Why customers prefer one brand over another? How do you know about the companies’ promos and deals? How a company makes an apology and issues a recall for unsafe or defective products? It is all about a company’s effective communication strategy that customers know about products and services. It shows the importance of communication. That is why companies invest in …
What is Business Decision Making Process? Whether it’s a sole proprietorship, partnership, SME or large corporation; the success of every business depends on the quality of decision its management is making. However, when we talk about decision, it’s a step by step process which allows business people to take calculated risks by weighing different alternative and contrasting among various opportunities. …
What is Business Analysis? A business comprises of goals and drivers. The drivers understand and guide the business to reach its goals. This process of understanding a business, its needs, problems, solutions, etc. is known as business analysis. Business analysis is performed by the stakeholders or drivers of the business so that they can ensure all business problems are taken …
As mentioned above, competitive strategy is a long-term action plan of firms so as to gain a competitive advantage over its rivals in the industry. This strategy is focused to achieve above average position and generate a superior Return on Investment (ROI).
What is Coworking As the name implies coworking means working together; it is not just limited to sharing offices, stationary, and workspace cost. It is the place where you have a sustainable environment of collaboration, productivity, and a sense of community of the like-minded people. It’s something which you usually see and feel in the environment of corporate offices. The …
As we know that entrepreneurship is about starting a new venture to gain profit, even though it involves a significant amount of risk, but the entrepreneur takes the risk. Launching a new business is a very common example of entrepreneurship. There are different types of entrepreneur ranging from small businesses to multi-level organization who starts from zero. Simply speaking it’s …
We all know that while driving, we need a roadmap to guide us to our destination. Similarly, while running a business, we need a sound business strategy that can guide us to our goals. Different businesses use different business strategies in order to achieve their targets. And while the concept of business strategy looks simple enough, delve deeper and you …
Business is an economic activity of sale and purchase of goods and services; which a business person performs to make his living out of it. The gape or margin between sale and purchase is profit; which is usually the main concern of any business person. The bigger the profit margin is, the more interesting it would be for the businessman. …
Business competition is the race or rivalry among business competitors that are competing in the same niche. The purpose of competing with one another is to increase the revenue of the business by increasing the sales and market share. If you’re in the business market, then you should be familiar with the strength and weaknesses of your own business, and …
What is Payroll? Payroll is a very important function of an organization where a salary record of employees is prepared and maintained. In other words, how much salary an employee has made in each month. However, there are many things to consider for the payroll like the right amount a company should pay to its employees; tax deduction and distribution …
