Foreign Direct Investment

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There is no doubt that countries need investment for economic growth and prosperity. Therefore, we see governments around the world attempting to provide various incentives to foreign investors. This article touches briefly on Foreign Direct Investment (FDI) and identifies some popular destinations for FDI. Definition of FDI According to Hill (2012) foreign direct investment (FDI) takes place when a company invests directly in facilities to manufacture or market a product in an overseas country. According to the U.S. Department of Commerce (cited in Hill, 2012), FDI takes place when a […]

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What is globalisation?

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Last updated June 2016 Globalisation is a widely discussed topic. It has raised interest in academic, political and social circles over the years. Many businesses benefit from globalisation, while public resentment towards globalisation has also been seen in some countries. Globalisation has created numerous opportunities for people and business. However, it has its own challenges as well. Academics have defined globalisation in different ways considering different perspectives. According to Stonehouse et al (2004), globalization refers to increasingly global nature of markets, the tendency for transnational businesses to configure their business […]

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5 factors which affect buyer behaviour

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Last updated June 2016 There is no doubt that a number of factors may affect the buying decision of a customer. It is very important for marketing managers to understand how these factors work and impact on the decision-making of a customer. Why does a customer buy some particular products? Why does he/she prefer one product to another? A study of some factors will help the readers find answers to these questions. As mentioned above, there are a number of factors that will impact on a customer’s buying decision. However, […]

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Consumer buying behaviour process

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What is consumer buying behaviour? According to Kotler et al (2009), consumer behaviour is the study of how individuals or groups buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants. Consumer behaviour can be divided into two types: high-involvement behaviour and low-involvement behaviour. High-involvement behaviour is also called complex buying behaviour. Customers sometimes spend a lot of time to make a decision to buy a product/service. They become heavily involved in the purchasing process. This involvement is called high-involvement or complex buying behaviour. […]

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What is consumer behaviour?

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Definition of consumer behaviour Consumer behaviour is defined as ‘the acts of individuals directly involved in obtaining and using economic products and services, including the decision processes that precede and determine theses acts’ (Lancaster and Reynolds, 2004, p.50). According to Kotler et al (2009), consumer behaviour is the study of how individuals or groups buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants. Consumer behaviour is about how consumers buy and use products and services in order to satisfy their desires. No doubt […]

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Kotter’s 8-Step Change Model

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Last updated June 2016   What is Kotter’s 8-step change model? John Paul Kotter, a Harvard professor, developed an 8-step change model in 1995. This model has been discussed in two of his books called ‘Leading Change’ and ‘The Heart of Change’ (Chapman, 2014). The eight steps of the model have been summarized below: Create urgency Importance for the implementation of the change needs to be highlighted so that people will be motivated to accept and participate in the implementation of the change. Form a powerful coalition Right people with […]

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How to implement a change?

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Last updated June 2016 Change is any alteration in the work environment. Every individual and organisation experiences it (Plunkett & Attner, 1994). Change is sometimes very difficult to manage. Therefore, enough time and effort need to be put in place to manage it. Considering change a process may be useful. How to implement a change? In order to implement a program of change, a manager must be aware of why people resist change, why alteration efforts fail, and what techniques can be used to successfully modify behaviour (Plunkett & Attner, […]

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How to be a good team player?

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Last updated June 2016 Team working is an important aspect of a modern day business. Employers look for people with good team working skills who can effectively contribute to the achievement of organisational objectives. Many employers focus more on team working skills than the degree grade achieved by the job applicants. However, not everyone is a good team player. In this article, we will show how you can be a good team player. Definition of a team Some people think that a team is simply a group of people. Well, […]

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5 causes of poor employee performance

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Last updated: June 2016 Dealing with poor employee performance is perhaps the least favorite part of a manager’s job. Poor performance is detrimental to both employees and organisations. Therefore, it is important to diagnose the root causes of poor performance so that corrective steps can be taken. Five causes of poor employee performance There are many reasons which may impact on employee performance. However, this article will address five only. The five causes are as follows: Lack of job control Employees’ lack of control over their tasks may affect the […]

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How to write a business plan?

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What is a business plan? A business plan is an essential tool for anyone wishing to start a business. It is a document that describes what you plan to do and how plan to achieve it. You should not start a business without a sound and effective business plan as it is a document which will guide you every step of the way. Likewise, banks and investors will not consider financing your business without a business plan. In short, a business plan is a description of the future of your […]

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