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

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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

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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

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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

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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

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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

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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

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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

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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

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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,

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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