Business Management

S.W.O.T. is an acronym: • Strengths • Weaknesses • Opportunities • Threats Basically, it is a management analysis outline based on an imaginary situation. With it, management can plan further...

Continuous Process Improvement (CPI) is a results-oriented goal of most industries and businesses anywhere in the world. Through implementation of an effective CPI program, an organization can...

Forces and trends are two important parts of the economic market system. Forces are economic elements that companies can see but may not be able to control. Trends are business opportunities that...

Even the most rigorous data analysis can lose its impact if presented in an ineffective manner. Good data analysis reporting requires an appropriate format that uses effective visuals and...

SWOT (strengths, weaknesses, opportunities, threats) analysis is a survey of the internal and external environment in which a business or other organization operates. The analysis provides...

Management science (or operations research) utilizes mathematical models, statistics and other computational tools to solve business problems. Choose your technique depending on the sort of...

Companies use market demand analysis to understand how much consumer demand exists for a product or service. This analysis helps management determine if they can successfully enter a market and...

Gap analysis is a useful way to determine the untapped potential of a business's performance. Gap analysis focuses on what the current performance of a business is as opposed to what the market...

Gap analysis is a business management method of investigating the intentions of a business versus the reality of the business. If a business intends to sell a product to a group of people over...

In today's competitive business environment it is essential that companies conduct business in ways other than using traditional business methods. This requires that the management involved in...

Auditors need computer assisted audit tools and techniques (CAATT) to enhance capabilities and productivity. Many such tools and techniques can be implemented at minimal cost and relative ease,...

If you're in business, you know that business is all about sales and marketing. Like anything else, measuring sales is the first step to making significant improvements, but what comes next? Gap...

A SWOT analysis is a tool to determine project strategy. A SWOT analysis of software can be vital in helping to determine how the software will be developed, what its function will be, what...

Every good business needs a strong financial plan. A financial plan helps a business determine and prepare for its future. A financial plan can also keep a business away from potential financial...

A market multiples analysis is a financial modeling method of assigning a value to assets or to a business. Market multiples analysis is also referred to as direct comparison analysis or...

Increasingly, the trend in business and organizational management is decision-making based on solid data analysis. This means organizations need reliable data analysis and decision tools....

Program planning, a crucial activity for any organization or agency, involves identifying needs, setting priorities, planning for effective service delivery and evaluating outcomes. Economic...

Business research is an important management activity that helps companies determine which products will be most profitable for companies to produce. Several steps are necessary when conducting...

Perform a gap analysis and discover the potential that can be unlocked in an enterprise. Augment the analysis using risk mitigation to determine the areas of operation that are cause for concern....

Gross profit margin is a financial analysis ratio that is used to measure and analyze a company's performance. Using a company's revenue and cost of goods sold, an analysis of product pricing can...

Analyzing the strengths, weaknesses, opportunities and threats---the SWOT---facing your library is an important part of strategic planning, which is vital to the continued success of libraries of...

SWOT analysis assesses a project's strengths, weaknesses, opportunities and threats to identify the factors that impact its outcome. Techniques for quantifying strengths and weaknesses include...

A balance sheet is a financial statement that lists a business' assets, liabilities, and equity. Financial statements can be analyzed either vertically or horizontally. Horizontal analysis is...

Managerial economics, also known as business economics, bridges microeconomic theory and applications with management and decision sciences. By using both these disciplines, managerial economics...

Performance gap analysis, often shortened to "gap analysis," examines particular aspects of business for problems and suggests solutions for these problems. It is a diagnosis-oriented analysis...

A management accounting system collects financial data from business operations such as sales data, shifts in inventory and changes in raw materials costs, then converts the information to...

Project management is the process by which a business defines, produces and distributes a new product. The earliest known examples of project management were documented during the Industrial...

Management accounting information is focused at internal managers and decision makers. Its intended use is to provide financial data relevant to a manager's operations in an effort to make sound...

Strategic policy analysis is a vital part of the strategic planning process for organizations large and small. The analysis process enables corporations, public and private agencies and other...

A gap analysis is a basic business tool in document format used for examining a business situation in the context of business goals. A gap analysis allows a business to compare the actual state of...

Risk management is not about eliminating risk. It is about identifying what negative events may occur and integrating that knowledge into your decision making. The best time to begin risk...

Microeconomic analysis attempts to explain the behavior of individuals and organizations in a given economy. Before being able to understand macroeconomics, or national and global trends for...

As competency analysis has become a concept highly touted in business, it has become increasingly misunderstood. Contrary to many articles on the subject, competency analysis does not focus on...

Almost anyone who makes an investment expects a return at some point. For example, one who invests in an education may be doing so to have a good job in the future. In business, an investor who...

TOWS stands for "threats, opportunities, weaknesses, and strengths." It is a method of analyzing situations based on the popular SWOT method of analysis ("strengths, weaknesses, opportunities,...

Strategic management involves making decisions that enable an institution to achieve its objectives. A company mission statement defines how business operations are conducted to achieve the...

Operation research theory is an area of mathematics that studies optimization and minimization of processes. It is widely used in industries for many types of improvements (such as efficiency) in...

Using both primary and secondary forms of research methods, the organization is able to establish unstructured and structured data for analysis. Primary forms of data collection include surveys,...

Have you ever wished you could afford to have a consultant look at your small business and tell what you need to grow it? Many feel that way. Others may feel that all those statistics and analysis...

A manager is a planner and a strategist. The modern world presents an uncertain and fast-changing environment where constant planning and strategy must take place in order to stay on top. Various...

Management, by its very nature, is not set up for quantitative analysis as it involves people and people are hard to measure in objective terms. Qualitative research goes just so far in helping...

Productivity is affected by a variety of factors, from the equipment used to the attitude of the employees to the quality of the materials. Improving productivity requires that factors such as...

Gap analysis is an easy and versatile tool that can be used by any business, regardless of size, location or industry. A type of brainstorming framework, gap analysis has the capability to...

Environmental analysis is relatively qualitative and involves the identification of and analysis of environmental variables, which affect the business. Some frameworks of environmental analysis...

PEST analysis is a useful tool for any business. Easy to use and understand, PEST analysis provides a methodology for critically examining the external factors that may affect the business itself,...

Steps in corporate planning and its successor---strategic management---pose a series of questions. Some look at how well a firm's current internal structure aligns with external realities, such as...

Economics studies the allocation of scarce resources, including money, labor, and materials, among competing needs and wants. Spatial economic analysis examines how these resources are distributed...

Corporate strategy defines which areas of the industry a company competes in. Business strategy defines how it competes to gain and maintain a competitive edge. Effective strategic planning...

A SWOT (strengths, weaknesses, opportunities, threats) analysis allows a company to evaluate their operations from an internal and external point of view. The company examines their strengths and...

Conduct a gap analysis to compare actual performance with desired performance. This analysis technique first involves observing and documenting current activity. This establishes a benchmark,...