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...roducts and services. Organization's environment includes all the elements of the direct and indirect impact outside it which are relevant to its functio ==Types of business environment==

...sions in the business world, since it can significantly affect the success of a [[product]], [[service]], or [[organization]]. This environment can be broken down into several components:

'''Emergent [[strategy]]''' is a business approach that is evolved over time as a response to changing [[market]] con The main elements of emergent strategy include:

'''Clusters''' are geographic concentrations of interconnected companies, specialized suppliers, services, companies operat ...results in the division of labour and the creation of specialized factors of [[production]].

...multi-faceted and complex set of factors, depending on the characteristics of the project, such as: * [[cost]] of the project,

...al environment to identify any changes that could affect the effectiveness of existing strategies. Based on this analysis, strategy maintenance may invol ==Example of strategy maintenance==

...ic context, the contingency approach relies on four main components: the [[environment]], the organization, the leader, and the [[technology]]. ...implement different strategies than a company operating in a more relaxed environment.

...ible and efficient way, as well as to leverage the collective intelligence of the agents within the system. ==Example of complex adaptive system==

...uals and teams [[work]] together and get things done. To ensure successful business operations, it is essential to understand the role emotions can play in you ...and respond in a given context. As a manager, it is important to be aware of these emotions and how they shape the atmosphere in your [[company]].

.... It is an important tool for managers to understand the global business [[environment]] and make informed decisions. ==Example of international business research==

...s can be undertaken. The goal of a Technology Park is to provide the right environment and incentives for technology-based companies to grow and succeed. The core elements of a Technology Park include:

Strategic [[marketing]] is a [[process]] consisting of: ...analysis]] of the [[environment]], [[competition]] and factors shaping the business units

...a sustainable, responsible approach to tourism that minimizes harm to the environment, local communities, and culture. ==Example of negative tourism impacts==

...e requires resolving the situation within the company in relation to the [[environment]], careful [[planning]] and [[decision making]]. The success of anti-crisis measures is dependent on many different factors, among which th

...ers [[creativity]] and new ideas, encourages collaboration and the sharing of different perspectives, and can ultimately lead to better decision-making, ==Example of types of diversity==

...ating an [[environment]] of inclusion and respect for everyone, regardless of differences. This can bring fresh perspectives and different experiences to ...to measure the levels of diversity in their organization. Different levels of diversity can be identified, such as gender, racial, or ethnic diversity.

...the creditworthiness of counterparties. It is often claimed that this type of risk includes everything that is not classified as other risks. ==Sources of risk==

Scenario is an expected picture of the situation in the future. Scenarios created for enterprises represent th ...w you to provide various types of phenomena that can occur in a changing [[environment]], which will help prepare them.

...s, such as companies and governments. Rating agencies evaluate the ability of a borrower to meet its financial obligations, including [[bond]] payments. ==Example of Rating agency==

...sment of the organization's impact, and a focus on the long-term interests of [[stakeholders]]. ==Example of corporate social performance==

...the processes and tools used to make them. The main types of decisions in business are strategic, tactical, operational, and financial. ...ting. An important feature of this division is to emphasize the importance of decisions made by the individual managers.

...ages [[creativity]] and problem-solving. Intellectual diversity fosters an environment where everyone feels valued, respected, and accepted. ==Example of intellectual diversity==

...ty to think beyond the norm, to think in unconventional ways and break out of traditional thought patterns. ...ure of [[innovation]] and collaboration. They [[need]] to provide a safe [[environment]] for their team to express their ideas and be open to new solutions. They

...ting objectives and strategies, and developing and implementing a [[plan]] of action. ==Example of Planning process==

...ing [[relationships with customers]], as it helps to create an environment of mutual respect and understanding. ...ding '''organizational trust, interpersonal trust, [[customer]] trust, and business partner trust'''. It is important to understand each type and how they can

...ors. The theory of innovation emphasizes the importance of developing an [[environment]] that encourages [[creativity]] and innovation, as well as understanding t ==Example of theory of innovation==

...s. Strategic agility requires an organization to have a deep understanding of the current market, trends, and the [[capability]] to quickly react and adj * '''Resilience''': The ability to maintain a competitive edge in the face of change.

...ion and care are both expressions of empathy that involve an understanding of the other person's feelings and a desire to help them. ...re help to create a collaborative [[work]] atmosphere and foster a [[sense of belonging]], which leads to increased productivity and better results.

...e promotion of the company, and the image is often perceived as the effect of Public Relations activities. ==Types of company image==

...and interests, providing opportunities for growth, and creating a [[sense of community]] in the workplace. ==Example of motivation at work==

...gement]] perspective, economic shock can cause significant disruption to a business’s operations, as it can lead to a decrease in [[demand]], a decrease in p ==Example of economic shock==

...tial of internationalization, companies must develop the right combination of strategies and tactics, such as global branding, international market segme ==When to use process of internationalization==

...ative impact on productivity and morale, as well as on the overall success of the organization. ==Example of silo mentality==

Decentralization is the [[process]] of transferring decision-making powers down the organizational [[hierarchy]], ...s down the ladder. Is an expression of confidence in relation to the skill of lower-ranking managers and staff.

...te changes in the [[market]] [[environment]]. This can be due to a variety of factors, including: ...s, so they may choose to stick with the same prices even when the [[market environment]] changes.

...of the variation and determine its impact on the overall [[system]]. Cause of variation analysis can help managers determine if the variation is due to n ==Example of cause of variation==

There are many '''factors affecting business''' described in literature and examined during [[strategic management proce ...ctors affecting business''' or so called '''external factors of [[business environment]]'''

...e equitable and diverse [[workforce]], and the importance of creating an [[environment]] where everyone can thrive. ==Example of shattering glass ceilings==

...ructure shows how each division of a business is set up, the [[hierarchy]] of who reports to whom and how [[communication]] flows throughout the organiza ==Types of Organizational Systems==There are four main types of organizational structures===Functional organizational structure===

...ccess to physical and mental health resources, and creating a supportive [[environment]] where employees can reach their full potential. Additionally, by promotin ==Example of health and wellbeing==

...nd the sustainability of economic welfare. It also stresses the importance of policies that help to ensure that the economy runs at its full potential. ==Example of new keynesian economics==

...te realistic scenarios and to allow participants to experiment and develop business strategies. ==Example of business simulation game==

...imately, the goal of organizational learning theory is to foster a culture of change, [[creativity]] and [[continuous improvement]]. ==Example of organizational learning theory==

...sful and profitable business. SRB involves looking at the long-term impact of decisions, rather than just the short-term gains, as well as considering al ==Example of socially responsible business==

...technologies in order to make them more efficient or effective. '''Drivers of innovation''' can be divided into two categories: internal and external dri ...an organization’s control, such as changes in the political or economic [[environment]], [[customer]] demands, or technological advances.

...[[profit]]s of the [[company]]), as well as to protect and multiplication of [[social welfare]] ...business in creating social welfare. [[Business ethics]] is important part of corporate social responsibility]]

...members to connect, learn, and grow in their field of expertise. Community of practice can be used in organizations to facilitate collective learning, en ==Example of communities of practice==

...desired future state. Strategy also involves monitoring and [[evaluation]] of progress, as well as responding to changing conditions. ==Example of strategy of the organization==

...unt of capital to get started. Micro-enterprises can be found in a variety of industries, including retail, food and beverage, transportation, constructi ...]]. As the business is small, the overhead costs are minimal, and the risk of losses is minimized. Micro-enterprises also provide entrepreneurs with an o

...tand the behavior of employees in a [[workplace]], as well as the behavior of customers in a retail setting. ==Example of social influence theory==

...an individual or group that is significantly affected by the actions of a business or [[organization]], and has an [[interest]] in its success and operations. ...ion, and are typically the ones who have the most to gain or lose from the business's decisions and performance.

...trategy to ensure it remains on track. It requires clear [[communication]] of the strategy to all personnel, as well as establishing the necessary system ==Example of execution of strategy==

...riods with prior periods, without taking into account the changes in the [[environment]] and other forces that could have influenced the results. For example, if ==Example of base effect==

...] techniques, to operational processes and procedures. The core principles of management theory can be broken down into four main categories: [[planning] ...nd objectives]] and determining how to achieve them. It is the [[process]] of deciding what [[needs]] to be done, when it needs to be done, and who will

...-way street, with the organization providing a supportive and productive [[environment]] that meets the employee's [[needs]]. ==Example of organisational commitment==

...on of new products, tendency to take risks and work after hours, dominance of informal and direct contacts, uncontrollable costs may occur, problems with ==The elements of an innovative culture==

...e process of business communication impacts on outperforming in [[business environment]] (N. Gopal 2009, p. 3). ==Division of business communication into types==

...potential solutions to any current or future problems. Ultimately, a lack of information can create significant difficulties in achieving [[organization ==Example of lack of information==

...mong employees and [[management]]. Business communication involves the use of written, oral and visual communication methods. It is essential for effecti ==Example of business communication process==

...of Business Processes''' is one of the forms of improving the functioning of an [[enterprise]], which is based on<ref>Snee,R.D.(2004)</ref>: * defining the [[strategic goals]] of the [[company]]

...a business to remain competitive and successful. Companies must stay ahead of the [[competition]] and be open to change in order to remain relevant in th ...omer]] demands, [[technology]] and the economy. This helps them stay ahead of the competition by embracing the latest trends and technologies.

...success or failure of an [[organization]], and they provide an indication of the direction a company should take in order to stay competitive. They can ==Example of business driver==

...[[core values]] and mission statements that provide employees with a sense of purpose and direction. ==Example of values and beliefs==

...spective markets. The concept of strategic fit is also used in the context of [[mergers and acquisitions]], where it is used to assess the compatibility ==Example of strategic fit==

...involves analyzing the data and interpreting the results to draw valuable business insights. ...of improvement, and inform decisions. Some of the most common applications of data collection processes include:

...final [[consumer]], but are instead used in the [[production]] [[process]] of other goods. Intermediate goods are a vital part of the [[production process]], and are essential for creating the goods and se

...ate. Legal factors are closely associated with [[ethical factors affecting business]]. ...operates, and can have a significant impact on the financial aspects of a business.

...n of areas where improvements can be made. An environmental audit consists of four main components: ...eloping recommendations for improvement''': This includes developing a set of recommendations to help the organization improve its environmental performa

...tion]] prior to the implementation of any internal control. It is the risk of loss due to internal factors, such as [[employee]] error or fraud, or exter Inherent risk can be caused by a variety of factors, including:

...the competition.Organizational change is every change taking place in our environment.However, it must be remembered that implementing the change alone is not en ...heir qualifications during the process, which, however, increases the time of change but also increases productivity and [[innovation]].

...ingful [[relationships with customers]] and creating a positive [[work]] [[environment]]. Trust in a [[company]] is a measure of how much employees and customers believe in the company's goals, values, an

...cted to a visual indicator such as a light or sign that alerts supervisors of the issue. In addition to this, some andon cords are connected to computers ==Example of andon cord==

...ctive part in its implementation) or are directly concerned by the results of it. Stakeholders can exert influence on the [[organization]]. ==Types of stakeholders==

...onment]]. It is a type of lateral thinking that seeks to broaden the range of ideas and perspectives available for consideration. It is commonly used in ==Example of parallel thinking==

==Subject of tax strategy== The subject of tax strategies of company are expenses resulting from having to pay the tax burden and to kee

...T analysis]], Porter's Five Forces, and the Balanced Scorecard. The choice of model will depend on the [[organization]]'s specific [[needs]] and goals. ...unctional [[information]]''' and feedback indicating the '''dynamic nature of strategic [[management]]''' in the [[enterprise]].

...eign investor assumes some degree of ownership and control in the domestic business, which can lead to greater economic growth and job creation. ==Example of direct foreign investment==

'''Sustainable [[project]] [[management]]''' is a [[process]] of managing a project and its resources to ensure that it meets its goals whil ...takeholders]], the [[environment]], and the community. It involves the use of sustainable practices throughout the [[project life cycle]], from [[plannin

...ckground come together in a population or [[organization]]. This diversity of culture, ideas, and experiences can be a powerful asset for any organizatio ...ementing anti-discrimination measures, organizations can create a [[work]] environment where employees feel safe and comfortable.

...tential to develop one. The model can also be used to assess the resources of potential competitors. By doing so, managers can identify threats and oppor ==Example of VRIO model==

...a stable macroeconomic [[environment]]. These policies can include the use of fiscal, monetary, and trade policies to achieve the desired economic outcom ...ow countries to diversify their economic activities, reducing the [[risk]] of economic shocks and providing more opportunities for growth and development

...ortable hotel travelling around country. QWL is an idea of creating work [[environment]] as friendly as possible(Inda S.S. 2013, p. 1-24). ==Functions of Quality of Worklife==

Every business understands the importance of [[communication]]. Whether it’s internal or external, communication is th '''[[Internal communication]]''' is the exchange of [[information]] within the [[organization]]. This includes employees, depar

...t is important for [[project]] managers to identify and address the causes of productivity loss in order to maximize efficiency and increase output. ==Example of loss of productivity==

...nge in unexpected, negative direction without connection to the activities of the company. ...ign of threat and take protective and preventive measures before the onset of their negative effects.

...recognizing and rewarding employees, managers can create a positive work [[environment]] that encourages employees to continue to give their best effort and striv ==Example of recognition and reward==

...tivate their employees to achieve their desired goals. There are two types of rewards: intrinsic and extrinsic. ...rent to the job itself, such as job satisfaction, recognition, and feeling of accomplishment. Intrinsic rewards are powerful motivators that can be used

...anizational solution characteristic in the industrial era in the direction of the network structure. ...from both inside and outside the organization, they in turn, are a source of additional benefits.

...it can be concluded that the company most likely adheres to the principles of ethics (A. Fernando 2010, p. 1.5). ...iness is an ethical business"''. A business that does not follow the rules of ethics will probably collapse after some time (A. Fernando 2010, p. 1.5).

...ration for investors, as it can have an outsized impact on the performance of an individual security or company. As such, investors must take extra care ==Example of idiosyncratic risk==

...a framework for evaluating the potential returns and risks associated with business decisions. It is based on the company's values and [[risk management]] [[st ==Example of risk appetite statement==

...ure and turn-over of goods are not statistically evidenced. Characteristic of this activity is that it is unregulated, hence it is not included in the GD Major reason for the existence of informal sector:

...ation’s ability to attract and retain talent, create a positive [[work]] [[environment]], and build successful relationships with [[stakeholders]]. ...vironment]]. It is also important for managers to recognize the importance of creating an organizational culture that is unique and differentiates the co

...L. Cooper proposed a taxonomy of agents of change, including the following types: * Generators of change (their goal is to provoke a sense of the [[need]] for change in the community), including:

...king]]''' is the process of selecting from a set of alternatives. The goal of both planning and decision making is to maximize [[efficiency]] and effecti ...used in different scenarios. These can be used to weigh the pros and cons of each alternative and arrive at the best possible decision.

...also increase. Similarly, if the number of employees decreases, the sales of the company may also decrease. Positive correlation can be used in manageme ==Example of positive correlation==

...pe of risks usually applies to a larger group of people and the difficulty of anticipation is associated with a lower incidence. An example of such risk may be technological changes related to the launch of a better [[quality]] [[product]] at a lower [[price]], which will result in

...ethods predict different types of phenomena that can occur in a changing [[environment]] and help managers in preparing for them. ...f various factors influencing the [[company]], its trends and the capacity of the [[enterprise]] to adapt to them.

...elationships that can be specified in the [[company]] and setting for each of these gaps adequate strategy. ==Types of gaps in strategic management==

...any]] [[need]] to put in it. This can include assets, salaries or purchase of materials and more. Proper investment can give in potential returns in the Linear '''[[process]] of [[innovation]]''' distinguishes following stages: