Agency Theory is the framework that explains the relationship between business principal and their agents. and Agency Problem is a specific issue that can arise within that framework. What is the Agency Theory? Agency Theory is a framework that explains the relationship between business principals … [Continue reading] about Agency Theory & Agency Problem Explained
Board Diversity: Diversifying the board for better governance
A diverse board can promote transparency, ethical behavior, and responsible decision-making. Board diversity has become one of the most significant governance issues recently facing managers, directors and shareholders in modern … [Continue reading] about Board Diversity: Diversifying the board for better governance
Understanding Psychic Distance in Internationalization
Psychic Distance is an often discussed theme in internationalization of firms. Psychic Distance refers to the differences in the business environment between the nation of origin (of a firm) and the foreign market. This is considered a one of the … [Continue reading] about Understanding Psychic Distance in Internationalization
The Born global model of Internationalization
Some newer firms are not gradually approaching global markets but they are jumping directly into global markets. Such firms are termed 'Born Globals'. The Born Global Model is a business strategy in which a company engages in international business … [Continue reading] about The Born global model of Internationalization
The Uppsala Internationalization Model
The Uppsala model of Foreign Direct Investment (FDI) is a theory that explains the internationalization process of firms. The model argues that firms invest in countries which are similar to their home countries. During the 1970’s a number of … [Continue reading] about The Uppsala Internationalization Model
Dunning’s Eclectic Paradigm (OLI Framework) Explained
The electric paradigm (OLI) remains the most dominant theory to explain the activities of Multinational Enterprises (MNEs). Developed by Dunning, the OLI model explains that the choice of market selection depends on three economic advantages known as … [Continue reading] about Dunning’s Eclectic Paradigm (OLI Framework) Explained
Understanding Brand Identity and its elements
Learn about brand identity and strategies for building a strong brand identity. What is Brand Identity? Similar to how individuals have personalities which make them unique, brands also have identities which give them distinct characteristics. "A … [Continue reading] about Understanding Brand Identity and its elements
Aaker’s Brand Identity Planning Model
The Aaker model is a comprehensive guide on how to build brand identity. The model provides several ideas and paths for developing a brand identity and provides more charity to firms on what they should emphasize. Purpose of Aaker Model Compared to … [Continue reading] about Aaker’s Brand Identity Planning Model
Risk Diversification Theory of FDI
Risk diversification theory of FDI suggests that firms undertake FDI activities to diversify the risks by operating in multiple markets. The risks of foreign investments are known as transportation costs, trade barriers (tariffs and quotas), … [Continue reading] about Risk Diversification Theory of FDI
Brand Extension Strategy Explained: Types and Examples
Learn about the concept of brand extension, including line and category extensions. Understand the advantages and disadvantages of brand extension, and the factors that contribute to successful brand extension. Brand Extensions What is Brand … [Continue reading] about Brand Extension Strategy Explained: Types and Examples
What is Brand Equity?
Brand Equity is generally defined in terms of marketing effects uniquely attributable to a brand. Brand equity represents the total value that accrues to a product as a result of a company's cumulative investments in the marketing of the … [Continue reading] about What is Brand Equity?
Brand and Brand Elements
Learn about brand, its elements, and its advantages. Businesses that invest in and sustain leading brands prosper whereas those that fail are left to fight for the lower profits available in commodity markets. Strong brands are able to establish a … [Continue reading] about Brand and Brand Elements
Customer Loyalty Ladder: Importance, Strategies for Building Loyalty
The customer loyalty ladder is a hierarchical model that enables businesses to classify customers based on their relationship and level of engagement with the business. It is a valuable tool to understand and nurture customer relationships that helps … [Continue reading] about Customer Loyalty Ladder: Importance, Strategies for Building Loyalty
SERVQUAL Model of Service Quality Explained
SERVQUAL is a widely used framework for assessing and measuring service quality in various industries and settings. SERVQUAL is based on the premise that customers' perceptions of service quality are shaped by their expectations and the actual … [Continue reading] about SERVQUAL Model of Service Quality Explained
Customer Profitability Analysis: CLV and other metrics explained
Not all customers are alike; they differ in their real profitability. Marketing is the art of attracting and keeping profitable customers. It involves making use of the 80– 20 rule, and in extreme cases see the most profitable 20 percent of … [Continue reading] about Customer Profitability Analysis: CLV and other metrics explained
Customer Acquisition & Retention Strategies
Customer acquisition and Customer retention strategies focus on attracting new customers through targeted marketing and sales efforts, and then focus on fostering loyalty, providing excellent service, and implementing personalized initiatives to keep … [Continue reading] about Customer Acquisition & Retention Strategies
Data Management for CRM: CDI best practices and strategies
Data management for Customer Relationship Management (CRM) involves the organized collection, storage, and utilization of customer-related information. It ensures accurate and timely access to customer details, enabling businesses to make informed … [Continue reading] about Data Management for CRM: CDI best practices and strategies
eCRM: Benefits, Features, Components
eCRM (electronic way of customer relationship management) uses social media, forums, and other channels to track customer engagement with the business. For decades organizations did all the talking but Social Media allows two way dialogue and allows … [Continue reading] about eCRM: Benefits, Features, Components
What is Relationship Marketing? Definition, Benefits and Examples.
Relationship marketing is a connection between equal partners, characterized by trust, commitment, communication, and sharing, which results in the mutual achievement of goals. It is basically interaction in networks of relationships. Relationships … [Continue reading] about What is Relationship Marketing? Definition, Benefits and Examples.
Customer Value Chain
Francis Buttle's Customer Value Chain outlines the stages involved in creating customer value and building profitable customer relationships within the context of customer relationship management (CRM). Customer Value Chain provides a systematic … [Continue reading] about Customer Value Chain
Customer Value and Customer Perceived Value (CPV)
Customer value is the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers (Kotler et al. 2008). Image adapted from Kotler and Keller (2016). In traditional … [Continue reading] about Customer Value and Customer Perceived Value (CPV)
Success Factors for Customer Relationship Management (CRM)
Customer relationship management (CRM) is a strategy, used in combination with software system, to manage a firm's interactions with existing as well as potential customers. CRM systems consolidate customer data from various channels and analyses it … [Continue reading] about Success Factors for Customer Relationship Management (CRM)
Top Market Research reports and databases for data
Market Research reports, sources, and database (Mintel, MarketLine Advantage, PASSPORT) for consumer, country, industry, and financial data for every marketplace in the world. These are excellent resources to collect secondary data. Mintel Academic: … [Continue reading] about Top Market Research reports and databases for data
Supply Chain Management: Comprehensive Guide and Strategies
Learn the importance of effective Supply Chain Management (SCM) in today's business world. Know more about the various SCM concepts, strategies, tools, and techniques. What is Supply Chain? A supply chain is basically a network between a company and … [Continue reading] about Supply Chain Management: Comprehensive Guide and Strategies
Internal and External Sources of Finance: Building Blocks of Business Financing
Identify the key external and internal sources of finance, and learn to appraise the potential appropriateness of each of these sources of finance. The investment process involves obtaining funds, evaluating available investment opportunities and … [Continue reading] about Internal and External Sources of Finance: Building Blocks of Business Financing
Capital Investment Appraisal Methods
Understand the importance of capital investment planning and appraisal. Learn about the key investment appraisal techniques. Understand the importance of human behaviour issues in investment decision making. Businesses need to make investments and … [Continue reading] about Capital Investment Appraisal Methods
Budgeting 101: How Firms Control Their Finances
Understand the purpose of budgets, learn to interpret information provided in budgets, and learn to critique the benefits and shortcomings of budgets. Why is Budgeting Important So what is the purpose of budgets? We all budget in our personal life, … [Continue reading] about Budgeting 101: How Firms Control Their Finances
What’s Inside an Annual Report and Why Does It Matter?
Understand the annual report and its key components and why they are more just numbers. Here's your ultimate guide to company performance metrics. Learn to interpret and analyse the Income Statement and Statement of Financial Position. What is the … [Continue reading] about What’s Inside an Annual Report and Why Does It Matter?
Kapferer Brand Identity Prism Explained
The Kapferer Brand Identity Prism is a branding tool commonly used by businesses to create a strong brand identity that resonates with its customers and sets itself apart from competitors. It provides a framework for visualizing the various elements … [Continue reading] about Kapferer Brand Identity Prism Explained
Understanding Financial Ratios: Definitions and Examples
Understand more about financial ratios and what they inform about the business. Learn to calculate and analyse some key financial ratios and draw overall conclusions about a business based on these ratios. "A set of accounts is like a book, which … [Continue reading] about Understanding Financial Ratios: Definitions and Examples
Cost Accounting 101: Understanding the Basics
Cost accounting involves summarizing and analyzing all the costs associated with the business activities. This practice also makes it easy to understanding the various costs associated with the business and how those costs impact the business and its … [Continue reading] about Cost Accounting 101: Understanding the Basics
Understanding Marcom: Its objectives & tools used to achieve them
MarCom (short for Marketing Communication) is the use of various methods to promote products or services to the target audience. MarCom has various objective and marketers can make of use of various tools to help achieve those objectives. Marcom … [Continue reading] about Understanding Marcom: Its objectives & tools used to achieve them
Hierarchy of Effects Theory Explained
The Hierarchy of Effects Theory is a model in marketing and advertising that describes the sequence of stages a consumer goes through when making a purchase decision. These stages include awareness, knowledge, liking or interest, preference, … [Continue reading] about Hierarchy of Effects Theory Explained
Brand Positioning: Concepts
Brand positioning is about creating a suitable image for a brand in the minds of the target audience. As part of this process, the unique features of the brand are indetified and is communicated effectively to create a distict image of that brand to … [Continue reading] about Brand Positioning: Concepts
The Key Elements of Service Operations: A Comprehensive Guide
Service operations refer to the business and operational activities involved in actually delivering a product or service to a customer, including service design, service delivery, and service management. Learn more about the distinct concepts within … [Continue reading] about The Key Elements of Service Operations: A Comprehensive Guide
The Five Essential Performance Objectives of Operational Success
Performance objectives of operations are measurable goals that a company sets in order to ensure that its operational activities are carried out as efficiently and effectively as possible. Learn how organizations use strategic performance objectives … [Continue reading] about The Five Essential Performance Objectives of Operational Success
Understanding the Transformation Process in Operations Management
The transformation process refers to the series of activities that transform inputs into outputs and is a core concept in the study of operations management. This framework is commonly used in operations management to optimize the various processes … [Continue reading] about Understanding the Transformation Process in Operations Management
Principles of Management by Henri Fayol
French management theorist Henri Fayol developed the concept of the 14 Principles of Management that describe how managers should ideally organize work and manage employees in a business environment. Henri Fayol's Contribution to Management Henri … [Continue reading] about Principles of Management by Henri Fayol
Global Leadership in Modern Times: An Intersection of Culture, Politics, and Economics
Find insights on effective global leadership. Understand leadership within the context of global organizations and the interdependent world. Understand the traits and characteristics of a Global Leader that promote cross-cultural collaboration. Need … [Continue reading] about Global Leadership in Modern Times: An Intersection of Culture, Politics, and Economics
Blockbusters Case Study
A classic example of an organisation that failed to innovate and strategically adapt to both changes and pressures in the external environment (particularly technological changes) and its strategic positioning in a rapidly changing marketplace was … [Continue reading] about Blockbusters Case Study
Breaking Down the Generational Divide: Understanding X, Y, Z and Beyond
A Guide to the various Generations, from Boomers to Gen Z and beyond. Understand the various generations of people, their differences and similarities, their unique experiences and perspectives. Learn about the various strategies to communicate and … [Continue reading] about Breaking Down the Generational Divide: Understanding X, Y, Z and Beyond
Industry 4.0: A Comprehensive Guide to the Fourth Industrial Revolution
Industry 4.0 refers to adoption of cyber physical system like Internet of Things and Internet of system. 1st I.R- Used water and steam to mechanise production. 2nd I.R.- Used Electric Power to create mass production 3rd I.R- Used Electronics and … [Continue reading] about Industry 4.0: A Comprehensive Guide to the Fourth Industrial Revolution
Entrepreneurship Theories & Concepts: All About Creating a Winning Business
Entrepreneurship is the process of starting and running a new business with the goal of making a profit. It requires a combination of vision, creativity, perseverance, adaptability, business acumen, and willingness to taking risks. It typically … [Continue reading] about Entrepreneurship Theories & Concepts: All About Creating a Winning Business
Key Traits of Successful Entrepreneurs
Entrepreneurial traits and characteristics are the personal qualities and skills that successful entrepreneurs possess. Let's take a closer look at some of these traits. The description of the enterprising person is drawn from what is known about … [Continue reading] about Key Traits of Successful Entrepreneurs
What is Digital (Social Media) Marketing?
Digital marketing is marketing using digital channels, such as the internet, social media, email, mobile apps, and more. It enables businesses to reach out to potential customers through various electronic devices, including desktop computers and … [Continue reading] about What is Digital (Social Media) Marketing?
Global Marketing Gone Wrong: The Most Embarrassing International Marketing Fails
Global Marketing Gaffes: Here are some examples of how companies failed when localizing their business in different countries leading to embarassing results. Braniff International Airlines translated a slogan touting its finely upholstered seats … [Continue reading] about Global Marketing Gone Wrong: The Most Embarrassing International Marketing Fails
Finance and Accounting: Books, Journals and Resources
Best Finance and Accounting: Books, Journals and Resources. Best Finance and Accounting Books Here are the best books on Finance and Accounting that are aimed at undergraduate, graduate and MBA students studying finance and accounting … [Continue reading] about Finance and Accounting: Books, Journals and Resources
Global Retailing
Global Retailing is any retailing activity that crosses national boundaries. For centuries entrepreneurial merchants have ventured abroad to seek out merchandize and to establish retail operations. Today’s global retailing scene is characterized by … [Continue reading] about Global Retailing
Global Branding and Glocal Branding Strategies
Branding is about creative a strong perception of a company and its product/services in the minds of the consumers. A truly global brand: meets the wants and needs of a global market is offered in all world regions has the same brand name, and in … [Continue reading] about Global Branding and Glocal Branding Strategies
Economic Integration: Various Levels Explained
In the global landscape, Economic Integration usually can be classified into various additive levels. Regional Economic Integration (Preferential Trade Agreement) The WTO promotes free trade on a global basis, however countries in each of the world’s … [Continue reading] about Economic Integration: Various Levels Explained