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smart goals
11 Oct

SMART Goals

Business students are generally taught this acronym as part of their business curriculum in a business management course, however, business leaders around the world often refer to this acronym to establish objectives for their organization. Note that it can also...

By Jarrod | smart goals, smart goals meaning | Continue Reading
economies of scale
7 Oct

Economies of Scale

Economies of scale is not only a really important concept to understand, but it is useful to be aware of and can be applied to numerous aspects of business; logistics, puchasing, marketing, production, and even process analysis in operations research to name a few. At its basic core, it loosely means a company realizes...

By Jarrod | economies of scale, what is economies of scale | Continue Reading
inventory
28 Sept

Inventory Forecasting

Typically it is the responsibility of the forecasting team to establish inventory levels for an organization. The most important part of this job is analysis; know your data, review it, check it, research, and ask the product SME's (subject matter experts) questions to confirm any anomalies that you...

By Jarrod | forecasting, inventory forecast, what is forecasting | Continue Reading
backlinks
14 Sept

Elasticity of Demand

Elasticity of Demand is a topic reviewed in good ole’ economics. In short, elasticity of demand refers to how sensitive or responsive consumers are to price changes of a product. If consumers buy more or less of a product due to a change in that products pricing, then the...

By Jarrod | elasticity of demand, demand elasticity, price elasticity | Continue Reading
what are backlinks
2 Sept

Dimensions of Service Quality

There are 5 dimensions that customers use to evaluate the quality of service. These dimensions are generally used to establish levels of customer satisfaction; comparing their perception of the service they received with their expectations. While this may seem intuitive, when expectations are..

By Jarrod | dimensions of quality service, service quality | Continue Reading
product life cycle
12 Aug

Product Life Cycle

All products that are available to consumers are at some stage within the product life cycle. The product life cycle is a concept that refers to the stage’s a product goes through from introduction to decline(demise). There are four primary stages, as follows: 1) Introduction, 2) Growth, 3) Maturity, and 4) Decline

By Jarrod | product life cycle, marketing 4 P's, four P's | Continue Reading
barriers to market entry
27 Jul

Barriers to Market Entry

The business environment is as challenging as... people are fickle, technological advances are perpetual, and the only certainty is that change is inevitable. Having an understanding of the business environment and market barriers to entry will help entrepreneurs confront the challenges of establishing a new venture with a little more confidence; knowing they have utilized another tool in...

By Jarrod | barriers to market entry, rivalry, porter's 5 forces | Continue Reading
leadership styles
14 Jul

Leadership Styles

Organizational behavior and corporate culture are often driven by the leaders of the organization. And every leader has a particular style of leadership. While there are as many as 10 different leadership styles, this article will focus on 6 styles of leadership based on an individual’s emotional intelligence; derived from research by Daniel Goleman. The six leadership styles are; 1) Coercive, 2) Authoritative...

By Jarrod | leadership styles, Goleman, Organizational Behavior | Continue Reading
leadership styles
10 Jun

Pricing Strategies

Every company knows that revenues are earned through pricing (while profits are made in purchasing). This article will focus on the various pricing strategies. Research has shown that many companies don’t conduct the necessary pricing research to establish a solid pricing strategy, which can...

By Jarrod | pricing strategies, pricing, strategy of pricing | Continue Reading