Integrated Business Planning or IBP is a cyclic planning process that focuses on collaboration of various departments within an organisation. Collaboration can be achieved easily with an online business management solution. The solution / software enables all stakeholders to send and receive the latest business data and share their insights. Business Management becomes more complex…
Month: August 2020
Customer Relationship Management (CRM) vs Enterprise Resource Planning (ERP)
Customer Relationship Management (CRM) CRM systems manage the interaction between an organisation and its customers. Organisations use CRM to automate the process of sales & marketing and after-sales services. Sales & Marketing Teams use CRM to increase customer satisfaction and revenue by creating a central repository of customer data that can be used by all…
Managerial Decision Making
What is a problem? Problem is a mismatch between the current output of existing processes and desired outcomes. What is the decision-making process? Decision-making process includes the following steps- Identifying the problem Setting objectives Evaluating the alternatives Choosing the best alternative Implementing the decision Assessing decision effectiveness Managerial decision-making Managers at all levels need to…