Month: September 2012

  • Steps in Planning Function

    Planning function of management involves following steps:- 1. Establishment of objectives ü  Planning requires a systematic approach. ü  Planning starts with the setting of goals and objectives to be achieved. ü  Objectives provide a rationale for undertaking various activities as well as indicate direction of efforts. ü  Moreover objectives focus the attention of managers on…

  • 3C Model of Ohmae

    Kenichi Ohmae (born February 21, 1943) is one of the world’s leading business and corporate strategists. He is known as Mr. Strategy and has developed the 3C’s Model. In 1994, The Economist selected him one of five management gurus in the world. As an author he has published over 100 books, many of which are…

  • Human Resource Management

    The terms ‘Human Resource (HR)’ and ‘Human Resource Management (HRM)’ have replaced the term ‘Personnel Management’. As human resources have become viewed as more critical to organizational success, many organizations have realized that it is the people in an organization that can provide a competitive advantage. Human Resource (HR) management deals with the design of…

  • Role of Research in Important Areas

    Through research, an executive can quickly get a synopsis of the current scenario which improves his information base for making sound decisions affecting future operations of the enterprise. The following are the major areas in which research plays a key role in making effective decisions.   Marketing Marketing research has become very crucial in taking…

  • Unique Selling Proposition

    For years, business trainers have stressed the importance of “USPs” (Unique Selling Propositions). Your USP is the unique thing that you can offer that your competitors can’t. It’s your “Competitive Edge”. It’s the reason that customers buy from you and you alone. Definition: The factor or consideration presented by a seller as the reason that…

  • Business Incubation Program

    Business incubation is a business support process that accelerates the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services. These services are usually developed or orchestrated by incubator management and offered both in the business incubator and through its network of contacts. A business incubator’s main…

  • What is Planning?

    Of the five management functions — planning, organizing, staffing, leading and controlling — planning is the most fundamental. All other functions stem from planning. However, planning doesn’t always get the attention that it deserves; when it does, many managers discover that the planning process isn’t as easy as they thought it would be — or…

  • The Societal Marketing Concept

    The societal marketing concept was an offshoot of the marketing concept wherein an organization believes in giving back to the society by producing better products targeted towards society welfare. Some have questioned whether the marketing concept is an appropriate philosophy in an age of environmental deterioration, resource shortages, explosive population growth, world hunger and poverty,…

  • Charms of Being an Entrepreneur

    The most exciting part of Entrepreneurship is that you are your own master. When you are an employee, you work for others according to their plans, whims and finances. In an Entrepreneurship, it is you who set the goal, plan the action and reap the satisfaction and rewards of having achieved the goal. Why should…

  • SWOT Analysis

    A SWOT analysis summarizes key external issues from the business environment and the internal strategic capabilities of an organization. The SWOT analysis can therefore be used for strategy development, and be used as a basis for generating strategic options. Likewise, a SWOT analysis can be used to asses future courses of strategic actions It is…