The Business Professor
4 Trajectories of Industry Change
What are the 4 Trajectories of Industry Change? Her research suggests that industries evolve along one of four distinct trajectories--radical, progressive, creative, and intermediating--that set boundaries on what will generate profits...
The Business Professor
When to Incorporate a Business Entity
When should you Incorporate a Business Entity? Incorporate before hiring employees helps to protect your assets. Businesses that have or expect to have employees should incorporate before hiring them. Employers are generally liable for...
The Business Professor
Values Statement in the Business Plan
What is the Values Statement in a Business Plan? The values statement highlights an organization's core principles and philosophical ideals. It is used to both inform and guide the decisions and behaviors of the people inside the...
The Business Professor
Value Streaming Map - Explained
What is the Value Streaming Map? Value stream mapping is a technique — developed from Lean manufacturing — that organizations use to create a visual guide of all the components necessary to deliver a product or service, with the goal of...
The Business Professor
Uncertainty Avoidance
What is Uncertainty Avoidance? In cross-cultural psychology, uncertainty avoidance is how cultures differ on the amount of tolerance they have of unpredictability.
The Business Professor
Types of Teams
What are the Types of Teams? The five most popular types of teams in an organization include problem-solving teams, self-managed work teams, cross-functional teams, virtual teams, and multiteam systems. A formal team is a group of...
The Business Professor
Types of Organizational Learning
What are the Types of Organizational Learning? single loop, double loop, deutero learning, Organizational learning theory is a branch of organizational studies that seeks to understand how organizations acquire and use knowledge to...
The Business Professor
Theory of Constraints
What is the Theory of Constraints? The theory of constraints is a management paradigm that views any manageable system as being limited in achieving more of its goals by a very small number of constraints.
The Business Professor
Theory E and Theory O
What is Theory E? What is Theory O? Theory E is change based on economic value. Theory O is change based on organizational capability. Both are valid models; each theory of change achieves some of management's goals, either explicitly or...
The Business Professor
System Archetypes - Management
What are System Archetypes in Management? System archetypes are common and usually recurring patterns of behavior in organizations. These patterns almost always result in negative consequences. You can use system archetypes to...
The Business Professor
Stress (Organizational Behavior)
What is Stress? How is it related to Organizational Behavior? Stress occurs when a demand exceeds an individual's coping ability and disrupts his or her psychological equilibrium. Stress occurs in the workplace when an employee perceives...
The Business Professor
Strategic Analysis and Developing a Competitive Strategy
What is a Strategic Analysis? How does strategic analysis lead to a competitive advantage? Strategic analysis drives out internal and external strengths and weaknesses that affect the organization's growth. It helps you identify the...
The Business Professor
Stakeholder Management
What is Stakeholder Management? Stakeholder management is a critical component in the successful delivery of any project, programme or activity. A stakeholder is any individual, group or organization that can affect, be affected by, or...
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Stakeholder Analysis
What is Stakeholder Analysis? Stakeholder analysis in conflict resolution, business administration, environmental health sciences decision making,[1] industrial ecology, public administration, and project management is the process of...
The Business Professor
Special Employee Provisions - Term Sheet
What are the Special Employee Provisions in a Term Sheet? The parties often negotiate numerous employee-related provisions into the term sheet. These provisions serve as control mechanisms to either incentivize current management or...
The Business Professor
Social Networks in Organizations
What are Social Networks in Organizations? Social networks are visual maps of relationships between individuals. They are vital parts of organizational life as well as important when you are first looking for a job.
The Business Professor
Small Business Investment Company (SBIC)
What is a Small Business Investment Company (SBIC)? An SBIC is a privately owned company that's licensed and regulated by the SBA. SBICs invest in small businesses in the form of debt and equity. The SBA doesn't invest directly into...
The Business Professor
Six Leadership Styles
Six Leadership Styles. According to Daniel Goleman, Richard Boyatzis, and Annie McKee, there are six emotional leadership styles – Authoritative, Coaching, Affiliative, Democratic, pacesetting
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Set up a Business Entity
What are the steps necessary to set up a Business Entity?
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Quality Management
What is Quality Management? Quality management ensures that an organization, product or service consistently functions well. It has four main components: quality planning, quality assurance, quality control and quality improvement....
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Sensemaking Theory
What is Sensemaking Theory? Sensemaking or sense-making is the process by which people give meaning to their collective experiences. It has been defined as "the ongoing retrospective development of plausible images that rationalize what...
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SECI Model
What is the SECI Model? The SECI model of knowledge dimensions is a model of knowledge creation that explains how tacit and explicit knowledge are converted into organizational knowledge. The aim is to change the explicit knowledge of...
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Satisficing
What is Satisficing? Satisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met.
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Safety Management
What is Safety Management? A safety management system is designed to manage safety risk in the workplace, occupational safety being defined as the reduction of risk to a level that is as low as is reasonably practicable to prevent people...