What is the difference between an aim and an objective?

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Aims and objectives are two widely used concepts in business literature. They are sometimes used interchangeably and loosely refer to targets or goals. However, these terms are different from each other. This article will focus on the key differences between aims and objectives. Aim is usually considered a general statement, whereas ‘objectives are statements of specific outcomes that are to be achieved’ (Johnson, Scholes & Whittington, 20O6, p.209). Objectives usually follow SMART criteria, whereas this is not the case with aims. Aims are statements of intent, usually expressed in broad […]

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What is Force Field Analysis?

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Change management is not an easy task. It requires a rigorous plan, and managers need to use a number of techniques and tools as well. It is good that there are a number of tools and theories available which can be used in change management. One of these highly cited tools is called Force Field Analysis. Definition of Force Field Analysis ‘A force field analysis provides an initial view of change problems that need to be tackled, by identifying forces for and against change’ (Johnson, Whittington & Scholes, 2006, p.514). […]

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Barriers to change – factors that resist change

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There are many factors (also called barriers to change) which may resist change initiatives in any organisations. Without a good understanding of those factors, change implementation can be a very difficult task. This mini article will focus on some of the most dominant barriers to change. Employees in an organisation may resist a proposed change for a number of reasons. For example, loss of security, fear of economic loss, loss of power and control, reluctance to change old habits, and selective perception are some of the reasons. Job stability is […]

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How to gain an MBA while working?

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Gaining an MBA (Masters of Business Administration) has numerous benefits. Self-development, self-satisfaction, promotion at work, and social recognition are some of the major benefits of obtaining an MBA. However, it is not an easy task. It requires your commitment and a substantial amount of time. People with both work and family commitments may find doing an MBA course a daunting task. This is why it needs a well-thought out plan. Step 1 A decision must be on the mode of study. An MBA can be pursued by distance learning, campus […]

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Management Training

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Management training is an important area of discussion in HRM. Managers play a number of vital roles in organisations. Managing people, dealing with conflict, communicating both inside and outside the organisations, and making a variety of decisions are some of the responsibilities of managers. Managers need to have a variety of skills and attributes in order to carry out their responsibilities. Many of these skills are not automatically gained and therefore, managers need training. What skills do managers need? Certainly, managers need a wide variety of skills to perform five […]

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Employee training

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Employee training and development is a very important function of human resource management. Organisations must train employees on a continuous basis in order to ensure long-term success of the business. Without appropriate training programs in place, it is difficult for organisations to operate in today’s constantly changing and technology-driven business environment. What is Training? Training is the systematic application of formal processes to impart knowledge and help people acquire the skills necessary for them to perform their jobs satisfactorily (Armstrong, 2012). The purpose of training is not a public relations […]

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Difference between strategic risk and operational risk

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Risk management is a very important topic in both Strategic Management and Operations Management. A business may face different types of risk. Not all risks will have an equal impact on the business. Therefore, it is important for managers to understand different types of risk. Definition of risk A risk usually refers to a situation that could be dangerous or have a bad outcome. It can also be defined as the possibility that something unpleasant will happen (Soanes, 2001). According to Canadian Centre for Occupational Health and Safety (2009), risk […]

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PESTEL analysis – definition of PESTEL analysis

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Last updated June 2016 Organisations need to carry out a situation analysis before making any strategic decisions. PESTEL is one the tools which many strategic planners find useful in situation analysis. It helps analysts understand external factors which may impact on the business. The discussion that follows focuses on what PESTEL analysis is and how it works. Brief history of PESTEL analysis PESTEL is also known as PEST, STEEPLE, SLEPT and PESTLE. It is very difficult to establish the true history of PESTEL analysis. However, according to Mind Tools (2016), […]

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What is corporate strategy?

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Strategies are usually divided into three broad categories, namely corporate strategy, business strategy, and operational strategy. Corporate strategic decisions are taken by the highest level of management in an organisation. This mini article focuses on the concept of corporate strategy along with some examples. Definition of corporate strategy Corporate strategy is the direction a company takes with a view to achieving a long-term business success. According to Johnson, Scholes, and Whittington (2006) corporate level strategy is concerned with the overall scope of an organisation and how value will be added […]

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Research process – steps in research process

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There is no doubt that research is a systematic process. Although different models of research process exist, each containing different numbers of stages, most include the same general elements (Gratton & Jones, 2009). The research process outlined below is a generalized way of carrying out research: Define the problem Specify the objectives Literature review Research Design Methods Sample Timing Costs Data collection and analysis Present findings and conclusion Define the Problem The research process begins with identifying and defining the problems facing the researcher. In fact, there may be many […]

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