All the Business Acronyms You Need to Know

Open the New York Times or browse around the Internet for 30 minutes and I am sure that you will come across several business acronyms. Not knowing what they mean can be quite annoying. That is the purpose of the list below; to provide a quick reference to the most common used acronyms so you … Continue reading All the Business Acronyms You Need to Know

On Life and Death, of Companies

We all accept that humans are born and die. Actually this is one of the very few things we accept for sure. Why, then, should people create a different belief regarding companies and organizations? The famous “Built to Last!” moto… Why? Why can’t companies just be conceived, do what they have to do (with excellence, … Continue reading On Life and Death, of Companies

Scientific Management On the Rise?

BusinessWeek has an interesting article by Roger Martin, where he questions some of the trends proposed by the consulting firm McKinsey. More specifically the article criticizes McKinsey’s views about Scientific Management. Quoting Mckinsey: “Management will go from art to science. Bigger, more complex companies demand new tools to run and manage them. Indeed, improved technology … Continue reading Scientific Management On the Rise?

Process Theories of Motivation

Innovation oftentimes happens through teams both in the workplace and in projects. Therefore, I wanted to take a minute and discuss different motivation theories that might be helpful in examining exactly what it will take for your team to succeed. Process Theories of Motivation: Needs-Goal Theory – Motivation begins with an individual feeling a need. … Continue reading Process Theories of Motivation

Contingency Planning

A basic premise of good strategic management is that firms plan ways to deal with unfavorable and favorable events before they occur.  The key is developing contingency plans for the positive and negative effects of business, not just the negative ones. Some contingency plans that a firm could establish are as follows: If a major … Continue reading Contingency Planning

Horizontal Integration

Horizontal integration refers to a strategy of seeking ownership of or increased control over a firm’s competitors.  One of the most significant trends in strategic management today is the increased use of horizontal integration as a growth strategy. Mergers, acquisitions, and takeovers among competitors allow for increased economies of scale and enhanced transfer of resources … Continue reading Horizontal Integration

Leadership Traits

Many corporations today use the controversial Myers-Briggs Type Indicator personality test, based on the work of psychologist Carl Jung, to label managers on four dimensions – as extroverts or introverts, thinkers or feelers, sensors or intuitors, and judges or perceivers. The current research on leadership traits suggests that some factors do help differentiate leaders from … Continue reading Leadership Traits