A number of business organizations and trade or industry associations across the globe have now embraced the importance of corporate social responsibility or CSR. By definition, a CSR is a concept pertaining to policies and practices directed toward the creation and realization of value for a broad range of stakeholders. Based on the socioeconomic model […]
Category Archives: Business and Economics
Difference Between Marketing and Sales
Both marketing and sales are important and related components of a business operation aimed at bringing goods or services to the consumers. However, despite having the same goal and some overlaps, as well as despite the necessity of close integration between the two, marketing and sales are inherently different in terms of their core principles […]
The Instant Gratification Monkey
The Instant Gratification Monkey is a concept introduced by blogger Tim Urban that represents a part of the brain that interferes with rational decision-making. Specifically, this figurative creature is the reason why people procrastinate, particularly by compelling individuals to desire to experience pleasure or fulfillment without delay or deferment instead of focusing on accomplishing a […]
What is Jekyll and Hyde Leadership?
In their article published in the Journal of Leadership & Organizational Studies, researchers Jessie Lee, Gang Wang, and Ronald F. Piccolo introduced the concept of Jekyll and Hyde Leadership in a multilevel and multi-sample examination of charisma and abuse on follower and team outcomes. Take note that “Jekyll” and “Hyde” are two fictional characters from […]
Management vs. Leadership: The Difference
The words “management” and “leadership” are often used interchangeably in casual conversations. However, several scholars in the fields of business management and leadership studies have argued that these two concepts have different meanings and thus, different usage. What Is The Difference Between Management and Leadership? In his 1977 article, Abraham Zaleznik, a leading scholar and […]
Distributive Bargaining vs. Integrative Negotiation
Distributive bargaining and integrative bargaining are two primary types of strategy used in negotiation or conflict resolution. Take note that these two strategies are inherently different from one another in terms of principles, approach or the involved processes, as well as negotiation outcomes The Difference Between Distributive Bargaining and Integrative Negotiation Distributive bargaining is a […]
What is a White Paper?
A white paper is a type of nonfiction literature or more appropriately, an authoritative report prepared by a government agency or a non-government entity to inform target readers about a complex issue and explain their position on the matter. The term “white paper” originated with the government of the United Kingdom. The earliest known usage […]
The Purpose of Monetary Policy
A monetary policy is a macroeconomic tool used by governments through their respective monetary authorities to influence economic growth. Take note that depending on the country, a monetary authority can either be a central bank, a currency board, or another government-appointed regulatory body. The primary purpose of a monetary policy is to expand or contract […]
What is the Purpose of After-Sales Service?
After-Sales service is an example of a sales promotion activity. By definition, it includes all business activities geared toward customer satisfaction beyond the point of sales. The Purposes and Benefits of After-Sales Service Below are the six major purposes and corresponding benefits of after-sales services: • To build and maintain a relationship with the customers: […]
Drawbacks and Risks of Crowdfunding
Crowdfunding has several benefits that correspond to numerous applications. However, this alternative type of funding has disadvantages or more specifically, drawbacks and risks. Disadvantages and Criticisms: Drawbacks and Risks of Crowdfunding • Projects need to be compelling enough to gain public interest and draw funding from the crowd. Fund seekers need to provide a viable […]