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Reliability

What is Reliability?

The quality of being trustworthy or of performing consistently well. The degree to which the result of a measurement, calculation, or specification can be depended on to be accurate.

Definitions of Reliability? The ability of an apparatus, machine, or system to consistently perform its intended or required function or mission, on demand and without degradation or failure.

Ma…

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Goal Commitment

Goal Commitment?

What affects the strength of commitment to goals? How does this affect goal attainment? Goal commitment is our determination to pursue a course of action that will lead to the goal we aspire to achieve (Bandura, 1986). The strength of goal commitment will affect how hard one will try to attain the goal. Goal commitment is affected by the properties described thus far: difficulty…

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Components of a Strategy Statement

What are Components of a Strategy Statement?

The strategy statement of a firm sets the firm’s long-term strategic direction and broad policy directions. It gives the firm a clear sense of direction and a blueprint for the firm’s activities for the upcoming years. The main constituents of a strategic statement are as follows:

Strategic Intent

An organization’s strategic intent is the purpose that…

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Strategic Management

What is Strategic Management?

Strategic management involves the formulation and implementation of the major goals and initiatives taken by a company’s top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization competes.

Strategic management provides overall direction to the enterprise and involves…

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Strategy

What is Strategy?

A method or plan has chosen to bring about the desired future, such as achievement of a goal or solution to a problem.

The art and science of planning and marshaling resources for their most efficient and effective use. The term is derived from the Greek word for generalship or leading an army. See also tactics.

A strategy is a high-level plan to achieve one or more goals under…

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Advantage and Disadvantages of Mission Statement

What is Definition of Mission Statement? A sentence describing a company’s function, markets and competitive advantages; a short written statement of your business goals and philosophies.

A mission statement defines what an organization is, why it exists, its reason for being. At a minimum, your mission statement should define who your primary…

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Mission Statement

What is Mission Statement?

A mission statement is a short statement of an organization’s purpose, identifying the scope of its operations: what kind of product or service it provides, its primary customers or market, and its geographical region of operation. It may include a short statement of such fundamental matters as the organization’s values or philosophies, a business’s main competitive…

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Vision Statement

What is Vision Statement?

A vision statement is a declaration of an organization’s objectives, ideally based on economic foresight, intended to guide its internal decision-making. A vision statement is not limited to business organizations and may also be used by non-profit or governmental entities.

The vision statement is written by looking ahead into the future. It aims at higher achievable…

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Rapunzel

“The Fairy Tales” short story was written by the Brothers Grimm: There were once a man and a woman who had long in vain wished for a child. At length the woman hoped that God was about to grant her desire. These people had a little window at the back of their house from which a splendid garden could be seen, which was full of the most beautiful flowers and herbs. It was, however,…

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Old Sultan

“The Fairy Tales” short story was written by the Brothers Grimm: A shepherd had a faithful dog, called Sultan, who was grown very old, and had lost all his teeth. And one day when the shepherd and his wife were standing together before the house the shepherd said, ‘I will shoot old Sultan tomorrow morning, for he is of no use now.’ But his wife said, ‘Pray let the poor faithful…

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Mother Holle / Frau Holle

“The Fairy Tales” short story was written by the Brothers Grimm: Once upon a time there was a widow who had two daughters; one of them was beautiful and industrious, the other ugly and lazy. The mother, however, loved the ugly and lazy one best, because she was her own daughter, and so the other, who was only her stepdaughter, was made to do all the work of the house,…

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Library and Internet Research

Understanding and Using the Library and Internet Research

What is Library?A library is a collection of sources of information and similar resources, made accessible to a defined community for reference or borrowing. It provides physical or digital access to material and may be a physical building or room, or a virtual space, or both. A library’s collection can include books, periodicals,…

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Brainstorming

What is Brainstorming?

Meaning of Brainstorming: “Brainstorming is a group creativity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members.”

Definition of Brainstorming

Process for generating creative ideas and solutions through intensive and freewheeling group discussion. Every participant is…

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Focus Groups

What is Focus Groups?

A focus group is small, but the demographically diverse group of people whose reactions are studied especially in market research or political analysis in guided or open discussions about a new product or something else to determine the reactions that can be expected from a larger population. It is a form of qualitative research consisting of interviews in which a group of…

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The Creative Process

Creativity is a phenomenon whereby something new and somehow valuable is formed. The created item may be intangible (such as an idea, a scientific theory, a musical composition, or a joke) or a physical object (such as an invention, a literary work, or a painting).

Scholarly interest in creativity involves many definitions and concepts pertaining to a number of disciplines:…

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Successful Characteristics of Entrepreneur

Have you ever thought about striking out on your own? After all, being your own boss can be an exciting prospect. However, owning a business isn’t for everyone. To be a successful entrepreneur, you must have or develop certain personality traits. Here are nine characteristics you should ideally possess to start and run your own business:

I. Motivation:E…

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Personal Characteristics of the Entrepreneur

An entrepreneur is typically in control of a commercial undertaking, directing the factors of production – the human, financial and material resources that are required to exploit a business opportunity. They act as the manager and oversee the launch and growth of an enterprise. Entrepreneurship is the process by which an individual (or team)…

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