Month: February 2022

It is important that a business organization defines clearly its industry, which is an OUTPUT concept and its markets, which is a DEMAND concept. An industry is a group of firms producing the same principal product. A market is a Read More …

Factors in the remote environment The remote environment comprises factors that originate beyond and usually irrespective of any single firms operating situation i.e. they are factors outside the control of the business. The PESTLE framework is often used to analyze Read More …

Email/Contact Forms There is no question that email is one of the most valuable ways to gather candid customer feedback. However, there are a few ways you can improve the way customers reach out to you via email to maximize Read More …

1. Ask Them. The simplest way to find out what people want from your service or product is to ask them. That’s what the hairdresser does when he says, “How would you like your hair, sir?”. The trouble is, most Read More …

Two of the challenges of performing stakeholder analysis are determining how stakeholders are affected by a firm‘s decisions and how much influence they have over the implementation of the decisions that are made. Many people have a tendency to fall Read More …

Identifying all of a firm‘s stakeholders can be a daunting task. In fact, as we will note again shortly, a list of stakeholders that is too long actually may reduce the effectiveness of this important tool by overwhelming decision makers Read More …