SWOT Analysis

What is a SWOT Analysis? A SWOT Analysis is one of most commonly used tools to assess the internal and external environments of a company and is part of a company’s strategic planning process. In addition, a SWOT analysis can be done for a product, place, industry, or person. A SWOT analysis helps with both…

PEST Analysis

What is PEST Analysis? PEST Analysis is a strategic framework used to evaluate the external environment for a business by breaking down the opportunities and threats into Political, Economic, Social and Technological factors. PEST analysis can be an effective framework to use in Corporate Strategy Planning, useful in identifying the pros and cons of Business Strategy. Below…

Emotional Intelligence

What is Emotional Intelligence? Emotional Intelligence (EI), also known as Emotional Quotient (EQ), is the ability to manage one’s emotions and the emotions of others. The term emotional intelligence first appeared in a 1964 paper by Michael Beldoch and gained popularity in 1995 in a book written by science journalist Daniel Goleman. Today, emotional intelligence…

Interpersonal Intelligence

What is Interpersonal Intelligence? Interpersonal intelligence refers to the ability of a person to relate well with people and manage relationships. It enables people to understand the needs and motivations of those around them, which helps strengthen their overall influence. People with interpersonal intelligence seem to stand out in a crowd as people with lots of…

Leadership Theories

What are Leadership Theories? Leadership theories are schools of thought brought forward to explain how and why certain individuals become leaders. The theories emphasize the traits and behaviors that individuals can adopt to boost their own leadership abilities. Early studies on the psychology of leadership pointed to the fact that leadership skills are inherent abilities…

Management Theories

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…

Strategic Management

What is Strategic Management? Strategic management is the formulation and implementation of the major objectives and projects, by an organization’s management on behalf of its shareholders (or owners). Typically the formulation process starts with an assessment of available resources, an industry analysis to asses the competitive environment in which the company operates, and an internal operations…

backward integration

Backward Integration

What is Backward Integration? Backward integration is a process in which a company acquires or merges with other businesses that supply raw materials needed in the production of the finished product. Businesses pursue backward integration with the expectation that the process will result in cost savings, increased revenues, and improved efficiency in the production process.…

Bargaining Power of Suppliers

What is Bargaining Power of Suppliers? The Bargaining Power of Suppliers, one of the forces in Porter’s Five Forces Industry Analysis Framework, is the mirror image of the bargaining power of buyers and refers to the pressure suppliers can put on companies by raising their prices, lowering their quality, or reducing the availability of their…