Organizations use a retrenchment strategy when they face financial issues or have issues with managing operations. This strategy helps them cut their losses and focus on their core strengths. This strategy often responds to declining profits, market changes, or high competition. By implementing retrenchment, businesses aim to become leaner, more efficient, and better positioned for …
Effective communication occurs when ideas flow freely between people without interference or misunderstandings. It should be a two-way process free of noise or distractions. However, barriers can disrupt this process and reduce its effectiveness. These barriers may be psychological, physical, linguistic, or cultural, each affecting communication uniquely. Psychological barriers can profoundly impact how messages are …
Informal communication is casual communication among colleagues in the workplace. It does not follow any set rules, structure, or chain of command. For example, a chairman might chat with a junior employee. This type of communication happens during casual talks, discussions, or social gatherings. It cannot be used as official evidence or record because it …
International marketing is the marketing of products or services across borders. It is also called global marketing. It helps businesses reach different countries with different cultures. Companies use localized approaches to adapt to the unique needs of each market. This may include changes in packaging, pricing, or advertising. The goal of international marketing is to …