What is Verbal Communication? Definition, Types & Examples

The Verbal Communcation

People communicate with each other constantly through different modes of communication, and verbal communication is the most commonly used method of conveying a message. Whether in personal conversations, professional settings, or public speaking, how we use words dramatically impacts the effectiveness of our communication.  Effective verbal communication ensures the message is delivered and understood clearly, …

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What is Licensing?

Licensing

Licensing is a business arrangement where a company permits another company to use its intellectual property for a certain time, mostly in return for a financial payment. Intellectual property can be a production process, patent, copyright, etc. Examples of a license can be KFC, McDonald’s, Coca-Cola, etc. These companies authorize local manufacturers or distributors to …

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Pricing Strategy in Marketing: Definition, Types and Examples

The Pricing Strategy

Pricing strategy is key to business success. With the right approach, you can improve your profit margin and take your business to the next level. Setting the right price requires understanding your market, competition, and customer behavior. An effective pricing strategy attracts customers and ensures profitability and growth.  In today’s blog post, I will explain …

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What is Span of Control in Management?

The Span of Control

Every manager oversees a group of employees who report directly to them. This group size is called the span of control. A manager’s span of control affects how well they can guide their team and manage tasks effectively. It is key to employee performance, work efficiency, and overall organizational success. A wide span of control …

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