The mission, vision, and value statements of organizations are more than just public declarations of their identities, intentions, and positioning. When developed and utilized in their proper context, these statements form part of the long-term strategy of a particular organization and guide leaders in making an array of decisions ranging from short-term goals, marketing objectives, […]
Tag Archives: Management
The Purpose of a CRM System
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 […]
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 […]
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 […]
Breakdown: The Order Fulfillment Process
By its general definition, order fulfillment is the entire process of delivering a product from the point of production to the point of consumption. It is also important to note that the term applies to specific processes or functions in distribution and logistics management. Nonetheless, understanding the elements of the order fulfillment process is essential […]
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 […]
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 […]
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 the necessity of close integration between the two, marketing and sales are inherently different in terms of their core principles and […]
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 […]
