Omnichannel retailing is a business strategy of providing customers with a seamless experience by enabling them to interact with the brand using various channels, including offline as well as online channels. In omnichannel retailing, different channels of distribution are used with the focus … [Continue reading] about Omni-Channel Retailing & Online Sales: Concepts & Theories
Inventory Management: Methods, Techniques, Theories
Learn about key strategies and best practices for effective inventory management to optimize stock levels, reduce costs, and improve business efficiency. In this article, we will understand the purpose of inventory, characterize the inventory … [Continue reading] about Inventory Management: Methods, Techniques, Theories
Workplace Diversity: Theories
Age, gender, ethnicity, race, marital status, religious belief, sexual identity, and economic status are factors that contribute to diversity. Managing Diversity is a strategy for developing and sustaining a positive workplace culture in which … [Continue reading] about Workplace Diversity: Theories
Principles of Management
The principles of management encompasses concepts and practices related to effective management within organizations. For example, Henri Fayol's fourteen principles of management lists guidelines for division of work, unity of command, equity, etc. … [Continue reading] about Principles of Management
Management Practices at McDonald’s: Case study
McDonald is a very well-known brand and is considered as the master of fast-food service. One of the main reasons for the success of McDonald's is its careful design of the fast-service system. You can expect the same quality of product and service … [Continue reading] about Management Practices at McDonald’s: Case study
The Experience Economy: Concepts
The Experience Economy recognises the significant importance of experiences in shaping individuals' perceptions making businesses create compelling experiences for their customers. In the previous service economy, companies simply wrapped … [Continue reading] about The Experience Economy: Concepts
Research: Books and Resources
Best Research books and resources. Refer these to improve your understanding of research before undertaking Business Analysis Projects. Blaxter, L. (2010) How to research. Tight & Christina. Hughes (eds.). Maidenhead, England :, McGraw-Hill/Open … [Continue reading] about Research: Books and Resources
Corporate Governance: Theories, Definition, Examples
Corporate governance is important to maintain the stability and integrity of companies as it promotes trust in the business environment. Studies suggest that there is a positive relationship between Corporate Governance and shareholders value. … [Continue reading] about Corporate Governance: Theories, Definition, Examples
Agency Theory & Agency Problem Explained
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 … [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. The need for better corporate governance is causing an increasing interest in board diversity, and it is now an important issue for managers, directors and … [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
Trompenaars and Hampden-Turner’s Seven Dimensions of Culture
Trompenaars and Hampden-Turner's "Seven Dimensions of Culture" model offers useful insights for managing cross-cultural interactions in both professional and personal settings. It explains national cultural differences in organizations and ways to … [Continue reading] about Trompenaars and Hampden-Turner’s Seven Dimensions of Culture
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
Who is a Stakeholder? Definition and Examples
A stakeholder is anyone that has an interest in a business; these can be in the form of customers, employees, suppliers and community. Stakeholders include all those invested and involved in, or affected by, the company, such as employees, consumers, … [Continue reading] about Who is a Stakeholder? Definition and Examples
Resource Dependence Theory Explained
Resource Dependence Theory (RDT) is a framework that suggests that firms are not self-sufficient entities but are instead reliant on various resources in their environment for survival. These resources include capital, raw materials, technology, … [Continue reading] about Resource Dependence Theory 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
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
A brand is much more than a name or a logo, and represents the full 'personality’ of the company. Here we understand the concept of brand, its elements, and the advantages it offers. Importance of a Brand Businesses that invest in and sustain … [Continue reading] about Brand and Brand Elements
Understanding a Multinational Corporation (MNC)
When discussing a Multinational Corporation (MNC), terms like Multinational Enterprise (MNE) and Transnational Corporation (TNC) are also commonly used. While they are all involved in international operations, there are some distinctions between … [Continue reading] about Understanding a Multinational Corporation (MNC)
Stakeholder Theory Explained
The stakeholder theory, put forward by Edward Freeman, links to corporate social responsibility but the main difference is that it starts from the world's perspective rather than starting from a business perspective. It takes into account benefits of … [Continue reading] about Stakeholder Theory Explained
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)
Organizational Behaviour: Theories with Examples
Organization behaviour involves the study of people, teams and culture within an organization, how they interact and how it impacts the business operations. Good understanding of organizational behavior is important for organization success as it … [Continue reading] about Organizational Behaviour: Theories with Examples
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