Essential Terminology in Strategic Management
Strategic Management Glossary: Key Business Concepts
Added Value
The difference between the full cost of a product and its financial value in the market. Achieving high added value is one of the primary objectives of business strategy.
Backward Vertical Development (Integración Vertical Hacia Atrás)
The strategy of buying your suppliers. This involves the acquisition of a part or the entirety of the backward direction in the supply chain.
BCG Matrix
A planning tool used to rationalize and understand
Read MoreAddressing Family Conflicts and Social Vulnerability
Identifying Social and Family Difficulties
Challenges to Quality of Life
Meeting essential needs in different areas: food, housing, employment, education, leisure, and social security.
Family Relationship Conflicts
Relations between different individuals, conflicts, and crises stemming from common life:
- Couple conflicts.
- Parent-child relationships: responding to their own developmental stages.
- Intergenerational solidarity: the care of dependent members and new family responsibilities.
Identity and Cultural
Read MoreEssential Concepts in Marketing Channels and Publicity
Public Relations and Distribution Channels
Community Involvement in Public Relations
Community involvement is a form of public relations. It can range from:
- Sponsoring a children’s soccer team.
- Underwriting the costs of charity events.
- Loaning an executive to run a charitable organization.
Defining the Marketing Channel
A marketing channel is a system designed to close numerous gaps between the manufacturer and users of products.
Agents in the Business Marketing Channel
Agents operate within the business
Read MoreGlobal Human Resource Management (GHRM): Definition, Features, and Strategy
What is Global Human Resource Management (GHRM)?
Global Human Resource Management (GHRM) is the strategic management of human resources in an international business environment.
Definition: GHRM refers to managing human resources in an international business environment, addressing diverse cultural, legal, and economic systems.
Scope: It involves recruiting, training, developing, and retaining employees across different countries and regions.
Cultural Sensitivity: GHRM requires understanding and managing
Crafting a Winning Project Proposal and Cover Letter
Project Proposal Template
Introduction
This proposal aims to solve (problem or need) by introducing (solution or strategy). Recently, (brief explanation of the problem or situation) has become a significant issue, showing the need for a better approach. If we apply (proposal), we can improve (key aspect) and create a positive impact on the (beneficiary group or sector).
The main goal of this project is to (general objective), ensuring that (expected outcome). By working together and using the right
Read MoreThe Great Depression: Causes, Crash, and Recovery Policies
The Great Depression
US Roots of the Crisis
Problems in the Agrarian Sector
The agrarian sector faced significant challenges, transitioning from cereals to cotton production. Key issues included:
- Decreased foreign demand and falling prices (due to the recovery of Europe).
- Internal changes (shifting consumption patterns).
- High indebtedness in rural areas (mortgages taken out to expand and mechanize crop areas), leading to banking problems and demands for protectionism.
Problems in the Manufacturing Sector
- Productivity