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In the project type organization, employees work for different projects in a team-like structure. Example for project type organization is construction companies. In construction companies, different teams work on different projects. In this structure teams are put together for a project. Each project is headed by a project leader. Each team will have employees to […]
While organisational buying is best viewed as a decision process, the steps that make up the process differ across companies and products. Steps needed in a new task or modified re-buy decision may not be necessary in straight re-buy decisions. Over a period of time, each organisation evolves its own procedures for making purchase decisions. […]
The following are some of the important strategies Joint ventures A joint venture is a strategic alliance where two or more parties, usually businesses, form a partnership to share markets, intellectual property, assets, knowledge, and profits. A joint venture differs from a merger, in the sense that there is no transfer of ownership in […]
The traditional orientation of branding suggests that brand name is a part of the brand consisting of words or letters that form a means to identify and distinguish a firm’s offer. A brand mark is the symbol or pictorial diagram that helps in the identification of the product. There are generic brand names that have […]
Herbert Simon, the Nobel Prize winning researcher, showed that humans went through three essential stages in the act of problem solving. He called these the Intelligence, Design, and Choice stages. Decision making can also be considered as a type of problem solving. In the first stage, that of intelligence, they collect information about the issue […]
Project organisation is one of the most crucial parts of project planning. It is a structure that is designed for the successful execution of a project. It provides a complete framework for a project and ensures that the project is arranged in a manageable structure. In project organisation, the complexity of a project is structured […]
The following are function of human resource planning: Staff Levels Human resource professionals gather all of the personnel projections from each department compare them to present staff levels and then design a plan to make sure that the company is adequately staffed for the coming year. The needs of a business can change quickly, […]
Top-down planning Bottom-up planning Top-down planning is a common strategy that is used for project planning. It helps maintain the decision making process at the senior level. Goals and allowances are established at the highest level. Senior-level managers have to be very specific when laying out expectations because the people following the plan are not […]
Strategic planning process involves allocation of resources to firms to fulfill their long-term goals. Any business plan can be classified into the following three types. Strategic planning This planning process is the best among the three business planning processes. It is a long-term process that the business owners utilize to unveil their business’ vision […]
Foreign Currency derivative is defined as a financial contract that seeks to swap two currencies at a predetermined rate. It can also be termed as the agreement where the value can be determined from the rate of exchange of two currencies at the spot. The currency derivative trades in markets that correspond to the spot […]