A customer relationship management system or CRM system is a specific application of information systems centered on managing the interaction of an organization with its current and potential customers using data analytics and automation tools. Hence, its purpose is to build and maintain relationship relationships with the customers. Purpose, Features, and Applications of a CRM […]
Tag Archives: Business
The Strategy and Success of Cirque du Soleil
The Canadian entertainment and traveling circus company Cirque du Soleil is one of the prime examples of an organization demonstrating the effectiveness of a strategy based on unlocking new market demand and making competition irrelevant. When the circus company was founded by former circus performer Guy Laliberté in 1984, it entered an industry characterized by […]
Steve Jobs: Accomplishments and Contributions
Steve Jobs died on 5 October 2011 at the age of 56 due to pancreatic cancer. Despite his demise, his accomplishments and contributions in the fields of computer, consumer electronics technology, and business have left a lasting legacy. The Jobs Legacy: Accomplishments and Contributions of Steve Jobs Founded Apple and a Key Contributor to Microcomputer […]
Cash Accounting vs. Accrual Accounting
There are two general methods of accounting: cash accounting or cash basis accounting and accrual accounting or accrual basis accounting. The cash basis method involves recording revenue when cash is received and recording expenses when they are paid. On the other hand, in the accrual basis method, revenue is recorded only when it is actually […]
Review: Pros and Cons of PayPal as a Payment Processor
PayPal is an online payment system owned and operated by the American company PayPal Holdings Inc. It specifically provides online money transfers while also operating as a payment processor or payment gateway for individual online vendors, electronic commerce businesses, auction websites, and other commercial uses. A Concise Review of PayPal as a Payment Processor for […]
Pros and Cons of Retail Forex Trading
The foreign exchange market or forex is a decentralized global market involved with the trading of currencies. Within the market is a small segment composed of individuals who speculate on the exchange rate between different currencies through brokerage companies. This segment is called retail forex trading. What Are The Advantages and Disadvantages of Retail Foreign […]
Logistics Flows: Inbound, Outbound, and Reverse
Logistics flows pertain to the movement and direction of the goods, items, or information within the supply chain or more specifically, between the point of origin and the point of consumption. There are three directions that also correspond to three different logistical processes. These are inbound logistics, outbound logistics, and reverse logistics. Three Major Logistics […]
Difference Between Push Strategy and Pull Strategy
Both push strategy and pull strategy are business terms originating in logistics and supply chain management. These two concepts are also used in marketing, particularly in determining or evaluating distribution strategies. They essentially pertain to a specific approach of moving a product from the point of origin to the point of consumption. What is the […]
Corporate Social Responsibility Theory of Milton Friedman
In his 1970 article that appeared on the New York Times, American economist Milton Friedman discussed the social responsibility of business organizations. His argument was straightforward: the social responsibility of a business is to increase its profits. Note that he first presented this argument in hi book “Capitalism and Freedom” published in 1962. The Stakeholder […]
Criticisms of Corporate Social Responsibility
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 […]