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A business capability is what a company needs to do to execute its business strategy (e.g., enable e-payments, tailor solutions at point of sale, demonstrate product concepts with customers, combine elastic and non-elastic materials side by side, etc.).
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People in this group say things like, “They messed up.” “They should have done that better.” “They should have planned this more carefully.” Effective strategy processes move the “we/they” line down in the organization so that more people use the word “we” and take ownership for making things happen and making things better ...
Business management – management of a business – includes all aspects of overseeing and supervising business operations. Management is the act of allocating resources to accomplish desired goals and objectives efficiently and effectively; it comprises planning, organizing, staffing, leading or directing, and controlling an organization (a ...
Franchising is a way for small business owners to benefit from the economies of scale of the big corporation (franchiser). McDonald's and Subway are examples of a franchise. The small business owner can leverage a strong brand name and purchasing power of the larger company while keeping their own investment affordable.
Human resource management (HRM) is the strategic and coherent approach to the effective and efficient management of people in a company or organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives.