What are Management Theories? Management theories are concepts surrounding recommended management strategies, which may include tools such as frameworks and guidelines that can be implemented in modern organizations. Generally, professionals will not rely solely on one management theory alone, but instead, introduce several concepts from different management theories that best suit their workforce and company culture. At … Continue reading What’s your preferred management theory?
Managers have some tasks that they need to do, but their primary job is to make sure that others are doing what they have been assigned to accomplish the mission and goals of the organization. Effective managers know what responsibilities to delegate to allow themselves time to plan, to collaborate with others in the organization, … Continue reading How managers can delegate effectively to develop employees
You may have a gut feeling that your business is humming along smoothly — and you might be spot on. But there is no substitute for concrete numbers when it comes to measuring your business’ financial health. That’s where financial KPIs — key performance indicators — come in. KPI is a blanket term for the types … Continue reading How to grow your business with Key Performance Indicators (KPIs)
For many reasons, consumer behavior is crucial in business management. From the marketing perspective, a good understanding of consumer behavior is required for effective business analysis and forecast that correctly identifies why consumers prefer a particular product, service or brand in a highly competitive market. According to Antonides and Van Raaij (1998), consumers’ purchasing habits are … Continue reading Consumer behavior and other concepts in marketing management