Well, let me answer this question from the perspective of the great management scientist Maslow. We know him best for his needs hierarchy theory. Maslow's hierarchy of needs comprises a five-tier model of human needs designed in the form of a pyramid. What is Maslow's need for hierarchy theory? Maslow's hierarchy of needs theory explains the motivating factors that help fulfill human needs at different phases of their lives. What are physiological needs? Physiological needs are the basic needs that a human has, like food, water, clothes, sleep, etc. These are basic necessities that every person wants to have ... Read More

Miles and Snow's typology is a time-tested strategy in various types of organizations including hospitals, banks, insurance firms, and industrial product companies. This strategy typology is based on the idea that a manager formulates a strategy in response to the organization’s external environment. He/she seeks to strike a balance between the external and internal environment. In this pursuit, the manager can take one of the four stands. He/she can be a prospector, defender, analyzer, or reactor. Crucial Strategies of an Organization Let us understand each of the stands in detail with some real-life examples − Prospector This strategy ... Read More

The recent buzz about the metaverse is not unheard of. It is touted to have the lion’s share in the success of businesses in the future. This mix of augmented and virtual reality is carving newer ways to interact and collaborate with customers from the remotest places of the world. It envisions a world where daily activities would not be hampered by external forces. Customers would no longer have to make compromises in their shopping experience or not attend concerts because of a pandemic. It propagates the idea of leveraging digital assets in the economy. Having said all that, ... Read More

A good leader is an individual who is self-motivated and likes to take initiative. He/she holds the team together towards a common goal. It is the responsibility of the leader to make a clear roadmap of what has to be achieved. When the chips are down, they are the one who stands by their team and motivates the team members. When the team digresses from the path, they are the ones who channel the efforts in the right direction. A leader is empathetic and flexible to the needs of people. 10 Best Tips to Improve Leadership Skills Obviously, not ... Read More

Companies today have to find different ways to connect with their customers and the community they are operating in. Since new brands are coming up every minute, companies need to have a relationship with their customers to sustain themselves in this competitive environment. Another need-of-the-hour initiative by companies that also helps them in relationship marketing is cause marketing or cause branding. This is another trending and impactful initiative taken by the company. Hence, in this article, we will be diving deep into the concept of cause marketing and going through the top 10 tips through which companies can make a ... Read More

Businesses today live in a world of cutthroat competition. The market is flooded with identical and similar product offerings. For them, the competition is not so much the neighborhood or the immediate market that they live in as it is the entire globe. In this red ocean market, consumers have to take the extra step to understand their consumers and serve them in the best possible manner. Consumers are no longer the kind of people on the market; they are God, and pleasing them, consciously or subconsciously, is the goal of every business. To combat this challenge, in this ... Read More

Companies sell their products, and consumers purchase those products. There is a lot of thinking and emotions involved in this simple process, and it could not be more complicated than ever. The reason why we are saying this is because, though we assume consumers to be rational beings, we also see a lot of unhealthy products being sold in large quantities. If consumers were rational and thought about their well-being, would not all the cold drink shops (selling us excess sugar), fast food restaurants (selling us health problems and bad cholesterol), cigarette shops (harming our hearts and lungs), and others ... Read More

No denying that the fundamental intangible asset for every firm is its cultural resources. The human assets, not really the permanent or material assets, are what distinguish a company aside from its rivals in the competitive and ever-changing corporate environment of today. In the modern globalized world, the most significant and potent differentiator between organizations is their Human Resources (HR), often known as Human Assets. Workers departing a company may be practically reproduced, but because every human has a unique skill set and expertise, their expertise and abilities sets cannot be precisely matched by the person who replaces them. Strategic ... Read More

The many aspects of work, actions, or circumstances known as "corporate time traps" take up a great deal of time, effort, and assets without significantly advancing the aims or goals that the company has set. Such time traps may reduce the institution's inventiveness, output, and development, which eventually affects corporate earnings and efficiency. Business time traps may involve extensive conferences, protracted communications that are unneeded, cumbersome procedures, centralization, and outmoded technology or practices. These time traps frequently result from organizational inertia, reluctance to change, unclear information, and a failure to prioritize activities and goals. For enterprises to make the ... Read More

In some circumstances, for instance, when we must defend ourselves against dangers, the human feeling of fear may be helpful. Fear may, therefore, negatively affect output, confidence, and overall performance if it permeates an organizational context. Fear may appear in a variety of forms, such as anxiety about disagreement, uncertainty about the future, a fear of speaking publicly, nervousness about failing, and anxiety regarding the future. It takes a collective approach from managers, executives, and staff members for a company to overcome fear. It calls for a dedication to fostering a climate of psychological empowerment where individuals are free ... Read More