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. Supply Chain A supply chain is basically a network between a company and its suppliers that helps it to produce and distribute products. The more efficient the supply chain, the faster […]
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 making a selection, structuring the terms of the investment, implementing the deal and monitor progress, achieving returns and exiting from the […]
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. The nature of investment decisions is such that: Large amounts of resources are often involved Relatively long timescales are involved Often difficult or expensive to bale out of […]
Budgeting 101: How Firms Control Their Finances
Explain the purpose of budgets. Interpret the information that budgets provide. Critique the benefits and shortcomings of budgets. “A future plan which sets out a business’s financial targets”. (chartered Institute of Management). Forward looking, compare this to Financial Reports which we have looked at in previous weeks which are backward looking. Why Budgeting Main benefits […]
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. The annual report of a company includes the Income Statement, Statement of Financial Position (also known as a Balance Sheet) and other financial statements such as a Cash Flow Statement and a […]
Kapferer Brand Identity Prism Explained
Jean-Noel Kapferer’s Brand Identity Prism is a model that talks about the various facets that helps a business build strong, enduring brand identity. As per the model, a brand’s success is driven by a company-wide utilisation of the following elements: Kapferer Brand Identity Prism: various Facets Physique Physical tangible qualities – salient and emerging The […]
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 contains the story of a business…but like any good book there is a hidden […]
Cost Accounting 101: Understanding the Basics
One of the activities of management accounting is costing; there are different types of cost and costing methods. Learn more about cost accounting and why its needed in organisations. Management accounting is the presentation of financial information to management in a suitable format to enable them to control the business, to plan and make decisions. […]
Marcom Objectives & Tools
Marcom (marketing communication) objectives & tools. Marcom Tools Various Marcom Tools: Advertising, Social Media, Trade shows and personal selling, Distribution, Personal selling, Price, Product satisfaction, Introductory low pricing, Free samples and coupons, Coupons. Marcom Objectives & Tools Here are the various Marcom objectives and how they can be achieved by using the appropriate Marcom tools. […]
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, conviction, and purchase. The theory proposes that advertising and marketing efforts can guide consumers through these stages, leading them […]
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 the target market. While brand positioning and positioning as part of […]
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 the broader field of service management. Understand how firms manage service quality and optimize their service operations for maximum efficiency, […]
The Five Essential Performance Objectives of Operational Success
Firms can improve operations through strategic performance objectives. Learn how organizations use performance objectives to optimize operational efficiency, maximizing profitability and to gain competive advantages. The performance objectives of operations are a set of specific goals or targets that businesses strive to achieve in order to improve their overall operational efficiency and effectiveness. These objectives […]
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. J.Dyson 2020 Accounting for non-accounting students. 10th Edition Pearson. P Atrill, E McLaney 2018 Management Accounting for Decision Makers. P Atrill E McLaney 2020 Financial Management for Decision makers. batheoriesBATheories.com is managed by […]
Understanding the Transformation Process in Operations Management
The framework is commonly used in operations management to optimize the various processes and to streamline operations. 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. Introduction The transformation process refers to the various activities that businesses undertake to […]
Principles of Management by Henri Fayol
Henri Fayol’s Principles of Management includes 14 principles that are used in managerial decision-making and organizational design. These principles were identified by Henri Fayol in the early 20th century. Henri Fayol is credited with developing one of the earliest comprehensive management theories. His contribution to the field of management science includes six core management functions […]
Global Leadership in Modern Times: An Intersection of Culture, Politics, and Economics
Find insights on effective global leadership. Here we tryto understand the traits and characteristics of a Global Leader that promote cross-cultural collaboration. Global leadership is about leading collaborative efforts among people from different countries and cultures towards a vision by adopting a global mindset. Here’s one definition of global Leadership. “The leadership of individuals who […]
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 Blockbuster. Blockbuster was a company that dominated the video rental market in the 1980’s and 90’s. From its start in […]
Breaking Down the Generational Divide: Understanding X, Y, Z and Beyond
BabyBoomers: Born between 1945 and 1964, C suite jobs, settled and retired Generation X: Born between 1965 and 1981. Coexist with Gen Y, Gen Z. Workaholics. Undergone technological evolution and rise of media. Less dependant on Smartphones. Generation Y: Born between 1982 and 1994. Also known as Millenials. Technology is part of everyday life. Transformed […]
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 I.T to automate. 4th I.R- Application of Information and Communication Technology ( Cyber Revolution, 4 […]
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 involves identifying a commercial opportunity, developing a business model, secure funding, assembling a team, and bring a product or […]
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 entrepreneurs; the idea being that the enterprising person shares entrepreneurial characteristics. Just as there are different types of […]
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 mobile phones. The Rise of Social Media Studies reveal that people spend almost one quarter of their online time on […]
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 “Fly in Leather” into Spanish as “Fly Naked.” Clairol launched a curling iron called “Mist Stick” in Germany even though “mist” is […]
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 great diversity. Diversity in the Global Retailing Scene Department stores literally have several departments under one roof, each representing a distinct merchandise […]
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 some instances, a similar image and positioning throughout the world. […]
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 regions are seeking to liberalize trade within their own regions. Preferential trade agreement (PTA) is a mechanism that confers […]
Self-Reference Criterion (SRC) Explained
In attempting to understand anther culture, we inevitably, interpret our new cultural surrounding on the basis of existing knowledge of our own culture. There is a human tendency towards ethnocentricity. These ‘biased’ interpretations happen unconsciously, and they prevent cultural empathy. Lee (1966) introduces the self-reference criterion to characterize our unconscious reference to our own cultural […]
The EPRG Framework/Model of International Business
EPRG (acronym for Ethnocentric, Polycentric, Regiocentric, and Geocentric) is a framework to explain internationalization approaches of businesses. It is used in the internationalization process of businesses, and helps understand the type of orientation a firm may have towards international business. The EPRG Framework explains Management assumptions (conscious & unconscious) or beliefs about doing business around […]
Change Management: Various Models/Theories to manage change better
There are several change management models that help organisations implement change successfully. Here we take a look at the various models and theories to help manage change. Lewin’s Change Model Lewin’s change model is a simple change framework, consisting of three distinct stages of change, to plan and implement the change. The three stages are: […]
The Rising Power of Emerging Markets
The Emergence of a New Economic Powerhouse: The rise of BRICS (Brazil, Russia, India, China and South Africa) as the 21st century’s engines of global economic growth. There is a shift of power within the world economy towards these countries, especially China. These countries look interesting for global marketers due to the following reasons: Growing […]
Understanding Global Competition and Strategies Moves
Understand the structure of Global Competition and resulting strategic options. The Globalization of Competition An inevitable consequence of globalization of markets is the growth of intense competition on a global scale. Liberalization, deregulation and privatization are the three forces that are transforming the global business environment and lead to a greater number of competitors and […]
The 4 Vs of Operations Management Explained
In Operations Management, the 4Vs refer to the four dimensions used to assess operations processes. Typology of Operations: 4Vs Operations can be categorised into four dimensions, referred to as The 4Vs typology. These four dimensions are Volume, Variety, Variation in demand, and Visibility. Volume It refers to the Quantity (units) of products that a company […]
Bottom of the Pyramid (BOP) Markets
Prahalad (2004) and Karnani (2007) discuss the role of private sector companies in responsibly serving bottom of the pyramid markets (low income markets) in efforts to reduce poverty. Prahalad (2004) suggests that businesses and governments should stop thinking of the poor as victims but as value-demanding consumers. BOP markets should be part of core business […]
Global Advertising: Breaking Down Borders
Global advertising may be defined as messages whose art, copy, headlines photographs, taglines, and other elements have been developed explicitly for worldwide suitability. A standardized ad campaign requires a key message, delivered to the target audience, that must resonate across countries and cultures. Here are a few Examples: Nike (“Just do it”) McDonalds (“I’m lovin’ […]
Global Marketing: Definition, Scope, Strategies, Examples
In a globalized world, the entire world is a marketplace, and market segments are no longer considered based only on the basis of national borders. Products have always been travelling and international trade has existed for centuries. While international trade is not new, the mass-marketization of products in a globalized marketplace is new. Definition of […]
Marketing Environment: Understanding the internal and external environment
Marketing operates in a complex and changing environment. The marketing environment is the environment that a business operates in (Whalley 2010, p. 50). It involves the actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers (Kotler et al. 2013). The marketing environment involves an internal […]
Product Adaptation and Standardization
Every business needs product/services that it can sell to potential customers. While firms would prefer to have standardized products that they can sell over the world, there are various factors that compel firms to adapt their products. In general, products that offer high core product benefits and require less support services are better suited to […]
Product (P of Marketing Mix) & Product Mix: Definition, Features, Examples
A product is a good, service or an idea with both tangible and intangible attributes that collectively create value for a buyer or user. Tangible attributes can be assessed in physical terms such as weight dimensions, or materials used. It refers to an item’s ability to be touched and whether it can be stored – […]
Organizational Structures for Global Marketing
The success of a global strategy is influenced by the selection of an appropriate organizational structure to implement that strategy. The ideal structure of such as an organization should be a function of: the products and services to be sold in a marketplace the external and internal environment Theoretically, the way to develop a global […]
Decision-Making Matrix (Pugh Matrix)
The Pugh Matrix is a decision-making tool that is used to compare multiple alternatives and select the most favourable one. In this method, the various options are evaluated based on several weighted criteria. This is a variation of the L-shaped matrix. This tool is also referred to by many other terms such as decision grid, […]
Global Market Segmentation: How firms assess and select markets
Global Market Segmentation: Here’s how firms screen and select country markets to enter. Importance of Entering the ‘Right’ Market There are over a couple of hundred countries and territories, but most firms do not compete in all those markets. Adding another country to a company’s portfolio requires additional investment and represents a new business risk. […]
Human Resource Management (HRM): Definitions, Concepts
The success of businesses depends a lot on the workforce. A motivated and skilled workforce can do wonders to the growth of the company. However, there are many things that play a part in hiring people, keeping the employees happy and satisfied within the company. That is where HR plays an important role. Organizations today […]
Market Entry Modes in Global Marketing: Expansion Strategies
Foreign Market Entry Strategies: Various ways to enter the international market. Any company that wants to enter the international market has to take some strategic decisions pertaining to that foreign market; it has to analyse the market and plan its entry in that market, besides considering other factors. Expansion Strategy Concentration versus Diversification Concentration: A […]
International Marketing: Scope, Strategies, Examples
International marketing refers to the activities related to the sale of goods and services of one country in other countries. While international trade is about commerce between countries, international marketing is about promotion of products and services to the international market. Domestic Marketing Strategy Marketing that is aimed at a single market, the firm’s domestic […]
Standardisation vs Adaptation (Glocalization) in International Marketing
Marketing mixes can be standardized (global) or they can be adapted (local). Marketing mixes of most global companies tend to be “glocal” with some amount of localization. Standardisation vs Adaptation in International Marketing Once the firm has decided which countries to enter and which entry modes to use the next issue concerns how to design […]
Internationalization: Definition, Models, Barriers
“Internationalization” is the term we use for a firm’s expansion from its domestic market into new markets abroad. Today most large companies operate outside their home markets. Let’s understand the motives behind a company’s decision to compete in global markets, and the right time to internationalize. Motives for Internationalization Internationalisation refers to the process in […]
Understanding Free Trade: Definition, Pros, and Cons
Put simply, Free trade is international trade where there are no government policies restricting the import and export of goods and services. While economists consider this as the best approach to maintain a healthy global economy, this is more of a theoretical policy become some restrictions do exist. Free trade means importing and exporting without […]
Organization Culture: Importance, factors and how it can be changed
Organizational culture refers to things such as uniformity in work practices, working style, employee motivation levels, sense of belonging, etc. within the company. Culture is also something that takes times to build and also cannot be changed easily. “Organisation culture” refers to: The values and beliefs of an organisation. The principles, ideologies as well as […]
Leadership (Organizational Behavior)
The communities where we live and work are facing complex challenges such as climate change, economic uncertainty, income inequality, multicultural relations, geopolitical unrest and other seemingly uncontrollable forces. People are stressed, confused, anxious, on edge. When we think of leadership in such times, we immediately look toward the dynamic individual leader who can guide us […]
