Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from origin to consumption. It involves coordinating and integrating all the activities involved in getting a product or service from its inception to the end consumer. Key Characteristics / Core Concepts Planning and forecasting demand Sourcing and … Read more
Strategic planning is the process of defining a company’s long-term goals and developing a plan to achieve them. It involves analyzing the current situation, identifying opportunities and threats, and setting objectives and strategies to capitalize on opportunities and mitigate threats. Key Characteristics / Core Concepts Long-term focus: Strategic plans typically cover a period of several … Read more
Strategic management is the ongoing process companies use to define their vision, set goals and objectives, and choose how to allocate resources to achieve those goals. It involves analyzing the internal and external environments to make informed decisions about the future direction of the organization. Key Characteristics / Core Concepts Long-term perspective: Strategic management focuses … Read more
Sports management is the business side of sports, encompassing the administration, marketing, and financial operations of sporting events, teams, and organizations. It involves a wide range of activities aimed at maximizing the success and profitability of sports-related ventures. Key Characteristics / Core Concepts Business Acumen: Strong understanding of finance, marketing, and business principles is essential. … Read more
Small business management is the process of overseeing and running a small-scale business, encompassing all aspects from planning and operations to marketing and finance. It requires a diverse skill set and adaptability to succeed in a competitive market. Key Characteristics / Core Concepts Strategic Planning: Setting long-term goals and devising plans to achieve them. Financial … Read more
Shop management refers to the overall administration and organization of a retail store or workshop. It encompasses all the activities required to run a successful and efficient business, from inventory control to customer service. Key Characteristics / Core Concepts Inventory Management: Tracking stock levels, ordering, and managing storage. Sales & Customer Service: Processing transactions, managing … Read more
Sericulture is the production of raw silk by raising silkworms. It involves the cultivation of mulberry trees (the silkworm’s primary food source), the raising of silkworms, the harvesting of cocoons, and the processing of silk thread. Key Characteristics / Core Concepts Mulberry Cultivation: Growing mulberry trees to feed silkworms. Silkworm Rearing: Raising silkworms in controlled … Read more
Sales is the process of selling a product or service to a customer in exchange for money or other compensation. It involves building relationships, understanding customer needs, and persuading them to make a purchase. Key Characteristics / Core Concepts Identifying customer needs and wants Presenting and demonstrating products or services Handling objections and closing deals … Read more
Retail management encompasses all activities involved in running a retail business, from sourcing products and pricing them to managing staff and enhancing the customer experience. It’s about effectively overseeing every aspect of a store or online retail operation to maximize profits and customer satisfaction. Key Characteristics / Core Concepts Merchandising: Sourcing, pricing, and displaying products … Read more
Restaurant management encompasses all the activities involved in running a successful restaurant, from overseeing operations to managing staff and finances. It’s a multifaceted field requiring a blend of business acumen, culinary knowledge, and exceptional people skills. Key Characteristics / Core Concepts Operational Efficiency: Streamlining processes to maximize productivity and minimize waste. Financial Management: Budgeting, cost … Read more