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”176″ posts=”6″ offset=”48″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”176″ posts=”6″ offset=”42″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”176″ posts=”6″ offset=”36″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”176″ posts=”6″ offset=”30″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[title text=”Organizational Culture” link_text=”See more from basic to advanced” link=”/category/corporate-management/organisational-culture/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”186″ posts=”3″ offset=”83″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”186″ posts=”3″ offset=”80″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”186″ posts=”3″ offset=”77″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”186″ posts=”6″ offset=”71″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”186″ posts=”6″ offset=”65″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”186″ posts=”6″ offset=”59″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”186″ posts=”6″ offset=”53″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more HRM” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”/category/corporate-management/human-resource-management”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more culture” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/organisational-culture/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Organizational Culture: Definition, Importance, and Development

What is organizational culture?

Organizational culture is the collection of values, expectations, and practices that guide and inform the actions of all team members. Think of it as the collection of traits that make your company what it is. A great culture exemplifies positive traits that lead to improved performance, while a dysfunctional company culture brings out qualities that can hinder even the most successful organizations.

Don’t confuse culture with organizational goals or a mission statement, although both can help define it. Culture is created through consistent and authentic behaviors, not press releases or policy documents. You can watch company culture in action when you see how a CEO responds to a crisis, how a team adapts to new customer demands, or how a manager corrects an employee who makes a mistake.

The importance of culture to your company

Organizational culture affects all aspects of your business, from punctuality and tone to contract terms and employee benefits. When workplace culture aligns with your employees, they’re more likely to feel more comfortable, supported, and valued. Companies that prioritize culture can also weather difficult times and changes in the business environment and come out stronger.

Culture is a key advantage when it comes to attracting talent and outperforming the competition. 77 percent of workers consider a company’s culture before applying, and almost half of employees would leave their current job for a lower-paying opportunity at an organization with a better culture. The culture of an organization is also one of the top indicators of employee satisfaction and one of the main reasons that almost two-thirds (65%) of employees stay in their job.

Consider Microsoft and Salesforce. Both technology-based companies are world-class performers and admired brands, and both owe this in part to prioritizing culture. Microsoft, known for its cut-throat competitiveness under Steve Balmer, has been positively transformed by Satya Nadella, who took over as CEO of the company in 2014. He embarked on a program to refine the company culture, a process that upended competitiveness in favor of continuous learning. Instead of proving themselves, employees were encouraged to improve themselves. Today Microsoft’s market cap flirts with $1 trillion and it is again competing with Apple and Amazon as one of the most valuable companies in the world.

Salesforce puts corporate culture front and center and has experienced incredible growth throughout its history. Marc Benioff, Salesforce’s founder and CEO, established philanthropic cultural norms that have guided the company over the past two decades. All new Salesforce employees spend part of their first day volunteering and receive 56 hours of paid time to volunteer a year. This focus on meaning and mission has made Salesforce one of the best places to work in America according to Fortune, and it hasn’t compromised profits either: Salesforce’s stock price has surged year after year at an average of over 26% annually to date.

[title text=”Organizational Culture” link_text=”See more from basic to advanced” link=”/category/corporate-management/organisational-culture/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”186″ posts=”3″ offset=”83″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”186″ posts=”3″ offset=”80″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”186″ posts=”3″ offset=”77″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”186″ posts=”6″ offset=”71″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”186″ posts=”6″ offset=”65″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”186″ posts=”6″ offset=”59″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”186″ posts=”6″ offset=”53″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more HRM” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”/category/corporate-management/human-resource-management”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more culture” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/organisational-culture/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Corporate Marketing Management

Corporate Marketing refers to activities a company undertakes to promote the buying or selling of a product, service, or good. It is one of the primary components of business management and commerce. Marketers can direct their product to other businesses (B2B marketing) or directly to consumers (B2C marketing). Regardless of who is being marketed to, several factors apply, including the perspective the marketers will use. Known as market orientations, they determine how marketers will approach the planning stage of marketing.

The ‘marketing concept’ proposes that to complete its organizational objectives, an organization should anticipate the needs and wants of potential consumers and satisfy them more effectively than its competitors. This concept originated from Adam Smith’s book The Wealth of Nations but would not become widely used until nearly 200 years later. Marketing and Marketing Concepts are directly related. The term of Corporate Marketing, what is commonly known as attracting customers, incorporates knowledge gained by studying the management of exchange relationships and is the business process of identifying, anticipating and satisfying customers’ needs and wants.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/marketing/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”167″ posts=”3″ offset=”159″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”167″ posts=”3″ offset=”156″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”167″ posts=”3″ offset=”153″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”167″ posts=”6″ offset=”147″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”167″ posts=”6″ offset=”141″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”167″ posts=”6″ offset=”135″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”167″ posts=”6″ offset=”129″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”167″ posts=”6″ offset=”123″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”167″ posts=”6″ offset=”117″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”167″ posts=”6″ offset=”111″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”167″ posts=”6″ offset=”105″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/marketing/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Sales Management: Meaning, Objectives, Functions, Scope, Process, Determinants, Tools and Other Details

Sales management is a business discipline which is focused on the practical application of sales techniques and the management of a firm’s sales operations. It is an important business function as net sales through the sale of products and services and resulting profit drive most commercial business. These are also typically the goals and performance indicators of sales management. Sales manager is the typical title of someone whose role is sales management. The role typically involves talent development.

Sales management refers to the administration of the personal selling a company’s product line(s). It includes the planning, implementation, and control of sales programs, as well as recruiting, training, motivating, and evaluating members of the sales force. In a small business, these various functions may be performed by the owner or by the sales manager. The fundamental role of the sales manager is to develop and administer a selling program that effectively contributes to the organization’s goals. The sales manager for a small business would likely decide how many salespeople to employ, how best to select and train them, what sort of compensation and incentives to use to motivate them, what type of presentation they should make, and how the sales function should be structured for maximum contact with customers.

Sales management is just one facet of a company’s overall marketing mix, which encompasses strategies related to the “four Ps”: products, pricing, promotion, and place (distribution). Objectives related to promotion are achieved through three supporting functions: 1) advertising, which includes direct mail, radio, television, and print advertisements, among other media; 2) sales promotion, which includes tools such as coupons, rebates, contests, and samples; and (3) personal selling, which is the domain of the sales manager.

Although the role of sales managers is multidisciplinary in scope, their primary responsibilities are: 1) setting goals for a sales force; 2) planning, budgeting, and organizing a program to achieve those goals; 3) implementing the program; and 4) controlling and evaluating the results. Even when a sales force is already in place, the sales manager will likely view these responsibilities as an ongoing process necessary to adapt to both internal and external changes.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/sales-management/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”172″ posts=”3″ offset=”174″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”172″ posts=”3″ offset=”171″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”172″ posts=”3″ offset=”168″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”172″ posts=”3″ offset=”165″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”172″ posts=”6″ offset=”159″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”172″ posts=”6″ offset=”153″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”172″ posts=”6″ offset=”147″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”172″ posts=”6″ offset=”141″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”172″ posts=”6″ offset=”135″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”172″ posts=”6″ offset=”129″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”172″ posts=”6″ offset=”123″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”172″ posts=”6″ offset=”117″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/sales-management/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Retail Management: Definition, Processes, Best Practices

Retail Management is the process which helps the customers to procure the desired merchandise form the retail stores for their personal use. It includes all the steps required to bring the customers into the store and fulfill their buying needs. Such management saves time and ensures the customers easily locate their desired merchandise and return home satisfied.

As with any business, the goal is profitable growth. What makes retail management unique are the blurred lines between customers, suppliers, products, and the business itself. Let’s take a closer look at how a strategic approach to retail management can benefit both your company and your customers. Such management involves taking control of a number of internal processes, such as: Inventory management, Offline and online storefronts, Warehouse operations, Payments and accounting, Human resources.

Sales management is just one facet of a company’s overall marketing mix, which encompasses strategies related to the “four or seven Ps”. Objectives related to promotion are achieved through three supporting functions: 1) advertising, which includes direct mail, radio, television, and print advertisements, among other media; 2) sales promotion, which includes tools such as coupons, rebates, contests, and samples; and (3) personal selling, which is the domain of the sales manager.

Although the role of sales managers is multidisciplinary in scope, their primary responsibilities are: 1) setting goals for a sales force; 2) planning, budgeting, and organizing a program to achieve those goals; 3) implementing the program; and 4) controlling and evaluating the results. Even when a sales force is already in place, the sales manager will likely view these responsibilities as an ongoing process necessary to adapt to both internal and external changes.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/retail-management/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”173″ posts=”3″ offset=”115″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”173″ posts=”3″ offset=”112″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”173″ posts=”6″ offset=”106″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”173″ posts=”6″ offset=”100″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”173″ posts=”6″ offset=”94″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”173″ posts=”6″ offset=”88″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”173″ posts=”6″ offset=”82″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”173″ posts=”6″ offset=”76″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”173″ posts=”6″ offset=”70″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/retail-management/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Quality Management – Understanding how does it improve firm performance

Quality management is a recent phenomenon but important for an organization. Civilizations that supported the arts and crafts allowed clients to choose goods meeting higher quality standards rather than normal goods. In societies where arts and crafts are the responsibility of master craftsmen or artists, these masters would lead their studios and train and supervise others. The importance of craftsmen diminished as mass production and repetitive work practices were instituted. The aim was to produce large numbers of the same goods. The first proponent in the US for this approach was Eli Whitney who proposed (interchangeable) parts manufacture for muskets, hence producing the identical components and creating a musket assembly line. The next step forward was promoted by several people including Frederick Winslow Taylor, a mechanical engineer who sought to improve industrial efficiency. He is sometimes called “the father of scientific management.” He was one of the intellectual leaders of the Efficiency Movement and part of his approach laid a further foundation for quality management, including aspects like standardization and adopting improved practices. Henry Ford was also important in bringing process and quality management practices into operation in his assembly lines. In Germany, Karl Benz, often called the inventor of the motor car, was pursuing similar assembly and production practices, although real mass production was properly initiated in Volkswagen after World War II. From this period onwards, North American companies focused predominantly upon production against lower cost with increased efficiency.

Quality management ensures that an organization, product or service is consistent. It has four main components: quality planning, quality assurance, quality control and quality improvement. Quality management is focused not only on product and service quality, but also on the means to achieve it. Quality management, therefore, uses quality assurance and control of processes as well as products to achieve more consistent quality. What a customer wants and is willing to pay for it determines quality. It is a written or unwritten commitment to a known or unknown consumer in the market. Thus, quality can be defined as fitness for intended use or, in other words, how well the product performs its intended function.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/quality-management/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”204″ posts=”3″ offset=”144″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”204″ posts=”3″ offset=”141″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”204″ posts=”6″ offset=”135″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”204″ posts=”6″ offset=”129″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”204″ posts=”6″ offset=”123″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”204″ posts=”6″ offset=”117″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”204″ posts=”6″ offset=”111″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”204″ posts=”6″ offset=”105″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”204″ posts=”6″ offset=”99″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”204″ posts=”6″ offset=”93″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/quality-management/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Production Management: Definition, Function and Scope

Production Management, also called operations management, refers to the application of management principles to the production function in a factory. In other words, it involves application of planning, organizing, directing and controlling the production process. Its techniques are employed in service as well as in manufacturing industries. It is a responsibility similar in level and scope to other specialties such as marketing or human resource and financial management. In manufacturing operations, production management includes responsibility for product and process design, planning and control issues involving capacity and quality, and organization and supervision of the workforce.

In modern times, production management has to perform a variety of functions, namely: (i) Design and development of production process; (ii) Production planning and control; (iii) Implementation of the plan and related activities to produce the desired output; (iv) Administration and co-ordination of the activities of various components and departments responsible for producing the necessary goods and services.

The scope of production management is indeed vast. Commencing with the selection of location, it covers such activities as acquisition of land, constructing building, procuring and installing machinery, purchasing and storing raw materials and converting them into saleable products. Added to the above are other related topics such as quality management, maintenance management, production planning and control, methods improvement and work simplification and other related areas.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/production-management/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”177″ posts=”3″ offset=”76″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”177″ posts=”3″ offset=”73″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”177″ posts=”6″ offset=”67″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”177″ posts=”6″ offset=”61″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”177″ posts=”6″ offset=”55″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”177″ posts=”6″ offset=”49″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”177″ posts=”6″ offset=”43″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”177″ posts=”6″ offset=”37″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”177″ posts=”6″ offset=”31″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]
[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/production-management/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

International Business – Meaning, Process, Types & Factors

International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale. It involves cross-border transactions of goods and services between two or more countries. Transactions of economic resources include capital, skills, and people for the purpose of the international production of physical goods and services such as finance, banking, insurance, and construction. International business is also known as globalization.

International business is also defined as the study of the internationalization process of multinational enterprises. A multinational enterprise (MNE) is a company that has a worldwide approach to markets, production and/or operations in several countries. Well-known MNEs include fast-food companies such as: McDonald’s (MCD), YUM (YUM), Starbucks Coffee Company (SBUX), Microsoft (MSFT), etc. Other industrial MNEs leaders include vehicle manufacturers such as: Ford Motor Company, and General Motors (GMC). Some consumer electronics producers such as Samsung, LG and Sony, and energy companies such as Exxon Mobil, and British Petroleum (BP) are also multinational enterprises.

To conduct business overseas, multinational companies need to bridge separate national markets into one global marketplace. There are two macro-scale factors that underline the trend of greater globalization. The first consists of eliminating barriers to make cross-border trade easier (e.g. free flow of goods and services, and capital, referred to as “free trade”). The second is technological change, particularly developments in communication, information processing, and transportation technologies.

[title text=”International business management” link_text=”See more from basic to advanced” link=”/category/corporate-management/international-business/”]
[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”181″ posts=”3″ offset=”66″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”181″ posts=”3″ offset=”63″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”181″ posts=”6″ offset=”57″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”181″ posts=”6″ offset=”51″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”181″ posts=”6″ offset=”45″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”181″ posts=”6″ offset=”39″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[title text=”Import –  Export business” link_text=”See more from basic to advanced” link=”/category/corporate-management/import-export/”]
[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”188″ posts=”3″ offset=”148″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”188″ posts=”6″ offset=”142″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”188″ posts=”6″ offset=”136″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”188″ posts=”6″ offset=”130″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”188″ posts=”6″ offset=”124″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See international business” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”/category/corporate-management/international-business/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more Import –  Export” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/import-export/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

How to Start an Import-Export Business

Import export businesses can be very profitable in the long run. And the good news is that it doesn’t take much to get started in this direction. If you are wondering about how to start an import export business from home, this article should answer your most important questions. Even if the process itself is not a complicated one, it can be a challenging one if you don’t know how to create it most beneficially.

Getting into import export business, you can make a significant profit with low investment. And everything can be made from the comfort of your home! You can discover new export business opportunities every day and use them to improve your company. You also have the freedom to make your working schedule. But you have to consider that your working hours will depend a lot on your partners’ hours. And if you are trading internationally, you might need to adjust to different timeframes to maintain good communication with your importers and exporters. The good news is that if you develop such a business from home, you can also take time off whenever it is needed. Another advantage of developing such a business is that you will work with people from different parts of the world. It will make your activity a lot more interesting and less dull than any other domain.

Many importers and exporters started by creating their import export business from home and evolved to be successful business owners. Some of them even became investors in important countries such as those in Africa and developed or supported an entire industry! But to get to this level, you have to master the import export process, and you can gain the experience you need by working from the comfort of your house!

[title text=”Main contents” link_text=”See more” link=”/category/corporate-management/import-export/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”188″ posts=”3″ offset=”147″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”188″ posts=”3″ offset=”144″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”188″ posts=”6″ offset=”138″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”188″ posts=”6″ offset=”132″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”188″ posts=”6″ offset=”126″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”188″ posts=”6″ offset=”120″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”188″ posts=”6″ offset=”114″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”188″ posts=”6″ offset=”108″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”188″ posts=”6″ offset=”102″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”188″ posts=”6″ offset=”96″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more Import-Export” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/category/corporate-management/import-export/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more Incoterm” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/import-export/incoterms/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

E-commerce Business: How to Build, Launch, and Grow a Profitable Online Store

E-commerce (also known as electronic commerce) Business is the process of buying and selling of products or services, making money transfers, and transferring data over an electronic medium (Internet). This network allows people to do business without the constraint of distance and time.

There are various types of online business options that you can choose from based on your preferences, capital, and online business model. For different businesses, you have to implement various techniques and strategies. Some of the favorite online companies include: B2B businesses, B2C businesses, Affiliate marketing business, Google Adwords marketing, Online auction selling.

Online business works pretty much on the same principles as an offline/retail store does. On a broader scale, the whole eCommerce process can be broken down into three main components or work processes: Receiving Orders, Processing Order Information and Shipping.

The main advantage of an eCommerce business is that it allows you to conduct your business flexible and at the same time is very useful in reaching a full range of target audience within seconds. Nowadays, internet home business has also become a prevalent means of earning money in the form of eCommerce. Another significant benefit of an eCommerce business is that it helps you to identify the target audience very quickly and reach them easily too. For example, if you are trying to sell some goods or products, you can easily make market research from the internet and identify your niche market. Accordingly, you can send emails or promotional brochures to prospective customers who will be interested in your product or service. Compared to conventional promotional methods, this is pretty cost-effective as you do not have to approach the customers on an individual basis.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/e-commerce/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”180″ posts=”3″ offset=”93″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”180″ posts=”3″ offset=”90″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”180″ posts=”6″ offset=”84″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”180″ posts=”6″ offset=”78″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”180″ posts=”6″ offset=”72″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”180″ posts=”6″ offset=”66″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”180″ posts=”6″ offset=”60″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”180″ posts=”6″ offset=”54″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/e-commerce/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Enterprise Project Management: meaning, benefits, process and best practices

Traditional project management is the process of leading the work of a team to achieve goals and meet success criteria at a specified time. Enterprise project management puts the focus on the enterprise, prioritizing and highlighting its business goals and managing and grouping projects to ensure they meet those broader organizational objectives. The end objective is not necessarily a successfully completed project. It is a project that effectively provides value to the organization.

The primary challenge of enterprise project management is to achieve all of the project goals within the given constraints. This information is usually described in project documentation, created at the beginning of the development process. The primary constraints are scope, time, budget. The secondary challenge is to optimize the allocation of necessary inputs and apply them to meet pre-defined objectives.

The additional benefits of enterprise project management include: Higher-quality output, Improved productivity, Reduced impact of skills shortage, Reduced project risks, Enhanced reliability of delivery.

Since enterprise project management focuses on the organization’s core mission and strategic objectives, implementation of an EPM system begins with a thorough look at the company’s existing projects and its organizational culture—after all, EPM will require adaptability and openness to change.

Including stakeholders is critical to the success of any EPM system, since the end goal is full transparency, wider participation, more project visibility and increased monitoring. A high level of communication is essential to bring everyone on board, including executives, and ensure goals and efforts are aligned.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/project-management/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”174″ posts=”3″ offset=”45″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”174″ posts=”3″ offset=”42″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”174″ posts=”3″ offset=”39″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”174″ posts=”3″ offset=”36″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”174″ posts=”3″ offset=”33″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”174″ posts=”6″ offset=”27″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”174″ posts=”6″ offset=”21″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”174″ posts=”6″ offset=”15″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”174″ posts=”6″ offset=”9″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/project-management/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Logistics Management: meaning, functions, importance, process and best practices

Logistics refers to the overall process of managing how resources are acquired, stored, and transported to their final destination. Logistics management involves identifying prospective distributors and suppliers and determining their effectiveness and accessibility. This is the process of strategically managing the procurement, movement and storage of materials, parts and finished inventory (and the related information flows) through the organization and its marketing channels in such as way that current and future profitability are maximized through the cost-effective fulfillment of orders.

In simple terms, the goal of logistics management is to have the right amount of a resource or input at the right time, getting it to the appropriate location in proper condition, and delivering it to the correct internal or external customer. Logistics managers are referred to as logisticians. Logistic resources, such as tanks, pipelines, and ships, have the main objective of making products, equipment, and raw material flow easier throughout processes to maximize profits. Logistics activities typically include inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory control, supply/demand planning and management of third-party logistics services providers.

To varying degrees, logistics functions include customer service, sourcing and procurement, production planning and scheduling, packaging, and assembly. Logistics management is part of all the levels of planning and execution, including strategic, operational and tactical. Further, it coordinates all the logistics activities, and it integrates logistics activities with other functions, including marketing, sales, manufacturing, finance and information technology.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/logistics/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”171″ posts=”3″ offset=”156″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”171″ posts=”3″ offset=”153″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”171″ posts=”3″ offset=”150″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”171″ posts=”6″ offset=”144″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”171″ posts=”6″ offset=”138″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”171″ posts=”6″ offset=”132″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”171″ posts=”6″ offset=”126″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”171″ posts=”6″ offset=”120″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”171″ posts=”6″ offset=”114″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”171″ posts=”6″ offset=”108″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”171″ posts=”6″ offset=”102″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/logistics/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Supply Chain and Supply Chain Management

A supply chain is a network between a company and its suppliers to produce and distribute a specific product to the final buyer. This network includes different activities, people, entities, information, and resources. The chain also represents a series of steps involved to get a product or service to the customer. The steps include moving and transforming raw materials into finished products, transporting those products, and distributing them to the end-user. The entities involved include producers, vendors, warehouses, transportation companies, distribution centers, and retailers. Supply chain management (SCM) is a very important part of the business process because an optimized supply chain results in lower costs and a faster production cycle. There are many different links in this chain that require skill and expertise. When SCM is effective, it can lower a company’s overall costs and boost profitability. If one link breaks down, it can affect the rest of the chain and can be costly.

Supply chain management (SCM), the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods as well as end to end order fulfilment from point of origin to point of consumption. Interconnected, interrelated or interlinked networks, channels and node businesses combine in the provision of products and services required by end customers in a supply chain. Supply chain management has been defined as the “design, planning, execution, control, and monitoring of supply-chain activities with the objective of creating net value, building a competitive infrastructure, leveraging worldwide logistics, synchronizing supply with demand and measuring performance globally”. SCM practice draws heavily from the areas of industrial engineering, systems engineering, operations management, logistics, procurement, information technology, and marketing and strives for an integrated approach. Marketing channels play an important role in supply-chain management. Current research in supply-chain management is concerned with topics related to sustainability and risk management, among others. Some suggest that the “people dimension” of SCM, ethical issues, internal integration, transparency/visibility, and human capital/talent management are topics that have, so far, been underrepresented on the research agenda. Supply chain management (SCM) is the broad range of activities required to plan, control and execute a product’s flow from materials to production to distribution in the most economical way possible. SCM encompasses the integrated planning and execution of processes required to optimize the flow of materials, information and capital in functions that broadly include demand planning, sourcing, production, inventory management and logistics — or storage and transportation.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/economics-of-business-enterprise/supply-chain/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”185″ posts=”3″ offset=”131″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”185″ posts=”3″ offset=”128″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”185″ posts=”6″ offset=”122″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”4000″ cat=”185″ posts=”6″ offset=”116″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”185″ posts=”6″ offset=”110″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”185″ posts=”6″ offset=”104″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”185″ posts=”6″ offset=”98″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”185″ posts=”6″ offset=”92″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/economics-of-business-enterprise/supply-chain/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

KEY TAKEAWAYS

  • A SC is a network between a company and its suppliers to produce and distribute a specific product or service.
  • The entities include producers, vendors, warehouses, transportation companies, distribution centers, and retailers.
  • The functions in a SC include product development, marketing, operations, distribution, finance, and customer service.
  • Successful SCM results in lower costs and a faster production cycle; and ensures that there is no delay in delivery at any point in the chain and that products and services are delivered in good condition.
Posted on

Management Information System

Management Information System (MIS) is the study of people, technology, organizations, and the relationships among them. MIS professionals help firms realize maximum benefit from investment in personnel, equipment, and business processes. MIS is a people-oriented field with an emphasis on service through technology. If you have an interest in technology and have the desire to use technology to improve people’s lives, a degree in MIS may be for you.

MIS professionals create information systems for data management (i.e., storing, searching, and analyzing data). In addition, they manage various information systems to meet the needs of managers, staff and customers. By working collaboratively with various members of their work group, as well as with their customers and clients, MIS professionals are able to play a key role in areas such as information security, integration, and exchange. As an MIS major, you will learn to design, implement, and use business information systems in innovative ways to increase the effectiveness and efficiency of your company.

[title text=”Main content” link_text=”See more from basic to advanced” link=”/category/economics-of-business-enterprise/information-system/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”170″ posts=”3″ offset=”150″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”170″ posts=”3″ offset=”147″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”170″ posts=”6″ offset=”141″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”170″ posts=”6″ offset=”135″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”170″ posts=”6″ offset=”129″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”170″ posts=”6″ offset=”123″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”170″ posts=”6″ offset=”117″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”170″ posts=”6″ offset=”111″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”170″ posts=”6″ offset=”105″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”170″ posts=”6″ offset=”99″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/economics-of-business-enterprise/information-system/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

What is Corporate Finance? Fundamentals, Principles and Features

Corporate finance refers to activities and transactions related to raising capital for the creation, development and acquisition of a business. It is directly related to company decisions which have financial or monetary impacts. It can be considered as a liaison between the capital market and the organisation. The corporate finance definition also encompasses effective resource utilisation and expenditure minimisation. Factors that contribute to its decision include term requirements of the company, urgency, risk appetite, etc.

A business undertakes such decisions to achieve pre-set financial goals while ensuring maximisation of shareholder value. Apart from understanding what corporate finance is, understand what it covers.

[title text=”Corporate finance” link_text=”See more from basic to advanced” link=”/category/economics-of-business-enterprise/corporate-finance/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”179″ posts=”3″ offset=”159″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”179″ posts=”3″ offset=”156″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”179″ posts=”6″ offset=”150″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”179″ posts=”6″ offset=”144″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”179″ posts=”6″ offset=”138″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”179″ posts=”6″ offset=”132″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”9000″ cat=”179″ posts=”6″ offset=”126″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”179″ posts=”6″ offset=”120″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”179″ posts=”6″ offset=”114″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”179″ posts=”6″ offset=”108″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”179″ posts=”6″ offset=”102″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See more finance” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/economics-of-business-enterprise/corporate-finance/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Stock market: functioning and investments

The stock market refers to public markets that exist for issuing, buying, and selling stocks that trade on a stock exchange or over-the-counter. Stocks, also known as equities, represent fractional ownership in a company, and the stock market is a place where investors can make investments by buying and selling ownership of such investible assets. An efficiently functioning stock market is considered critical to economic development, as it gives companies the ability to quickly access capital from the public.

The stock market serves two very important purposes. The first is to provide capital to companies that they can use to fund and expand their businesses. If a company issues one million shares of stock that initially sell for $10 a share, then that provides the company with $10 million of capital that it can use to grow its business (minus whatever fees the company pays for an investment bank to manage the stock offering). By offering stock shares instead of borrowing the capital needed for expansion, the company avoids incurring debt and paying interest charges on that debt.

The secondary purpose the stock market serves is to give investors – those who purchase stocks or make investments – the opportunity to share in the profits of publicly-traded companies. Investors can profit from stock buying in one of two ways. Some stocks pay regular dividends (a given amount of money per share of stock someone owns). The other way investors can profit from buying stocks is by selling their stock for a profit if the stock price increases from their purchase price. For example, if an investor make investment on stock market by buying shares of a company’s stock at $10 a share and the price of the stock subsequently rises to $15 a share, the investor can then realize a 50% profit on their investment by selling their shares.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/economics-of-business-enterprise/stock-market/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”169″ posts=”3″ offset=”150″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”169″ posts=”3″ offset=”147″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”169″ posts=”3″ offset=”144″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”169″ posts=”6″ offset=”138″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”169″ posts=”6″ offset=”132″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”169″ posts=”6″ offset=”126″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”169″ posts=”6″ offset=”120″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”169″ posts=”6″ offset=”114″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”169″ posts=”6″ offset=”108″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”169″ posts=”6″ offset=”102″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”169″ posts=”6″ offset=”96″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/economics-of-business-enterprise/stock-market/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Posted on

Corporate accounting: definition, functions and branches

Definition and principles of corporate accounting

Corporate accounting is a process, which systematically and comprehensively records business events and transactions, and translate it into the financial information of the business entity to assist  the stakeholders in the decision-making process.

In this process, the transactions are identified, recorded, arranged, summarized, simplified properly and then communicated to the interested parties.

Generally Accepted Accounting Principles (GAAP) provide the rules for the preparation of the accounting statements, in the form of concepts, conventions, assumptions and principles. It not only removes confusion but also provide consistency and uniformity in the process. These are the fundamental assumptions, on which the entire system of accounting is based.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/economics-of-business-enterprise/accounting/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ ids=”11109,11196,11113″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”163″ posts=”3″ offset=”98″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”163″ posts=”3″ offset=”95″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”163″ posts=”3″ offset=”92″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”163″ posts=”6″ offset=”86″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”163″ posts=”6″ offset=”80″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”163″ posts=”6″ offset=”74″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”163″ posts=”6″ offset=”68″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/economics-of-business-enterprise/accounting/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]

Branches of Accounting

  1. Financial Accounting: It is that branch of accounting, which involves the recording of the transactions, inclined towards the preparation of trial balance and final accounts.
  2. Cost Accounting: Cost account is the accounting discipline, which deals with costs, i.e. the unit costs of the goods produced and services provided. It helps the management of the organization in fixing the price, controlling costs and providing relevant information for the purpose of decision making.
  3. Management Accounting: The accounting system which supplies the necessary information to the management, for rational decision making. The information may be concerned with funds, costs, profits and losses and so forth. This information is helpful in determining the effect of the decisions and analysing the performance of the entity.
  4. Tax Accounting: The accounting system that deals with the tax return and its payment, instead of preparation of final accounts of the enterprise, is called tax accounting.
  5. Social Accounting: This branch of accounting is commonly termed as social responsibility accounting. It aims at unveiling the facilities provided by the entity to the society, in terms of medical, housing, education, and so forth.

These accounting branches have been developed as a result of rapid economic development and technological improvements, that increased the company’s scale of operations. Due to this very reason, the management functions has become complicated and resulted in the development of branches.

Functions of corporate accounting

  • Systematic record keeping: The first and foremost function of accounting is the systematic record keeping of the financial transactions, on a regular basis.
  • Facilitating rational decision making: Another important function of accounting is to communicate the results, i.e. the net profit or loss to the users, with the help of financial statements, so as to help the interested parties in rational decision making.
  • Legal compliance: The accounting statements must be prepared keeping in mind the compliance with the relevant laws.
  • Protection of business assets: Accounting not only keeps a record of all the business assets but also ensures no unauthorized use of assets or property belonging to the enterprise.
  • Determination of Profit/loss: Accounting plays a very important role in the ascertainment of profit earned or loss sustained by the enterprise in an accounting period. This is possible only when a proper record of all the business transactions, revenues and expenses are maintained.
  • Ascertaining the profitability, liquidity and solvency of the entity: With the help of the financial statement, i.e. Balance sheet and profit and loss account, the financial position of the enterprise can easily be ascertained.

The fundamental objective of accounting is to keep complete records of the business transactions, so as to determine the financial performance and position of the enterprise and convey the information to the user groups such as shareholders, employees, creditors, suppliers, government and other groups.

Posted on

Office Management: definition, types, process, jobs and best practices

Office management is a profession involving the design, implementation, evaluation, and maintenance of the process of work within an office or other organization, in order to sustain and improve efficiency and productivity. It is thus a part of the overall administration of business and since the elements of management are forecasting and planning, organising, command, control and coordination, the office is a part of the total management function.

Office management is the technique of planning, organizing, coordinating and controlling office activities with a view to achieve business objectives and is concerned with efficient and effective performance of the office work. The success of a business depends upon the efficiency of its office. The volume of paper work in offices has increased manifold in these days due to industrialization, population explosion, government control and application of various tax and labour laws to any business enterprise. Efficiency and effectiveness which are key words in management are achieved only through proper planning and control of activities, reduction of office costs and coordination of all activities of business.

“Office management is manipulation and control of men, methods, machine and material to achieve the best possible results-results of highest possible quality with the expenditure of least possible effect and expense, in the shortest practicable time, and in a manner acceptable to the top management.”— Harry H. Wylie. This definition stresses the utilization of resources of business like material, methods etc. to achieve the objectives and results in a best and cheapest way and in a minimum possible time.

“Office management is the art of guiding the personnel of the office in the use of means appropriate to its environment in order to achieve its specified purpose.”— Mills and Standinhford. According to this definition, a proper understanding of the objective purpose is necessary so that all efforts and activities are directed in its achievement Environment where office work is to be performed is provided by management after proper planning. Environment means surroundings where employees of an enterprise operate. It includes physical factors like location, layout, lighting temperature, ventilation, cleanliness etc. Various business laws, customs practices etc. must also be made known to employees.

There are a variety of office management jobs, however, the basic duties of these managers are quite similar. Besides supervising the smooth running of a company’s administration, making sure that needed supplies are provided and that office equipment is in working order, office managers can sometimes hire, fire, train, and promote employees.

[title text=”Main contents” link_text=”See more from basic to advanced” link=”/category/corporate-management/office-management/”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”4000″ cat=”178″ posts=”3″ offset=”19″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”5000″ cat=”178″ posts=”3″ offset=”16″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”6000″ cat=”178″ posts=”3″ offset=”13″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”7000″ cat=”178″ posts=”3″ offset=”10″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[blog_posts style=”normal” col_spacing=”xsmall” columns=”3″ columns__md=”1″ depth_hover=”2″ auto_slide=”8000″ cat=”178″ posts=”6″ offset=”4″ show_date=”false” excerpt_length=”25″ comments=”false” image_height=”60%” image_size=”original” image_hover=”zoom” text_align=”left”]

[row style=”small” class=”form-lien-he”]

[col span=”2″ span__sm=”12″]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”Home” color=”secondary” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-star” icon_pos=”left” link=”https://phantran.net/”]

[/col]
[col span=”4″ span__sm=”12″]

[button text=”See basic to advanced” style=”gloss” radius=”5″ depth=”2″ depth_hover=”3″ expand=”true” icon=”icon-checkmark” icon_pos=”left” link=”/category/corporate-management/office-management/”]

[/col]
[col span=”2″ span__sm=”12″]

[/col]

[/row]