The Scientific Management Theory is a theory of management developed by Frederick Taylor. It was first published in 1911, and it has been widely used to describe the organization of work in factories since then. The term "scientific" refers to scient...

Management is the process of directing people to achieve organizational goals. It involves setting objectives, assigning responsibilities, monitoring progress toward those objectives, and evaluating results. Managers are responsible for developing pl...

Quality management is defined as the systematic approach used to ensure that an organization meets its objectives and achieves its goals through the effective implementation of a Quality Management System. Quality management is a strategic tool to ac...

Initially created by Dr. Robert Kaplan and Dr. David Norton at Harvard Business School, the Balanced Scorecard has been used widely to measure business success. Historically, companies measured their success using only short-term financial measures l...

Measurements assist in making decisions and understanding the progress in meeting the strategic and tactical plan.Measurements drive behavior. What gets measured gets done.Organizations must be able to measure their performance in order to improve it...

In this post, we will discuss how changes in technology can have long-term and short-term influences on strategic planning. Technology is an essential part of strategic thinking, but it's not the only thing that affects strategy. There are many other...

The terms "quality" and "grade" are often used interchangeably. In this post, let's understand the difference between these two terms.Difference between Quality and Grade:Quality is an attribute that describes how well something works. It is often me...

Market forces are a significant force in shaping strategies. Examples of market forces include:Existing competitionThe entry of new competitorsRivalry among competitorsThe threat of substitutesBargaining power of buyers and suppliersCurrent economic...

The strategic environmental analysis helps understand how the organization can be affected by internal and external factors, which are then used to develop strategies to mitigate or eliminate their impact on the company's operations.PEST AnalysisThe...

The strategic environmental analysis enables companies to understand their business environment better. It is an ongoing process for identifying all the external and internal factors that may influence organizational performance. It helps organizatio...