Archive | Business

Ethical and Unethical Behaviour at Workplace | Ethics | Management

In this article we will discuss about the ethical and unethical behaviour at workplace. Ethical Behaviour Within the Work Place: Ethical behaviour is behaviour that is appropriate. It is based on morals. Ethical behaviour is the right way to behave. It is choosing the right and good. Ethical behaviour is when someone is being on […]

Areas for Setting Business Objectives | Business | Management

The following points highlight the eight major areas in which businesses should set objectives identified by Peter Drucker. Also we will learn about the need for balancing these multiple objectives. Area # 1. Market Standing: A business must set objectives concerning what share of the market it will try to capture. The best market share […]

Top 6 Competitors of a Business | Business Management

There are at least top six competitors (shown below) against which a business requires advantage. The competitors are:- 1. Direct Competitors 2. Suppliers 3. Buyers 4. New Entrants 5. Product Substitutes 6. Government Agencies. Each of them attempts to exert downward pressure on a business’s return on investment (ROI). Competitor # 1. Direct Competitors: These […]

Arguments in Favour of Acquisition of a Firm | Business

The following points highlight the ten major arguments in favour of acquisition as a strategic choice for a firm. The arguments are:- 1. Reduction of risk 2. Avoidance of profit slump 3. A means of entry into a new area 4. A means of obtaining cash 5. Welding together a fragmented industry 6. Removal of […]

Acquisition Criteria and Strategic Approaches: Difference | Business

The upcoming discussion will update you about the difference between acquisition criteria and strategic approaches by acquirer in strategic management. Difference # Acquisition Criteria: 1. Synergistic nature product/market. 2. Inefficiency in marketing structure and designs. 3. Poor motivation of management team. 4. Underutilization of manufacturing capacities. 5. Under-exploitation of trademarks, brand names and copyrights. 6. […]

Business Process Reengineering (BPR) | Business Management

Michael Hammer and James champy defined BPR as “the FUNDAMENTAL rethink­ing and RADICAL redesign of the business PROCESS to achieve DRAMATIC improve­ment in the critical contemporary measures of performance such as costs, quality, service, and speed.” This definition contains the four key words: Fundamental: Why do we do what we do? Why do we do […]

Financial Synergy and Portfolio Planning for Business | Management

In this article we will discuss about financial synergy, that diversification can achieve and how BCG matrix or portfolio planning can aid in developing this synergy. Broadly, there are two major approaches to achieving competitive advantage: market share and synergy. Synergy implies—joining business units together so that their combined performance exceeds that which would be […]

Development of Commerce: 5 Stages | Management

This article throws light upon the five stages of development of commerce. The stages are: 1. Primitive Stage 2. Barter Stage 3. Start of Trading 4. Town Economy Stage 5. International Trade. 1. Primitive Stage: In the olden days, the needs were very few and men produced only those things which they essentially needed and […]

10 Main Qualities of a Successful Businessman

This article throws light upon the ten main qualities of a successful businessman. The qualities are: 1. Knowledge of Business 2. Accuracy 3. Time Sense and Foresight 4. Alertness 5. Honesty and Morality 6. Initiative and Capacity to Make Decisions 7. Ability to Co-Operate 8. Consistency and Dependability 9. Energy 10. Personal Qualities. Quality # […]

6 Main Types of Business Ownership | Management

The different types of business ownership are:- 1. Single Ownership (Private Undertaking). 2. Partnership. 3. Joint Stock Company 4. Cooperative Organisation (Or Societies) 5. Public Sector 6. Private Sector. Type # 1. Single Ownership: Ownership when applied to an industrial enterprise means title to and possession of the assets of the enterprise, the power to […]