Definition: Strategic Management is understanding the management's aim and making a strategy to accomplish such aims by efficiently utilizing an organization's resources. It is mainly concerned with describing the management about its environment, developing strategies to comply with that environment and assuming that the application of strategies takes place. In short, it … [Read more...] about Strategic Management
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Macroeconomics
Definition: Macroeconomics is that specialized field of economics which focuses on the overall economy. It works on the aggregate value of the various individual units, to determine its more substantial impact on the whole nation. All the prominent reforms and policies are based on this concept. For instance; the nation's income is computed as the per capita income, which is … [Read more...] about Macroeconomics
Strategy Vs Tactics
Even the top-performing managers consider the terms strategy and tactics as synonyms. Although both are far different from each other. A strategy is a corporate plan developed to competently achieve the company's vision in the long run, by overcoming various business obstacles. Whereas, tactics are the ways adopted to deal with certain situations which arise during the … [Read more...] about Strategy Vs Tactics
Decision Tree Analysis
Definition: Decision tree analysis is a powerful decision-making tool which initiates a structured nonparametric approach for problem-solving. It facilitates the evaluation and comparison of the various options and their results, as shown in a decision tree. It helps to choose the most competitive alternative. It is a widely used technique for taking crucial decisions like … [Read more...] about Decision Tree Analysis
Corporate Spinoff
Definition: Corporate spinoff refers to the dissolution of a subsidiary business entity from its parent company to form a new though smaller independent organization. The subsidiary company's shares are majorly allotted to the existing shareholders', as per their holding (pro-rata basis) in the parent company. The new entity so formed has an individual identity and acquires … [Read more...] about Corporate Spinoff
Dividend Policy
Definition: A dividend policy can be defined as the dividend distribution guidelines provided by the board of directors of a company. It sets the parameter for delivering returns to the equity shareholders, on the capital invested by them in the business. While taking such decisions, the company has to maintain a proper balance between its debt and equity … [Read more...] about Dividend Policy
Porter’s Value Chain
Definition: Porter's value chain or VCA (Value Chain Analysis) refers to the analysis and planning of a series of business activities (primary and secondary). These activities should be executed in such a manner that it adds value or utility to the customer experience from their purchase of products or services. A known American Economist, Michael Eugene Porter first stated … [Read more...] about Porter’s Value Chain
Case Study on Corporate Social Responsibility (CSR)
Definition: Corporate social responsibility refers to a sustainable business model where the company is accountable and responsible towards the social, cultural, environmental and economic aspects of the society. The companies cannot solely function for profit generation, it also needs to contribute to society and the public. An organization operating in a country is … [Read more...] about Case Study on Corporate Social Responsibility (CSR)
McKinsey 7s Model
Definition: McKinsey 7s model can be termed as an internal assessment tool for business organizations. It determines the organizational effectiveness by examining the alignment of the seven essential elements (i.e., hard elements - systems, strategy, structure; and soft elements - share values, staff, style, skills) with the core values of the entity. Robert Waterman, … [Read more...] about McKinsey 7s Model
Sales Management
Definition: Sales management can be seen as a segment of the organization's marketing mix. It deals with the formation of sales strategies; product merchandising and pricing; sales promotion activities; distribution function; and planning, staffing, supervising, motivating and controlling of sales personnel to attain the desired sales objectives. It was initially limited to … [Read more...] about Sales Management