Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost.
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning.
A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals.
Marketing management is the strategic organizational discipline which focuses on the practical application of marketing orientation, techniques and methods inside enterprises and organizations and on the management of a firm's marketing resources and activities.
A balanced scorecard is a strategy performance management tool – a well-structured report used to keep track of the execution of activities by staff and to monitor the consequences arising from these actions.
Shareholder value is a business term, sometimes phrased as shareholder value maximization. It became prominent during the 1980s and 1990s along with the management principle value-based management or "managing for value".
Business analysis is a professional discipline focused on identifying business needs and determining solutions to business problems. Solutions may include a software-systems development component, process improvements, or organizational changes, and may involve extensive analysis, strategic planning and policy development. A person dedicated to carrying out these tasks within an organization is called a business analyst or BA.
Business development entails tasks and processes to develop and implement growth opportunities within and between organizations. It is a subset of the fields of business, commerce and organizational theory. Business development is the creation of long-term value for an organization from customers, markets, and relationships. Business development can be taken to mean any activity by either a small or large organization, non-profit or for-profit enterprise which serves the purpose of 'developing' the business in some way. In addition, business development activities can be done internally or externally by a business development consultant. External business development can be facilitated through Planning Systems, which are put in place by governments to help small businesses. In addition, reputation building has also proven to help facilitate business development.
Corporate communication(s) is a set of activities involved in managing and orchestrating all internal and external communications aimed at creating a favourable point of view among stakeholders on which the company depends. It is the messages issued by a corporate organization, body or institute to its audiences, such as employees, media, channel partners and the general public. Organizations aim to communicate the same message to all its stakeholders, to transmit coherence, credibility and ethics.
The following outline is provided as an overview of and topical guide to business management:
Sales management is a business discipline which is focused on the practical application of sales techniques and the management of a firm's sales operations. It is an important business function as net sales, through the sale of products and services and resulting profit, drive most commercial business. These are also typically the goals and performance indicators of sales management.
A Philanthropreneur, also known as a Philanthro-capitalist, is a Portmanteau of entrepreneur and Philanthropy. The Wall Street Journal used the term in a 1999 article, while a publication entitled The Philanthropreneur Newsletter existed as far back as 1997. Philanthropreneurship is often considered the start of a new era in Philanthropy, characterized by the development of the Philanthropist's role and the integration of business practices.
Corporate venture capital (CVC) is the investment of corporate funds directly in external startup companies. CVC is defined by the Business Dictionary as the "practice where a large firm takes an equity stake in a small but innovative or specialist firm, to which it may also provide management and marketing expertise; the objective is to gain a specific competitive advantage." Examples of CVCs include GV and Intel Capital.
In business, operational objectives are short-term goals whose achievement brings an organization closer to its long-term goals. It is slightly different from strategic objectives, which are longer term goals of a business, but they are closely related, as a business will only be able to achieve strategic objectives when operational objectives have been met. Operational objectives are usually set by middle managers for the next six to twelve months based on an organisation's aim. They should be attainable and specific so that they can provide a clear guidance for daily functioning of certain operations. This business term is typically used in the context of strategic management and operational planning.
An international joint venture (IJV) occurs when two businesses based in two or more countries form a partnership. A company that wants to explore international trade without taking on the full responsibilities of cross-border business transactions has the option of forming a joint venture with a foreign partner. International investors entering into a joint venture minimize the risk that comes with an outright acquisition of a business. In international business development, performing due diligence on the foreign country and the partner limits the risks involved in such a business transaction.
Entrepreneurial finance is the study of value and resource allocation, applied to new ventures. It addresses key questions which challenge all entrepreneurs: how much money can and should be raised; when should it be raised and from whom; what is a reasonable valuation of the startup; and how should funding contracts and exit decisions be structured.
Growth planning is a strategic business activity that enables business owners to plan and track organic growth in their revenue. It allows businesses to allocate their limited resources toward a centered effort to adapt to changes in the industry driven by digital disruption and differentiate from competitors. The strategies and tactics included in a growth plan focus on the key driver of revenue generation - the customer.
In the 1980s, a change in companies organizational culture began when internal and external actors started to demand more from the companies from whom they acquired goods and services. Actors wanted companies to reflect their core values, or the values that were established the moment when the organization was created; these values also need to reflect the company's organizational culture. These actors were later on given the name of stakeholders, people or groups who have an interest, claim, or stake in the organization. To be more specific, they focus on what a company does and how well it performs. As companies began to maximize their profits, stakeholders became more demanding and influential in the decision-making process. These groups of stakeholders began insisting on a more dynamic, stimulating, and rewarding work environment that would result in better work conditions.
