by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation
[cite] Back to: NEGOTIATIONS What are the Steps to Learn to Negotiate Effectively? 1. Prepare Preparation is imperative to an optimal level of performance in any given task or undertaking. Negotiations is no different. Preparing for a negotiation requires examination...
by TheBusinessProfessor | Feb 23, 2025 | Economic Analysis & Monetary Policy
[cite] Back to:ECONOMIC ANALYSIS & MONETARY POLICY Income Elasticity of Demand Definition Income elasticity of demand is an economic concept that measures how demand for a particular good responds to a change in the real income of consumers. It examines the link...
by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation
[cite] Back to: HOW WE COMMUNICATE Back to: Business Management Organizational communication involves the relaying of information within the organization from one level to another. Organizations must have a robust environment that encourages and facilitates open...
by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation
[cite] Next Article: Information Flow within an Organization Back to: Business Management The context that results in a basic understanding of the situation in which the communication is taking place, and the factors that influence the communication also becomes quite...
by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation
[cite] Next Article: The Recipient of a Communication Back to: Business Management Information is communicated through messages that become an integral part of communication. Messages can be in the form of dialogue, language, gestures, or the context. There are three...
by TheBusinessProfessor | Feb 23, 2025 | Business Communications & Negotiation
[cite] Next Article: Communication Process Back to: Business Management What is communication, and why is it important? Communication can be understood as the process of expressing ones thoughts and relaying it to the others. Communication can be done in writing as...
by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science
[cite] Back to: RESEARCH, ANALYSIS, & DECISION SCIENCE Pareto or 80-20 Rule Definition The 80-20 rule, also known as Pareto Analysis, is the principle of factor sparsity. It is a business rule which states that 80 percent of many events come from 20 percent of the...
by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management
[cite] Back to: OPERATIONS, LOGISTICS, & SUPPLY CHAIN MANAGEMENT Six Sigma Definition Six Sigma (often abbreviated as 6) is a statistical-based quality-control program that emphasizes the reduction or elimination of defects in a product, a process, or a service...
by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations
Financial Action Task Force (FATF) Academic Research on Financial Action Task Force Special recommendations on terrorist financing, Force, F. A. T. (2001). Retrieved May,23, 2005. The international anti-money-laundering regime: The role of thefinancial action task...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
[cite] Next Article: Competitive Advantage Back To: ENTREPRENEURSHIP Recap of the Business Analysis and Industry Forces The SWOT analysis, along with PESTEL factors told you a good deal about the internal and external threats on your business operations. The Porters...
