Technology management is the process of planning, organizing, and controlling the use of technology within an organization to achieve its strategic goals. It involves aligning technology investments with business objectives and ensuring that technology effectively supports business operations. Key Characteristics / Core Concepts Strategic Alignment: Aligning technology with business strategy. Resource Management: Efficient allocation of … 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
Resource management is the process of planning, organizing, allocating, and controlling resources to achieve organizational goals efficiently and effectively. It involves making optimal use of available resources, which can include anything from financial capital and human talent to time, materials, and information technology. Key Characteristics / Core Concepts Planning: Forecasting future resource needs and developing … Read more
Project management is the application of knowledge, skills, tools, and techniques to project activities to meet project requirements. It involves planning, organizing, motivating, and controlling resources to achieve specific goals and meet specific success criteria. Key Characteristics / Core Concepts Defined Scope: Clearly outlining the project’s goals, deliverables, and boundaries. Detailed Planning: Creating a roadmap … Read more
Linear programming (LP) is a mathematical method for determining the optimal allocation of scarce resources to achieve a specific objective. It involves finding the best solution from a set of linear constraints and an objective function. Key Characteristics / Core Concepts Objective Function: A mathematical expression representing the goal (e.g., maximizing profit or minimizing cost). … Read more
Health economics is the application of economic principles and methods to the health sector. It studies how scarce resources are allocated to meet health needs and improve health outcomes. Key Characteristics / Core Concepts Resource Allocation: Focuses on efficient distribution of limited healthcare resources (funds, personnel, equipment). Cost-Effectiveness Analysis: Evaluating the relative cost and benefit … Read more
A business strategy is a long-term plan that outlines how a company will achieve its goals and objectives. It provides a roadmap for navigating the competitive landscape and securing a sustainable competitive advantage. Key Characteristics / Core Concepts Long-term vision: Defines the desired future state of the business. Competitive advantage: Identifies how the company will … Read more