organization’s strategy. It is also defined as the process by which managers make a choice of a set of strategies for the organization that will enable it to achieve better performance. Strategic management is a continuous process that appraises the business and industries in which the organization is involved; appraises it’s competitors; and fixes goals to meet all the present and future competitor’s and then reassesses each strategy. Strategic management process has following four steps: 1. Environmental
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ability to communicate effectively. We need to communicate everywhere‚ at home‚ colleges‚ schools and different organizations‚ even in business organizations. Therefore‚ it is important to know how to communicate in a good way in these organizations and companies to achieve massive success. So what is communication? What are the business organizations? What is business communication? Communication is defined as: "to send information‚ ideas and opinions from person to another in organization through
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People who are interested in the operations of the organizations are known as stakeholders e.g. shareholders‚ employees‚ customers‚ competitors etc. It a responsibility of the organization to fulfill their needs and interest if they want to run the business in its most effective manner. In addition‚ it is important for
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Nepotism in Business In the business world‚ nepotism is the practice of showing favoritism toward one’s family members or friends in economic or employment terms. For example‚ granting favors or jobs to friends and relatives. Nepotism is a form of discrimination in which family members or friends are hired for in spite of their experience‚ knowledge or skills. It occurs more frequently in family-owned businesses‚ nonprofit organizations and small companies. The presence of nepotism is especially
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There are two main types of business incubators. There is non profit and for profit incubators. Now if you look closer at both I think you can break them down in to four more specific types. Under non profit there is Academic and scientific incubators as well as economic development incubators‚ but then for profit incubators there are private investor incubators and corporate incubators. These generic types are just classifications of all the incubators out there. Those can even be broken into many
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of Technology on Business Communications INTRODUCTION Technology has changed business in many ways‚ but its affect on communication is arguably the most significant. Indeed‚ according to Walden University College of Management and Technology‚ communication through email‚ text messaging‚ instant messaging and even budding tools like social networking have been "among the most profound effects of technology on every area of business." However‚ while technology did make business communications faster
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ECO2021 The Business Cycle The business cycle‚ it is also called economic cycle‚ are periodically and unstable levels in the economy that an economy has in different periods of time. Even though it was considered to be predictable and stable‚ it is now considered as unpredictable‚ and unstable that could vary in any time. The Business cycle will guide the businesses‚ industries‚ and companies to act in a specific way‚ depending in which of the 4 phases the business cycle is. Since business cycle could
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Business Etiquette As your career progresses‚ you develop skills which are respected and expected‚ professional etiquette. Professional etiquette builds leadership‚ quality‚ business‚ and careers. It refines skills needed for exceptional service. Whether you are an executive or just starting out‚ a seminar in Professional business etiquette‚ nationally and internationally will definitely be beneficial to you. Without proper business etiquette‚ you limit your potential‚ risk you image
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Introduce to Business Chapter 1 The framework of Contemporary Business Learning Goals 1. Distinguish between business and not-for-profit organizations. 2. Indentify and describe the factors of production. 3. Describe the private enterprise system‚ including basic rights and entrepreneurship 4. Indentify the six eras of business and explain how the relationship era – including alliances‚ technology‚ and environmental concerns-influences contemporary business. 5. Explain how today’s
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Business communication Part-1 Question 1. Communication is an essential function of Business Organizations. 2. Physiological Barriers of listening are: Ans. (a) Hearing impairment 3. Which presentation tends to make you speak more quickly than usual? Ans. (b) Oral 4. What is the main function of Business Communication: Ans. (c) Persuasion 5. The responsibilities of the office manager in a firm that produces electronics spares is Ans. ( d).. All of the above 6. Labov’s
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