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 …
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 …
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 …
Strategic planning is a key tool for business success. It helps organizations define their vision and decide how to achieve it. This process sets clear long-term goals and outlines the steps needed to achieve them. Businesses can focus their efforts and make better decisions by following a strategic plan. The strategic planning process involves analyzing …