Business terms

In a fast changing world of business and economic trends, operational levels within an organization is important for the success of the company. Within any “organization planning, control and decision-making is carried out at various levels within the structure of the organization. The three levels at which information can be used are strategic, tactical, and operational and there is a direct correlation between the levels of importance of individuals or groups within an organization and the…

resources in an efficient way. Pandit, a person from Ludhiana, started working for only Rs.1200 a month. But today Pandit has managed to build business that worth 22 crores. Question may arise how a person who started working for only rs.1200, has managed the business of Rs.22 crores? It was his competency of “Resource management” that helps him to have the worth business of 22 crores. CL Pandit faced many challenges at the initial stage when his father died. His family of six members survived…

implementation of the strategies and also helps in monitoring the performance of the company which leads to the growth of the company in a very efficient manner. Most often, the competition analysis is carried on to implement the strategies for long term period. The competition analysis…

The Pitch (What is your business?) I help speakers, authors, coaches, seminar leaders, online information marketers, ministries and businesses package their products and services. My company, Global Internet Enterprises, help them to position and promote themselves to get their products, services and messages in the marketplaces in a big way to make an impact and an income. Here is my story of struggles. I was poisoned at three months old and hospitalized in intensive and critical care for…

Coordinating • Controlling 1) Planning: A good plan of action ought to be versatile, continuous, relevant and correct because it unifies the organization by that specialize in the character, priorities, and condition of the business, longer-term predictions for the business and economy, the intuitions of key thinkers, and strategic sector analyses from specialist employee groups. For effective designing, managers ought to be consummated within the art of handling…

Product A product can be tangible, or intangible if it is a service. The core product that BetterBisnes offers is actually a service, a service to make business easier for entrepreneurs. Tangible products are involved, but as an additional option. The idea of BetterBisnes was created to make doing business convenient; with a few clicks and registration processes, you can launch your own webshop. Personalize it, add your own products or services, or add products from wholesalers. BetterBisnes…

to gain and identify the market opportunities and customers needs. 6. Competitors: Nokia’s marketing management role about competitors is not just identifying them but, also clarifying how to deal with the competitors and determining short and long-term strategies that Nokia will compete with. 7. Manage marketing mix (7Ps): It’s a set of action, Nokia’s marketing manager should use it to promote its brand in the target market. Marketing mix consisting of 7Ps elements: Products: Nokia’s…

retailers, manufacturers, jobs, wages, the overall culture of shopping, environment and the community, can feel Walmart’s impact. It prides itself on being the world largest company considering its broad and diverse reach. The Wal-Mart Effect is a term used to describe the impact of the entrance of a major cost-cutting power on a local economy. This wall-mart effect comes from the way Wall-marts operates regarding low prices which increase consumers saving which in the long run drive away…

operates, and take on the financial risk of a business is an entrepreneur. Entrepreneurs must be self-motivated as well as have characteristics such as passion, risk-taking, and knowledge to be successful (Goodman). In the beginning, entrepreneurship was once a male dominated field, however, many things have changed in the last few decades. Today, more women are breaking free from the traditional, gender-specific roles and venturing into the business world. Not only are they holding high…

exchange of business cards which stems from the initial point of exchange to the final storage of contact credentials. Traditional business cards despite their prevalent use; has its own limitations and pain points. Specifically, there are three main sources of pain for users, including: 1) Need to always carry a large stack of business cards. 2) Manual process of inputting and organizing contact information to a device. Often times, after the process of contact exchange, business cards pile…