These five Ps describe what makes up a successful strategy. These elements are interrelated and interdependent. They interact with each other to create the context within which strategies are implemented.1. Strategy as a Plan: The first element is a...

What is Strategy?The term strategy has been used in business for over 100 years. It is a way of thinking about the future and planning how to achieve it. A good strategy will help you make decisions based on your long-term goals and objectives. The s...

What is a Team?Team: A group of people working together toward a common goal. Each member contributes unique skills, knowledge, talents, abilities and experiences that help the team achieve its objective. The members share responsibility for the achi...

Theory of Constraints (TOC) views every business as having limits imposed upon them by things like time, resources, market conditions, etc., which constrain their ability to achieve more than they already have achieved. TOC uses a focused process to...

Define "job enrichment" and "job enlargement."Job enrichment is a process in which an individual's skills, knowledge, or abilities are increased through learning new things. It is also called vertical expansion. Job enrichment refers to making jobs m...

Negotiation involves two or more people talking together to reach an agreement. In this post on Negotiation Techniques, we will look at one of the most common negotiation models - the RADPAC Model. It's often used in business because it provides a st...

Socratic questioning is a method of teaching in which the teacher asks questions and students answer. The teacher does not give answers but rather encourages discussion among the class members, often asking follow-up questions to encourage further ex...

What is Critical Thinking?Critical thinking is an intellectual discipline that involves actively seeking out alternative points of view, evaluating them critically, and then making decisions based on the best available evidence. It involves using all...

A manager is responsible for directing and coordinating activities within an organization. A leader is someone who inspires others by example.Manager:• Responsible for the overall performance of a group or department • Has authority to hire, fire, pr...

Management positions are responsible for the overall operation of a business. Typically, managers have responsibility for one or more of the following areas: product development, production, marketing and sales, personnel management, finance, human r...