Marketing & Strategy
Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. It refers to a business's overall game plan for reaching prospective consumers and turning them into customers of their products or services. A marketing strategy contains the company's value proposition, key brand messaging, data on target customer demographics, and other high-level elements.
Human Resource Management & Leadership
The human resources leader is a key link between management and the employee workforce. There is a symbiotic relationship between leadership and HR. So much of good HR strategies, policies and practices are dependent upon good leadership and so much of good leadership is dependant upon good HR practices – the right interventions at the right time, for the right leaders.
Financial management may be defined as the area or function in an organization which is concerned with profitability, expenses, cash and credit, so that the "organization may have the means to carry”. It means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise. The Functions of Financial Management are:
Operation Management & Information System
Operations Management (OM) and Information Systems (IS) are closely related fields of study, both vital to business across the public and private sectors. The two disciplines are natural partners.OM applies sophisticated methods to solving business problems related to designing, planning, controlling and improving operations, logistics and supply chain management processes. New information technologies to support them are continually evolving. Meanwhile, IS focuses on bridging the divide between computer science and business management, incorporating a range of approaches for designing and applying information technology solutions to organisations.
Innovation and Entrepreneurship
Innovation enhances the nature, creativity, and design thinking process of a brand. A new business can attain the height of success by learning the steps of creativeness. Innovation in Entrepreneurship can open the doors of various opportunities by helping the business to keep up with the current trends. Innovation and entrepreneurship are two closely related words used in the business world.Entrepreneurship, by contrast, is applying the innovation to bring the ideas to life. It is social invention, which lets people do what they could not previously do.
Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Strategies to manage threats (uncertainties with negative consequences) typically include avoiding the threat, reducing the negative effect or probability of the threat, transferring all or part of the threat to another party, and even retaining some or all of the potential or actual consequences of a particular threat. The opposite of these strategies can be used to respond to opportunities (uncertain future states with benefits).
Total Quality Management
A core definition of total quality management (TQM) describes a management approach to long-term success through customer satisfaction. In a TQM effort, all members of an organization participate in improving processes, products, services, and the culture in which they work.