Franchising Essentials: Benefits, Obligations, and Contracts
Understanding Franchising: A Business Model
Franchising is a marketing system built on close and continuous collaboration between financially and legally distinct and independent companies. Through franchising, the franchisor grants its franchisees the right and obligation to conduct business under the franchisor’s established concept.
The Franchisor’s Concept
The franchisor’s concept is a combination of three key elements:
- The proprietary ownership or right to use specific logos and branding.
- The utilization
Key Business Frameworks and Strategies
Senior Consultant Recommendations for NH Board
As Senior Consultant for the tourism sector, the innovations I would propose would be, in the first place, technological advancements. Creating hotels with significant technological capabilities, using the newest technologies, would make them much more attractive to customers. I would also propose changes in the facilities to create a distinctive hotel that captures customers’ attention. Finally, I would seek to change the company’s policy regarding
Read MoreEssential Marketing & Brand Management Definitions
Understanding Core Marketing & Brand Management Concepts
Brand Equity Fundamentals
Brand equity is defined as a set of brand assets and liabilities linked to a brand, its name, and symbol that add to (or subtract from) the value provided by a product or service to a firm and/or that firm’s customers.
Types of Brand Equity
Customer Brand Equity
This is the value customers receive from a brand, less the value they receive from a generic product. Customer brand equity comprises value received before
Economic Advantages of the Eurozone Currency
The Euro: Advantages of a Single EU Currency
Key Benefits of the Eurozone Currency
Enhanced Price Stability in the Euro Area
The euro is as stable as the best-performing currencies previously used in the Euro area countries. This has established an environment of price stability in the Euro area, exerting a moderating influence on price and wage-setting. As a consequence, inflation expectations and inflation risk premiums have been kept low and stable. Even in the more challenging current environment,
Read MoreCorporate Social Responsibility: Impact, Strategy, and Stakeholder Engagement
Understanding Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) is a critical aspect of modern business. It encompasses how companies manage their business processes to produce an overall positive impact on society.
Key Factors Driving CSR Importance
- Poor business behavior towards customers.
- Treating employees unfairly.
- Ignoring the environmental consequences of organizational actions.
- Significant impact on reputation.
Core Principles of CSR
- Giving back to society what society
Strategic Human Resource Planning and Talent Acquisition
Key Elements of Human Resource Planning
HR planning is the process of forecasting employment needs. The process involves:
- Assessing current employment levels
- Predicting future needs
- Planning for internal movement
- Predicting external hiring needs
Even for externally oriented companies, it is more convenient to look internally before seeking external candidates.
Characteristics of Organizations That Attract Recruits
The four general characteristics that attract applicants to organizations are:
Familiarity
Organizations