MBA Knowledge Base

Case Study: Henry Ford’s Contributions to Organizational Behavior and Leadership

Henry Ford, born in 1863 with his innovative ideas in producing motor vehicles and excellent engineering works went on to become the hero of people in the industry. His primary goal was always to produce petrol propelled motor vehicle and in 1896 he developed his first self propelled vehicle which he called the quadricycle. After a lot of struggles and legal battles, he founded the Ford Motor Company in 1903 with only $28000. He dreamed of making efficient affordable cars and in 1908 produced the popular model T. Henry Ford changed the world with his revolutionary ideas and transformed the motor industry with his leadership.… Read the rest

April 25, 2024April 25, 2024Abey Francis

De Bono’s Six Thinking Hats: A Creative and Critical Thinking Model

Creative thinking has always been one of the main aspects in the successful implementation of any business strategy. In the prospect of business growth and development, it is necessary to establish an effective decision-making approach, which will help to outline the company’s strengths and decrease the negative impact of weaknesses. The Six Thinking Hats technique is a framework for thinking and decision making introduced by a famous expert in the sphere of creative thinking, invented in the early 1980s – Dr. Edward de Bono, and is licensed by Advanced Practical Thinking (APTT), of Des Moines, Iowa. Organizations such as Prudential Insurance, IBM, Federal Express, British Airways, Polaroid, Pepsico, DuPont, and Nippon Telephone and Telegraph use the Six Thinking Hats method.… Read the rest

April 24, 2024April 24, 2024Abey Francis

What Is a Contact Center and Its Role in the Customer Journey?

The customer service landscape is rapidly evolving, with contact centers at the heart of this transformation. These hubs of communication are critical for engaging with customers across platforms, offering support, and delivering on customer expectations. Understanding what is a Contact Center and its function is vital for any business looking to improve its customer service. In this article, we will delve into the essentials of a contact center’s role in the modern customer journey, and how it can be the key to customer satisfaction and loyalty.

Understanding the Fundamentals of a Contact Center

A contact center is more than just a modern call center; it’s a central point from where all customer contacts are managed.… Read the rest

April 24, 2024April 24, 2024Abey Francis

What Is Customer Lifetime Value (CLV)?

While some companies aim to grow their customer base, the successful ones recognize the importance of increasing customer lifetime value. Loyal customers offer more value to your business‐generating over 10x more revenue. Customer lifetime value is an important concept to understand from a marketing standpoint. The cost of obtaining a customer and gaining that first sale is often much higher than the costs of maintaining the relationship with the customer.

Customer lifetime value (CLV) is a critical metric used to estimate the value of each customer you acquire. It validates whether you’re actually producing a profit. Several companies strive to increase customer lifetime value because they believe it’s a good indicator of business performance.… Read the rest

April 20, 2024April 20, 2024Abey Francis

Customer Value Analysis (CVA)

Whatever product a marketer has to offer in the market, one thing is sure, it’s going to get competition. It depends on the product type and marketplace what degree of competition it’ll get. In highly competitive marketplace, managing the non-price purchase and satisfaction drivers that matter most to customers can positively impact market share. Customers make purchase decisions based on how valuable they perceive the quality of available products or services as they relate to price. Those organization’s that are perceived to offer low value are highly unlikely to attract new customers and retain their existing customers. In a highly competitive market, an organization’s competitive position is determined by the perceived value of its products and services, relative to the competition.… Read the rest

April 20, 2024April 20, 2024Abey Francis

What You Need to Master SEO in 2024

Search engines will continue to play a major role in consumer culture. Businesses today have realized that they need to go over and beyond to make sure their names are at the top of the search engine results pages. With Google’s recent algorithm overhauls that highlight quality content even more, the playing field for SEO is just getting more complex.

In 2024, the same SEO strategies that catapulted many brands to the top before will be obsolete. There’s more that needs to be done to understand buying patterns and harness the powers of AI to make sure your business gets the attention it deserves.… Read the rest

March 29, 2024March 29, 2024Abey Francis