1. What is business ethics? Business ethics is the set of principles and standards of conduct that guide business behavior. It applies ethical judgment and choice to a decision and takes into consideration various elements such as ethical impact on employees, customers, shareholders, and society. 2. Why is business ethics important? Business ethics is important…
1. What are leadership styles? Leadership styles refer to the different approaches or behaviors leaders use to guide, motivate, and manage teams. These styles can differ from one leader to another based on their personality, values, and the organization’s or team’s need. 2. Why is it important for managers to understand leadership styles? Understanding leadership…
1. What does building an e-commerce empire mean? Building an e-commerce empire simply means the successful and scalable building of an online business, resulting in generating major revenue. The process is very much about setting up a brand name, product offers, marketing, sales, and customer service in ways that give them a high shot at…
1. What is business analytics? Business analytics is a process that helps interpret business data by using analysis tools and techniques to make an informed decision for growth and efficiency of the business. 2. Why is business analytics important? Business analytics enables an organization to take data-driven decisions, optimize its processes, and improve customer experiences…
1. What is a subscription-based business model? A subscription-based business model is where customers pay a recurring fee, either weekly, monthly, or annually, to access a product or service. It can be applied to physical goods, digital services, or a combination of both. 2. What are the types of subscription-based businesses? Common types include: Product…
1. What is supply chain management? Supply chain management (SCM) refers to the planning, coordination, and control of all activities within the production and distribution of products to ensure the right products get to the right customers at the right time while managing the flow of goods and services from suppliers to consumers. 2. Why…
