Introduction In the contemporary business landscape, characterized by rapid technological advancements and escalating data generation, the concept of big data has emerged as a cornerstone for strategic decision-making, particularly in risk management. Big data refers to the vast volumes of structured and unstructured data that inundate businesses daily. The relevance of big data in risk management stems from its potential...
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The study identified change management practice factors and evaluated its influence on the growth of private business in Nigeria. These were with a view to provide information for management policy makers on change management best practice to achieve needed expansion and contribute to the country’s economic growth. The method of data collection was questionnaire to elicit information on change management...
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All over the world, companies have to face new challenges, opportunities and risks because of globalization, intense competition, new technology improvement and market structures changes. As financial institutions before, non-financial corporations have just realized that risk management is becoming essential and be part of the good financial health of firms. Non-financial corporations core business involves the production of goods and...
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Monte Carlo simulation is a method used to estimate risk involved in the occurrence of an event. Ideally one will be presented with several alternatives to perform certain task, and by the use of Monte Carlo simulation informed decision can be made choosing the correct or the most convenient course of actions. The mechanism of Monte Carl simulation is a...
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Preparing for the worst is essential to running a successful food business. Before anyone can open the doors to a new business, it is imperative to reduce the likelihood of a serious accident or a liability lawsuit by conducting a restaurant risk analysis. A comprehensive risk management plan can reduce the likelihood of these risks because every business endeavor comes...
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Leadership is something that many aspire to, but few achieve in full measure. It has been defined as being a combination of charisma, integrity, determination, flexibility, resourcefulness, creativity, self-confidence, a sense of responsibility, the ability to communicate, and consistency. George Washington had all these qualities, and it is therefore somewhat ironic that although he was truly a great leader, he...
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The downstream oil and gas industry has faced an extremely difficult challenge over the past few years from 2015 to 2017. How were companies in this industry going to survive while the average selling price for a barrel of oil was twenty dollars, and the business models for many oilfield companies had been built on selling barrels of oil at...
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Introduction In the contemporary landscape of organizational development and strategic planning, the intersection of generation games and risk management has emerged as a fascinating area of study. Generation games, often portrayed through interactive simulations and strategic planning exercises, play a pivotal role in understanding the dynamics of decision-making across different age cohorts. These games serve as a microcosm of real-world...
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This is a question that inevitably arises in the mind of anyone who studies, even on a casual basis, the founding of our nation. Washington lived and worked with brilliant philosophers, thinkers, writers, orators and organizers, such as Franklin, Mason, John and Sam Adams, Jefferson, Patrick Henry, Hamilton, Madison, Dickinson, the Randolphs and the Lees, almost all of whom were...
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The main focus of this case study is to deepen our knowledge regarding the implementation of strategic leadership and change management in a diverse company based in Indonesia, where diversity is still an issue. This case study will discuss the manager’s experience of the company’s strategic leadership process and his change management interpretation and how effective it has been for...
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Oriental carpets are works of art –unique and exquisite – worthy of collections. But when it comes to buying oriental rugs, most people shy away or hesitate. It’s difficult to judge its quality and they can never know whether they are being ripped off or their purchase is really worth it. There simply is not one single factor determining the...
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Leadership is described as being a person who has the ability to have people follow them. There are many characteristics for being a leader or holding a leadership role. In order to be a good leader one must be able to be trusted. They must also be a person who is a visionary and knows when to be & not...
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The meaning of sustainability differs drastically depending on which perspective you look at it from. It could mean lower carbon emissions, green and eco-friendly or it could mean a self-sufficient system, or even could be about creating a healthy environment that is based on ecological principles. Putting sustainability within the context of a Supply Chain Management (SCM) process, more accurately...
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An organisational structure is a system that outlines how certain activities are directed in order to achieve the goals of an organisation. These activities can include power, roles, and responsibilities. The organisational structure also determines how information flows between levels within the company. For example, in a centralised structure, decisions flow from the top down, while in a decentralised structure,...
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When making decisions in personal and professional lives, one must identify and compare opportunity costs. When comparing options, it is important to analyze every cost and other opportunities that one must give up. Choosing between taking an absence from work, moving out of town and pursuing a MBA degree full time or maintaining one’s current job while enrolled in a...
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WhatsApp and Telegram are two highly coveted and extremely popular cross-platform messaging apps that have been designed with the sole intention of facilitating quick and easy communication between its users, whilst promising to respect their privacy; a desirable and necessary trait in this day and age. Whilst WhatsApp and Telegram may at first appear similar, there are some important differences...
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Rewards and compensation play a vital role in motivating employees and improving performance in organization. A cautiously designed reward and compensation system can significantly increase the performance of employees resulting in organization's effectiveness and productivity. With the changing scene in the world of work today, a multifaceted reward and compensation system is required to meet the demands of the employees....
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Knowledge, in simple terms, knowledge is data that have been shaped into a form that is meaningful and useful to the intended persons. It can also be defined as information that is specific, relevant and actionable. Social Networks are dedicated websites and applications which enable people to communicate with each other through text messages, comments and using images. Facebook is...
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Business ethics means applying or implementing set of appropriate business policies even if difficult obstacle comes in between for example obstacles like without bridging government laws, refraining from corrupt practices and other illegal practices. Ethics plays an important role in individual judgment and decision which lead to downfall or profit in businesses. When thinking about ethics, it consists of all...
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Diversity may come from many perspectives, it can be as observable as gender, age, nationality, religion, or have more complex definitions like personalities and characters of individuals, different backgrounds and cultures, and distinct mindsets. Conventional speaking, diversity is good for boards and businesses. But when it comes to reality, very few boards would see significant changes and positive returns when...
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Observation is a proposed tracking, recording, review and evaluation of attitudes, acts, or events of people. Observational studies provide substantial insights that other methods of data collection do not. Observational approaches shed light on the actions of consumers and workers and can help address questions such as How do customers walk through supermarkets? How do they ingest goods and dispose...
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Service positioning is a unique identity of a service in competitive market. Positioning is concerned with the identification, development and communication of a differentiated advantage which makes the organization’s products and service perceived as superior and distinctive to those of its competitors in the mind of its target customers. Positioning a service is difficult as compared to products based on...
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Introduction Marketing mix are actions and tactics that a company uses for the purpose of promoting its brand or its product in the selected target market. The application of marketing mix adopted by various companies depends on the size of their business, the location, the advertising strategies chosen by them and a range of other factors It is called a...
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Introduction to Costco Wholesale Corporation In 1983, Costco Wholesale Corporation began its operations in Seattle, Washington. It is an industry that puts its focus on the operation of membership warehouses that sell high-quality merchandise at low costs to its members. Costco offers various merchandise that includes food, sundries, hardlines, softlines, and ancillaries. They also provide online services that are not...
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“Identifying and developing talent globally is the strength that makes leadership a competitive advantage for Scotiabank” - (Scotiabank, 2019). First and foremost, Scotiabank is extremely dedicated to helping develop leaders. Ultimately, strong leadership within any business is a competitive advantage that can help deliver positive results. Scotiabank has operations in over 50 countries, and these platforms help identify and develop...
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Sony corporation was founded in 1946 by Masaru Ibuka and Akio Morita. Its first invention was rice cooker which had failed and led to G-TYPE recorder in 1950, it also introduced pocket transistor radio in 1957. A cathode-ray tube was launched on October 15, 1967 which helped them in video innovation. Its headquarters are located in Japan where large parts...
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Improving economic efficiency and effectiveness is one of the priority goals of the leadership of any organization the implementation of which almost always affects the human resource management system. The main functions of management (planning, organization, implementation, motivation, coordination, control) are actually aimed at streamlining and regulating personnel activities, at increasing the efficiency of using human potential through certain methods...
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Gender diversity in the workplace has been a topic of conversation in the United States since the women’s liberation movement in the 1960s (Burkett, 2019). As time has gone on, the calls to action for equal opportunities in employment have intensified with the inclusion of laws protecting women from gender discrimination. There have been many proposed solutions to increase the...
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Knowledge is variable; the data can be identical, but the knowledge is always different. The past 25 years have seen knowledge management evolving, underpinning that knowledge is our most strategic asset and should be managed as it is “the most important guarantor of sustainable competitive advantage” (Easterby-Smith & Prieto, 2008). Knowledge and its management must evolve over time as one...
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Scientific management is also widely recognised as Taylorism. Taylorism was used in industrial firm to solve the complex problem about increasing the labour productivity. Scientific management allows absolute uniformity to a greater extent within the labour’s working in an industry. this eventually enforced great deal of burden, responsibilities, duties to the managers which never took place in the past. Frederick...
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