Entrepreneurs turn their aspirations into reality. Many aspiring and existing entrepreneurs actively engage in entrepreneurial activities. Over the years, researchers have studied entrepreneurial behaviour and found several Types of Entrepreneurs. They are engaged in various activities in the IBS sectors (Industrial, Business and Service). Besides, they are also involved in … [Read more...] about Types of Entrepreneurs
Functions of an Entrepreneur
An entrepreneur contributes to the economy by undertaking a business activity. He integrates and regulates the 5 M's, i.e., Men, Material, Money, Machine and Method. During this while, he performs some critical functions that help the enterprise to grow and succeed. In this post, we will discuss some crucial Functions of an Entrepreneur. Entrepreneur performs all the essential … [Read more...] about Functions of an Entrepreneur
Demerger
Definition: Demerger is a powerful strategy and a restructuring technique wherein a company split-off its existing business into separate units to form a new self-operating company. Usually, it occurs in the case of large conglomerate businesses. Here, companies can split one or more undertakings into separate entities. Companies use it to reposition themselves and … [Read more...] about Demerger
Plant Layout
Definition: Plant Layout involves the optimum physical arrangement of the economic activity centres so that they are easily manageable. It aims at finding the quickest route for efficient material flow at minimum cost. We can also understand it as a floor plan of the men, machines and resources used in production. It focuses on identifying the best placement for vital … [Read more...] about Plant Layout
Types of Leadership Styles
Leadership is a vital part of the organization, and so are the types of leadership styles adopted by the leaders. This has been a matter of study since the 1930s. This is because, the experts try to study how a leader establishes his effect on his group members. Traditional and Modern studies have identified various types of leadership styles. This article discusses … [Read more...] about Types of Leadership Styles
Operations Strategy
Definition: Operations strategy is an essential part of the overall corporate strategy that specifies plans and policies to reconcile market requirements and operational resources. It is vital for long-term strategic success and to remain competitive in the market. This is because, without a good strategy, companies may lose their market share to competitors. It creates … [Read more...] about Operations Strategy
Types of Departmentation
During the departmentation process, the organization faces difficulty selecting the most suitable 'Types of Departmentation'. In large organizations, besides the workforce, activities and processes are also diversified. As they grow in structure, managing personnel and tasks becomes challenging. Thus, selecting the correct type of Departmentation is necessary to … [Read more...] about Types of Departmentation
Departmentation
Definition: Departmentation implies an organizing process involving the horizontal division of activities and personnel into homogeneous workable units known as Departments/Divisions. It involves the organization of a large enterprise into smaller administrative units at all levels. It is performed to facilitate smooth functioning within the organization. Moreover, … [Read more...] about Departmentation
Market Entry Strategies
Definition: Market Entry Strategies are the plan, methods or channels available with the firm to expand their business in the new target market within and across nations. It is one of the firms' most important decisions when entering new markets. Firms move to new markets to grab the growth opportunities prevailing in different markets. Note: The growth rate and … [Read more...] about Market Entry Strategies
Value Analysis
Definition: Value Analysis is a combination of creative and analytical techniques, especially for cost minimization and prevention in an innovative way. Moreover, it aims to find the best method to improve the product's value, service or process without sacrificing its worth and functions. It is a problem-solving method which identifies and eliminates unnecessary costs. These … [Read more...] about Value Analysis