Tag: Management
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The 5 Determinants of Demand: What Drives Consumer Behavior?
Demand is the quantity of a good or service people want to buy at a given price. If you are in business development, sales, marketing, and other related areas, understanding the shifters of demand is one of your most important success factors. In this article, we will discuss the five determinants of demand and how…
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What is a Hostile Takeover, and How Does It Work
A hostile acquisition is an attempt by one company to take over another company against the will of the target company’s board of directors. This article will cover everything you need to know about hostile takeovers: what they are, how they work, and what it means for individual investors. What is a Hostile Takeover? The…
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Resistance to Change: Types, Causes, & How to Minimize
Resistance to change is a natural human reaction to anything new. It can be seen at an individual level (resistance to personal change) or at an organizational level (resistance to change in work). As a manager, you need to understand resistance to change and know how to minimize it to achieve the organization’s objectives. In…
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How to Make a Profit and Loss (P&L) Statement
Not a lot of small business owners really pay much attention to accounting. But learning the basic principles of accounting can be the key differentiator between a company that is successful and one that is not. P&L, the Profit and Loss Statement is a basic accounting report for any type of business. In that light,…
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3 Key Skills and 4 Major Functions of Management
Management is a process where resources are input and profit is the desired output. Managers are the people who supervise the resources to achieve organizational objectives. Every manager performs four major functions of management. The performance of managers depends on three key skills. Three Levels of Managers There are three levels of managers. Those are:…