Research – definition of research

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Definition of research ‘Research is a systematic process of discovery and advancement of human knowledge’ (Gratton & Jones, 2009, p.4). According to Theodorson and Theodorson (1969) research refers to any honest attempt to study a problem systematically or to add to man’s knowledge of a problem. Based on the definitions above, there are few characteristics of research. Firstly, research is a systematic (stage by stage) process. Researchers must follow an appropriate process in order to conduct research which is valid. Secondly, any research is to study a problem. What is […]

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Skills and qualities of a good leader

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Last updated June 2016 Leading people is not an easy task. And not necessarily everyone would be considered a leader. So, what makes a person a leader is a question of analysis. A leader must possess certain skills and qualities. The list of leadership skills and qualities is big; however, this article will focus on a few as follows: Conceptual skills Capacity to inspire others Courage Technical Knowledge Responsibility Integrity Excellent communication skills Loyalty Problem solving ability Intelligence Honesty Empathy Leading by examples Most of the skills and qualities listed […]

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Organisational behaviour – definition and importance

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Organisational behaviour is a very important subject in business management. It is an essential tool to manage teams at work effectively. It also helps managers understand and predict employee behaviour in an organisation. Definition of organisational behaviour Organisational behaviour (OB) is the ‘study of the structure, functioning, and performance of organisations, and the behaviour of groups and individuals within them’ (Pugh, 1971, P.9). According to Moorhead & Griffin (1995) it is the study of human behaviour in organisational settings, the interface between human behaviour and the organisation  itself. Why study […]

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Just-in-time – definition and benefits of just-in-time

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Definition of Just-in-time Just-in-time (JIT) refers to everything happening just in time. As a concept, it is easy to understand; however, implementing it in practice is a different thing. According to Toyota (2016), Just-in-time means making only what is needed, when it is needed, and in the amount needed. It is a philosophy of complete elimination of waste. According to Beasley (n.d), Just-in-time originated in Japan. Toyota motor company started using this method in the 1970s. JIT was initially known as the ‘Toyota Production System’. Many people regard Taiichi Ohno […]

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What is business process?

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Business process refers to a standardized set of activities that accomplish a specific task, such as processing a customer’s order (Baltzan & Philips, 2009). It converts a set of inputs into a set of outputs (goods or services). Examples of business process Business process can be easily understood by examples. Each organisation has its own distinctive process. Let us consider the process of depositing money at Barclays and many other banks in the UK. Once the customer is at the branch, she/he has two options to deposit money/cheque. The customer […]

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Segmentation – definition and importance

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Segmentation is a very important topic in marketing. Marketing is a process which usually consists of four  major elements namely situation analysis, marketing strategy, marketing mix decisions, and implementation & control. Segmentation is one of the elements in marketing strategy. Definition of segmentation According to Kotler (1994), segmentation refers to the subdividing of a market into distinct and increasingly homogeneous subgroups of customers, where any subgroup can conceivably be selected as a target market to be met with a distinct market. It is the process of defining and subdividing a […]

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Human resource management – definition and importance

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Human Resource Management (HRM) is about managing human resources in an organisation. Human resources need to be managed appropriately. As a subject of academic studies, HRM emphasises on a number of issues such as organisational design, human resource planning, performance management, employee relations and HR services. Definition of Human Resource Management Human Resource Management refers a ‘strategic approach to managing employment relations which emphasises that leveraging people’s capabilities is critical to achieving sustainable competitive advantage, this being achieved through a distinctive set of integrated employment policies, programmes and practices’ (Bratton […]

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Merger and Acquisition

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Merger and acquisition are usually used by companies in order to bring about quick growth. According to Armstrong (2014) global mergers and acquisitions activity reached $3.5 trillion (£2.25 trillion) in 2014. However, merger and acquisition are high-risk strategies. Definition of merger and acquisition Both merger and acquisition are heavily used in academia and in corporate world. Sometimes, these two terms are used interchangeably. However, there are some differences which exist between the two. A merger is the combination of two previously separate organisations, typically as more or less equal partners (Johnson, Whittington […]

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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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