Tag: Learn What

Learn What? We want to learn, grow, change, grow, live, excel, take steps and do more. Learning is always but learns about the processes and theories to learn … it takes a certain purpose to understand it. How do people learn and key factors enable which effective factors?

Through Wikipedia, learning is the process of acquiring new or revising existing knowledge, behavior, skills, values or priorities. The ability to learn is near humans, animals, and some machines; Some plants have evidence of any kind of education.

Learning something is instantly motivating by an event, but more skills and knowledge are accumulating than the experience repeatedly. Learning-induced change often goes on for a lifetime, and it is difficult to separate the learning material, which is “lost” that cannot recover.

  • What is Developing a Sound Organizational Climate?

    What is Developing a Sound Organizational Climate?

    Developing a sound organizational climate is a long-term proposition. The organizational climate depends upon the organizational behavior system. The organizational climate should represent the goals and philosophies of those who join together to create the organization. The type of climate that an organization seeks is contingent upon the type of people it has, the type of technology, level of education and expect actions of people in it. Also learn, Explain are Evolution, Elements of an Organizational Climate!

    Explain the Developing a Sound Organizational Climate!

    The following techniques are generally helpful in improving the climate of the organization:

    1. Effective Communication System:

    There should a two-way communication in the organization so that the employees know what is going on and react to it. The manager can modify his decision on the basis of feedback received.

    2. Concern for People:

    The management should interest in human resource development. It should work for the welfare of employees and an improvement in their working conditions. For developing a sound organizational climate, the management should have show concern for the people.

    3. Participative Decision Making:

    The management should involve the employees in the decision-making process, particularly those decisions which are related to goal setting and affect them. Participative decision making will make the employees committed to the organization and more Co­operative also.

    4. Change in Policies, Procedures, and Rules:

    The organizational climate can also be changed by making changes in the policies, procedures, and rules. It is a time-consuming process but the changes will also be long-lasting if the workers see the changes in policies, procedures, and rules as favorable to them.

    5. Technological Changes:

    Generally, workers and employees resist any innovative changes. But where technological changes improve the working conditions of the employees, the change will be easily accepted. The better climate will be there if the management adopts innovative changes in consultation with the employees.

    But all the above factors are contingent upon the assumptions of the nature of people in general. For example, the ECONOMIC MAN is basically motivated by money and economic security and hence, economic factors may be used to attract and motivate him. For a SOCIAL MAN, positive social relations and interactions are a must.

    Thus, the creation of a climate where a happy family atmosphere prevails is appropriate for him. The self-actuating man seeks achievement, accomplishment, and meaning in what he does. The organizational climate with a certain degree of freedom is appropriate for him. Thus, in order to build up a sound organizational climate, management must understand the people in the organization.

    The importance must be given to what motivates people’s performance in general and building an overall climate conducive to motivation, a keen insight into the individual in particular and tailoring a personal approach to leadership and job design to which the man will respond with commitment. The different types of people suggest that there cannot be any all-purpose organizational climate.

    Another option for Developing a Sound Organizational Climate!

    A sound organizational climate is a long-term proposition. The climate of each organization is set through an organizational behavior system. However, what should be an organizational behavior model for a given organization is not a universal phenomenon. Organization behavior philosophy derives from both fact and value premises. Fact premises represent how human beings behave, while value premises represent the view of the desirability of certain goals.

    Thus, the organizational climate should represent the philosophy and goals of those who join together to create the organization. Thus organizational climate exists in a contingency relationship with the organization, meaning that the type of climate that an organization seeks is contingent upon the type of people it has, the type of technology, level of education and expectations of people in it.

    The organizational climate is contingent on the assumptions of the nature of people in general. In dealing with people, the total man concept should be taken which is essentially a combination of three different concepts about the nature of human – beings – economic, social and self – fulfilling. Such a classification is different from an earlier classification of man in the context of the decision – making the process.

    The basis of classification of man into three categories derives from the fact that each class of men has a different set of thinking, motivation and hence requires different organizational climate. The economic man is basically motivated by money and long-range economic security and hence the reliance on economic factors to attract, keep and motivate them. For a social man, positive social relations and interactions are a must, within his work environment, man seeks an affinity with fellow employees.

    The creation of a climate where a happy family atmosphere prevails is appropriate for him. The self – fulfilling man seeks achievement, accomplishment, and meaning in what he does. The organizational climate with the premium on a certain degree of freedom is appropriate for the sound organizational climate, managers must understand their people in their organization.

    The importance must be given to what motivates job performance in general and building an overall climate conducive to motivation, a keen insight into the individual in particular, and tailoring a personal approach to leadership and job design to which the man will respond with commitment. The individual differences suggest that there cannot any all-purpose organizational climate.

    Though there are variations in practices, following prescriptions can take as features of a sound organizational climate:

    • An absence of political maneuvering for organizational positions and other personal gains.
    • Linking rewards with performance rather than linking with other considerations such as bold relationship, friendship, and social background.
    • High standard of excellence in every area of operation and evaluation.
    • Encouragement for participation and group decision and its implementation.
    • Encouragement for innovation and freedom to act upon ideas.
    • A high value assigned to interpersonal amity and tolerance of individual differences.
    • High standards of moral integrity in dealing with both internal and external matters.

    These prescriptions can achieve on a long-term basis and more by practice and by presentation alone.

    What is Developing a Sound Organizational Climate - ilearnlot
    What is Developing a Sound Organizational Climate?

    Reference

    1. Developing a Sound,
    2. Another option for Developing a Sound, and
    3. Photo Credit URL.

  • What is Demand? Meaning and Definition!

    What is Demand? Meaning and Definition!

    Demand is an economic principle that describes a consumer’s desire and also willingness to pay a price for a specific good or service. Holding all other factors constant, an increase in the price of a good or service will decrease demand, and vice versa. What is Glocalization? Meaning, Definition!

    Here are discuss What is Demand? Meaning and Definition!

    In economics, demand is the quantity of a commodity or a service that people are willing or able to buy at a certain price, per unit of time. The relationship between price and quantity demands stands also known as the demand curve. Preferences and choices, which underlie demand, can represent functions of cost, benefit, odds, and other variables. Determinants of (Factors affecting) demand Innumerable factors and also circumstances could affect a buyer’s willingness or ability to buy a good. 

    Some of the common factors are:

    The following are below;

    Good’s own price:

    The basic demands relationship is between the potential prices of a good and the quantities that would purchase at those prices. Generally, the relationship is negative meaning that a price increase will induce a decrease in the quantity demands. This negative relationship is embodied in the downward slope of the consumer demand curve. Also, The assumption of a negative relationship is reasonable and intuitive. If the price of a new novel is high, a person might decide to borrow the book from the public library rather than buy it.

    The principal related goods are complements and substitutes. A compliment is a good that uses for the primary good. Examples include hot dogs and mustard, beer and pretzels, automobiles, and gasoline. Perfect complements behave as a single good. If the price of the complement goes up the quantity demanded of the other good goes down.

    Definition of Demand:

    The following definitions below are;

    1. Commerce: A claim for a sum of money as due, necessary, or require.
    2. Economics: (1) Desire for certain good or service support by the capacity to purchase it. (2) The aggregate quantity of a product or service estimated to be bought at a particular price. (3) The total amount of funds which individuals or organizations want to commit to spending on goods or services over a specific period.
    3. The Law: An assertion of a legal right, such as to seek compensation or relief.

    The amount of a particular economic good or service that a consumer or group of consumers will want to purchase at a given price. The demand curve is usually downward sloping since consumers will want to buy more as the price decreases. Demand for a good or service exists determined by many different factors other than prices, such as the price of substitute goods and complementary goods. In extreme cases, demand may be completely unrelated to price, or nearly infinite at a given price. Along with supply, it is one of the two key determinants of the market price.

    Another Definition:

    Demand in economics is how many goods and services are being at various prices during a certain period. It is the consumer’s need or desire to own the product or experience the service. It’s constrained by the willingness and also the ability of the consumer to pay for the good or service at the price offered.

    They are the underlying force that drives everything in the economy. Fortunately for economics, people exist never satisfied. Also, They always want more. This drives economic growth and expansion. Without demand, no business would ever bother producing anything.

    What is Demand Meaning and Definition - ilearnlot
    What is Demand? Meaning and Definition!
  • What is a Dollar?

    What is a Dollar?

    What is a Dollar? Meaning, Definition!

    Dollar (often represented by the dollar sign $) is the name of more than twenty currencies, including (ordered by population) those of the United States, Canada, Australia, Taiwan, Hong Kong, Singapore, New Zealand, Liberia, Jamaica, and Namibia. The U.S. dollar is the official currency of East Timor, Ecuador, El Salvador, Federated States of Micronesia, Marshall Islands, Palau, the Caribbean Netherlands, and for banknotes, Panama. Generally, one dollar is divided into one hundred cents. The Currency, a system of money in general use in a particular country. What is a Rupee? Now, you learn What is a Dollar?

    “The history of the dollar. For symbol “$”, see Dollar sign. The Slovenian philosopher, see Mladen Dolar. The municipality in Spain, see Dólar.”

    Exchange Currency in US Dollar 

    One US Dollar ($1) Rated to Others Country:

    1. 1.38 Australian Dollar
    2. 1.00 Bahamian Dollar
    3. 2.00 Barbadian Dollar
    4. 2.01 Belize Dollar
    5. 1.00 Bermudan Dollar
    6. 1.44 Brunei Dollar
    7. 1.34 Canadian Dollar
    8. 0.82 Cayman Islands Dollar
    9. 2.70 East Caribbean Dollar
    10. 2.13 Fijian Dollar
    11. 207.21 Guyanaese Dollar
    12. 7.76 Hong Kong Dollar
    13. 128.80 Jamaican Dollar
    14. 91.00 Liberian Dollar
    15. 13.96 Namibian Dollar
    16. 32.01 New Taiwan Dollar
    17. 1.44 New Zealand Dollar
    18. 1.44 Singapore Dollar
    19. 7.39 Surinamese Dollar
    20. 6.75 Trinidad & Tobago Dollar

    History of Dollar

    On 15 January 1520, the Czech Kingdom of Bohemia began minting coins from silver mined locally in Joachimsthal (Czech Jáchymov) and marked on the reverse with the Czech lion. The coins were called Joachim’s thaler, which became shortened in common usage to thaler or taler. The German name “Joachimsthal” literally means “Joachim’s valley” or “Joachim’s dale”. This name found its way into other languages: Czech tolar, Hungarian tallér, Danish and Norwegian (rigs) daler, Swedish (riks)daler, Icelandic dalur, Dutch (rijks)daalder or daler, Ethiopian ታላሪ (“talari”), Italian tallero, Polish talar, Persian dare, as well as – via Dutch – into English as dollar.

    A later Dutch coin depicting also a lion was called the leeuwen daler or leeuwen daalder, literally ‘lion daler’. The Dutch Republic produced these coins to accommodate its booming international trade. The leeuwen daler circulated throughout the Middle East and was imitated in several German and Italian cities. This coin was also popular in the Dutch East Indies and in the Dutch New Netherland Colony (New York). It was in circulation throughout the Thirteen Colonies during the 17th and early 18th centuries and was popularly known as “lion (or lyon) dollar”. The currencies of Romania and Bulgaria are, to this day, ‘lion’ (leu/leva). The modern American-English pronunciation of dollar is still remarkably close to the 17th-century Dutch pronunciation of daler. Some well-worn examples circulating in the Colonies were known as “dog dollars”.

    Spanish pesos – having the same weight and shape – came to be known as Spanish dollars. By the mid-18th century, the lion dollar had been replaced by Spanish dollar, the famous “pieces of eight”, which were distributed widely in the Spanish colonies in the New World and in the Philippines.

    Types of Dollar with Countries Bases

      Antigua and Barbuda East Caribbean dollar XCD    
     Australia and its territories Australian dollar AUD 1966-02-14 Australian pound 1910-1966
    Pound sterling 1825-1910
     Bahamas Bahamian dollar BSD   Bahamian pound
     Barbados Barbadian dollar BBD    
     Belize Belize dollar BZD/USD 1973 British Honduran Dollar
     Bermuda Bermuda dollar BMD    
     Brunei Brunei dollar
    (Alongside the Singapore dollar)    		 BND
    (SGD)    		    
     Canada Canadian dollar CAD 1858 Canadian pound 1841-1858
    Spanish dollar pre-1841
    Newfoundland dollar, pre-1949 in the Dominion of Newfoundland
     Cayman Islands Cayman Islands dollar KYD    
     Dominica East Caribbean dollar XCD    
     East Timor United States dollar USD    
     Ecuador United States dollar USD 2001 Ecuadorian sucre
     El Salvador United States dollar USD 2001-01-01 Salvadoran colón
     Fiji Fijian dollar FJD    
     Grenada East Caribbean dollar XCD    
     Guyana Guyanese dollar GYD    
     Hong Kong Hong Kong dollar HKD 1863 Rupee, Real (Spanish/Colonial Spain: Mexican), Chinese cash
     Jamaica Jamaican dollar JMD 1969 Jamaican pound
     Kiribati Kiribati dollar along with the Australian dollar N/A / AUD    
     Liberia Liberian dollar LRD    
     Marshall Islands United States dollar USD    
     Federated States of Micronesia United States dollar USD    
     Namibia Namibian dollar along with the South African rand NAD 1993 South African rand
     Nauru Australian dollar AUD    
     New Zealand and its territories New Zealand dollar NZD 1967 New Zealand pound
     Palau United States dollar USD    
     Saint Kitts and Nevis East Caribbean dollar XCD    
     Saint Lucia East Caribbean dollar XCD    
     Saint Vincent and the Grenadines East Caribbean dollar XCD    
     Singapore Singapore dollar SGD    
     Solomon Islands Solomon Islands dollar SBD    
     Suriname Surinamese dollar SRD 2004 Surinamese guilder
     Taiwan New Taiwan dollar TWD 1949  
     Trinidad and Tobago Trinidad and Tobago dollar TTD    
     Tuvalu Tuvaluan dollar along with the Australian dollar TVD / AUD    
     United States and its territories United States dollar USD 1792 Spanish dollar
    colonial script
     Zimbabwe United States dollar USD   Zimbabwean dollar

    Note: All Countries Dollar exchange rate, 21 December 2016.

    What is a Dollar Meaning Definition - ilearnlot

  • What is an Entrepreneur? Meaning and Definition

    What is an Entrepreneur? Meaning and Definition

    An entrepreneur is an individual, who rather than working as an employee. Also they Founds and runs a small business, assuming all the risks and rewards of the venture. Learn about them before first think what do you know who they are? This article explains to an Entrepreneur with their Meaning and Definition. Also, the stakeholder is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. Definition of Organization!

    Learn and understand, the question What is the meaning of an Entrepreneur? with Definition.

    Stakeholders play a key role in any economy. These are the people who have the skills and initiative necessary to anticipate current and future needs and bring good new ideas to the market.

    Also, Stakeholders who prove too successful in taking on the risks of a startup are reward with profits, fame and continue growth opportunities. Those who fail to suffer losses and become less prevalent in the markets.

    • A person who sets up a business or businesses, taking on financial risks in the hope of profit.
    • A promoter in the entertainment industry.

    What is the definition of an Entrepreneur?

    The following definitions below are;

    “A person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.”

    Entrepreneur Defined as;

    “A person who starts, organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.”

    Who is an Entrepreneur?

    World three best entrepreneur below are;

    Steve Jobs founder of Apple:

    Steve Jobs in Apple
    Steve Jobs was Apple Entrepreneurs and Leader.

    Bill Gates founder of Microsoft:

    Bill Gates in Microsoft
    Bill Gates Microsoft Entrepreneurs and Leader.

    Mark Zuckerberg founder of Facebook:

    Mark Zuckerberg in Facebook
    Mark Zuckerberg Facebook Entrepreneurs.

    An extra explain about Entrepreneur:

    Someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision-maker, decides what, how, and how much of a good or service will produce. A stakeholder supply risk capital as a risk-taker, and monitors and controls the business activities. Also, the stakeholder is usually a sole proprietor, a partner, or the one who owns the majority of shares in an incorporated venture.

    According to economist Joseph Alois Schumpeter (1883-1950), An entrepreneur is not necessarily motivating profit, But regard it. As a standard for measuring achievement or success.

    Schumpeter discovered that they;

    • Greatly value self-reliance.
    • Strive for distinction through excellence.
    • They are highly optimistic (otherwise, nothing would be undertaken), and.
    • They, always favor challenges of medium risk (neither too easy nor ruinous).

    What is an Entrepreneur - ilearnlot
    What is an Entrepreneur? Meaning and Definition. Also, the Image from the Internet,

  • Definition of Organization is Defined by managerial Authors

    Definition of Organization is Defined by managerial Authors

    The word Organization is deriving from the word organism. It means an organized body of connecting interdependent parts sharing a common life. What is the Definition of Organization? The human body consists of hands, feet, eyes, ears, nose, fingers, mouth, etc. Also, These parts are performing their work independently, and at the same time, one part cannot be a substitute for another.

    What is Organization? Meaning and Definition.

    If there is a problem in one limb, the health of the body gets affected. Similarly, if there is a problem in one section, the work of the whole company gets affected. Now You’re learning, What is Definition of Organization?

    You also know about; What is an Organization? Now start what is an organization and some detail of an organization after reading.

    An organization is a mechanism or structure which helps the activities to perform effectively. As well as, the organization establishes to achieve basic objectives. Whatever might be the business objectives, there is a need for organizing. Also, the organization comprises systematically structuring the resources to achieve the pre-set goals of any Endeavor.

    An organization is the detailed arrangement of work and working conditions to perform the assigned activities effectively. Also, the organization consists of different departments. Each department performs its work independently and cannot be a substitute for another.

    The different Definition of Organization:

    A social unit of people that structure and manages to meet a need or to pursue collective goals. Also, all organizations have a management structure that determines relationships between the different activities and the members and subdivides and assigns roles, responsibilities, and authority to carry out different tasks.

    According to Haney; “Organization is a harmonious adjustment of specialized parts for the accomplishment of some common purpose or purposes.”

    According to Allen; “The process of identifying and grouping the work is to perform, defining and delegating responsibility and authority and establishing relationships to enable people to work most effectively together in accomplishing objectives.”

    The meaning of organization is the process and not the company. As well as you know, there are seven functions of management. After the SMART goals are fix, the first and foremost function is planning, which we have discussed earlier. After planning is complete, we have to bring all the resources together in a certain format, which makes it easy for us to take action.

    As detailed earlier, there are four resources viz. men, machines, material, and money which have to bring together in the proportion as per plan. When we talk about the organization, it is not only the organization of men but also the organization of machines, materials, and money. Remember, after planning, we should not jump to action. Organizing is the function of preparing for action. Before we start any action, the resources must properly map.

    Notes: Maybe You will read it; The definitions of all the seven Processes of Scientific Management; Planning, Organizing, Staffing, Directing, Coordinating, Motivating, Controlling. Next post of Functions of Organization.

    Definition of Organization - ilearnlot
    Definition of Organization is Defined by managerial Authors.

  • The Advantages and Disadvantages of Glocalization in International Business!

    The Advantages and Disadvantages of Glocalization in International Business!

    What is the Advantages and Disadvantages of Glocalization in International Business?

    Globalization pulls the countries out, from their detachment into the competitive world. A journey towards new collaborations and unity, it has changed the world into a global village. Both distance and isolation have been terrifically reduced. You have to Learn, the Advantages and Disadvantages of Glocalization in International Business, but learn first, What is Glocalization?

    Globalization integrates trade, technology, investments, and the mobile factors of production like labor and capital. All types of goods ranging from Coca-Cola, Sprite, Louis Philippe shirts, Marie Claire bags, Police sunglasses, to Adidas and Nike shoes are all available in every market globally, all credit to globalization.

    Globalization has been quite a debatable subject. While some are of the opinion that it has a lot of ill-effects upon the society, there exist others who feel exactly the opposite. Some opine that it has made life extremely easier and comfortable. It has however affected the consumers and businesses differently. For a better picture, let us take a look at some of the advantages and disadvantages of globalization.

    Advantages of Globalization

    Employment

    Considered as one of the most crucial advantages, globalization has led to the generation of numerous employment opportunities. Companies are moving towards the developing countries to acquire labor force. This obviously caters to employment and income generation to the people in the host country. Also, the migration of people, which has become easier has led to better jobs opportunities.

    Education

    A very critical advantage that has aided the population is the spread of education. With numerous educational institutions around the globe, one can move out from the home country for better opportunities elsewhere. Thus, integrating with different cultures, meeting and learning from various people through the medium of education is all due to globalization. Developing countries or labor-intensive countries have benefited the most.

    Product Quality

    The onset of international trade has given rise to intense competition in the markets. No longer does one find the limited number of commodities available. A particular commodity may fetch hundreds of options with different prices. The product quality has been enhanced so as to retain the customers. Today the customers may compromise with the price range but not with the quality of the product. Low or poor quality can adversely affect consumer satisfaction.

    Cheaper Prices

    Globalization has brought in fierce competition in the markets. Since there are varied products to select from, the producer can sustain only when the product is competitively priced. There is every possibility that a customer may switch over to another producer if the product is priced exorbitantly. ‘Customer is the King’, and hence can dictate the terms to a very large extent. Therefore, affordable pricing has benefited the consumer in a great way.

    Free Movement of Capital

    Capital, the backbone of every economy, is of prime importance for the proper functioning of the economy. Today, transferring money through banks is possible just by the click of a button, all due to the electronic transfer that has made life very comfortable. Many huge firms are investing in the developing countries by setting up industrial units outside their home country. This leads to Foreign Direct Investment, which helps in promoting economic growth in the host country.

    Communication

    Information technology has played a vital role in bringing the countries closer in terms of communication. Every single information is easily accessible from almost every corner of the world. Circulation of information is no longer a tedious task and can happen in seconds. The Internet has significantly affected the global economy, thereby providing direct access to information and products.

    Transportation

    Considered as the wheel of every business organization, connectivity to various parts of the world is no more a serious problem. Today with various modes of transportation available, one can conveniently deliver the products to a customer located in any part of the world. Besides, other infrastructural facilities like, distribution, supply chain, and logistics have become extremely efficient and fast.

    International Trade

    Purchase and sale of commodities are not the only two transactions involved in international trade. Today, international trade has broadened its horizon with the help of business process outsourcing. Sometimes in order to concentrate on a particular segment of the business, it is a practice to outsource certain services. Some countries practice free trade with minimal restrictions on EXIM (export-import) policies. This has proved beneficial to businesses.

    GDP Increase

    Gross Domestic Product, commonly known as GDP, is the money value of the final goods and services produced within the domestic territory of the country during an accounting year. As the market has widened, the scope and demand for a product have increased. Producers familiarize their products and services according to the requirements of various economies thereby tapping the untapped markets. Thus, the final outcome in terms of financial gain enhances the GDP of the country. If statistics are any indication, the GDP of the developing countries has increased twice as much as before.

    Disadvantages of Globalization

    Health Issues

    Globalization has given rise to more health risks and presents new threats and challenges for epidemics. A very customary example is the dawn of HIV/AIDS. Having its origin in the wilderness of Africa, the virus has spread like wildfire throughout the globe in no time. Food items are also transported to various countries, and this is a matter of concern, especially in case of perishable items. The safety regulations and the standards of food preparation are different in different countries, which may pose a great risk to potential health hazards.

    Loss of Culture

    Conventionally, people of a particular country follow its culture and traditions from time immemorial. With a large number of people moving into and out of a country, the culture takes a backseat. People may adapt to the culture of the resident country. They tend to follow the foreign culture more, forgetting their own roots. This can give rise to cultural conflicts.

    Uneven Wealth Distribution

    It is said that the rich are getting richer while the poor are getting poorer. In the real sense, globalization has not been able to reduce poverty. Instead, it has led to the accumulation of wealth and power in the hands of a few developed economies. Therefore the gap between the elite and the underprivileged seems to be a never-ending road, eventually leading to inequality.

    Environment Degradation

    The industrial revolution has changed the outlook of the economy. Industries are using natural resources by means of mining, drilling, etc. which puts a burden on the environment. Natural resources are depleting and are on the verge of becoming extinct. Deforestation is practiced owing to the non-availability of land, thereby drastically reducing the forest cover. This, in turn, creates an imbalance in the environment leading to climate change and occurrence of natural calamities.

    Disparity

    Though globalization has opened new avenues like wider markets and employment, there still exists a disparity in the development of the economies. Structural unemployment owes to the disparity created. Developed countries are moving their factories to foreign countries where labor is cheaply available. The host country generates fewer revenues, and a major share of the profits fall into the hands of the foreign company. They make humongous profits thereby creating a huge income gap between the developed and the developing countries.

    Cut-throat Competition

    Opening the doors of international trade has given birth to intense competition. This has affected the local markets dramatically. In recent times the standard of living has improved. People are therefore ready to shell out extra money for a product that may be available at a lower price. This is because of the modern marketing techniques like advertising and branding. The local players thereby suffer huge losses as they lack the potential to advertise or export their products on a large scale. Therefore the domestic markets shrink.

    Conflicts

    Every economy wants to be at the top spot and be the leader. The fast-paced economies, that is the developed countries are vying to be the supreme power. It has given rise to terrorism and other forms of violence. Such acts not only cause loss of human life but also huge economic losses.

    Monopoly

    Monopoly is a situation wherein only one seller has a say in a particular product or products. It is possible that when a product is a leader in its field, the company may begin to exploit the consumers. As there exist no close competitors, the leader takes full advantage of the sale of its product, which may later lead to illegal and unethical practices being followed. Monopoly is disastrous as it widens the gap between the developed and developing countries.

    In the current scenario, the key to international success is global marketing. Global marketing is the competency of an economy to market its product in almost every country. It is of utmost importance if the product has to make a mark and sustain globally. A car manufacturer in one country will manufacture its product in a different way than a car manufacturer in another country. But if both the manufacturers want to sell their car in a third country then it must have a global appeal. Global marketing has made known to the customer the existence and benefits of a product in the market giving the product an identity. At the same time, it has failed to keep in mind the wants and needs of every consumer, which are unlimited and several.

    Simply Advantages and Disadvantages of Glocalization

    First of all, glocalization makes sense when a firm faces high pressure for local responsiveness and where there are significant opportunities for leveraging valuable skills within a multinational’s global network of operations. Through glocalization, international products are adapted to the local taste of the population and thereby local communities are introduced to different aspects of foreign cultures. This helps multinational companies to grow and gain the trust of the people of particular regions.

    So, glocalization helps in connecting with the consumers of that region on an emotional level and also leverage its global position. This is the most important aspect that leads to the success of the company. Another positive aspect of glocalization is that multinational companies bring in foreign revenue and offer employment opportunities for locals. Disadvantages of this strategy can be that companies are unable to realize location economies or failure to transfer core competencies to foreign markets. Another disadvantage is that it is really difficult to implement a glocal strategy due to organizational problems. This means that glocalization doesn’t always benefit multinational companies because individuals and groups in each region or country can choose to accept or reject the products offerings or the company’s presence.

    What is the Advantages and Disadvantages of Glocalization in International Business - ilearnlot

    Reference

    1. Advantages and Disadvantages of Glocalization – //www.buzzle.com/articles/advantages-and-disadvantages-of-globalization.html
    2. Simply Advantages and Disadvantages of Glocalization – //www.mbaknol.com/international-business/glocalization-definition-advantages-and-disadvantages/
    3. Photo Credit URL – //images.fastcompany.net/image/upload/w_1280,f_auto,q_auto,fl_lossy/fc/3014641-poster-p-4-reasons-handshakes-go-horribly-wrong.jpg

  • What is Glocalization? Meaning, Definition!

    What is Glocalization? Meaning, Definition!

    Glocalization (a portmanteau of globalization and localization) is the adaptation of international products around the particularities of a local culture in which they are the sale.

    Understanding, What is Glocalization? by Meaning, Definition!

    The process allows the integration of local markets into world markets. “Products or services design to benefit a local market. While at the same time being developed and distributed on a global level. Glocalization is a mixture of and the result of combining the words globalization and localization.” Learn, The Difference between Revaluation and Realization Account.

    Meaning of Glocalization!

    Globalization is one of the most important phenomena of the recent past and the future. The term “Globalization” describes an ongoing process by which regional economies, societies, and cultures are becoming more integrated. Through a dramatic increase in the global network of technological, economic, political, and cultural exchanges. In specifically economic contexts, the term refers to the integration of national economies into the international economy through trade. Particularly trade liberalization or free trade, foreign direct investment, capital flows, migration, and the spread of technology.

    This worldwide phenomenon of interaction among the countries is driven largely by advances in communication, transportation, and legal infrastructure. As well as the political choice of countries to open cross-border links in international trade and finance. Due to many difficulties that a globalization strategy faces another term has been full-blown in recent years calls “Glocalization”. In contrast to globalization, the glocalization strategy, which means thinking globally but acting locally, is a more modern and different approach.

    The term “Glocalization”, had become a buzzword in the business world in 2000. Describes a historical process whereby the local is integrated into the global. This means that localities develop economic and also cultural relationships with the global system through information technologies. Bypassing and subverting traditional power hierarchies like national governments and markets including. Cultures clash with newly introduce cultural concepts, ideologies, and practices. So put simply, globalization is a move toward centralization, while glocalization is a move toward decentralization.

    Definition of Glocalization!

    Glocalization is a combination of the words “globalization” and “localization” and emphasizes the idea that a product or service is full-blown and distributed globally is more likely to succeed. If it is adapted to the specific requirements of local practices, legislation, fiscal regime, socio-political system, cultural expectations, local laws, customs, and consumer preferences. Why do Small Businesses need Corporate Retreats Good for Productivity?

    Today it is possible to understand by glocalization the intelligent adoption of concepts and ideas to the local and regional needs. Instead of having the same products and solutions everywhere. The concept of global localization explains the interactions between global and local dimensions in any strategy like political governance strategies. Business marketing strategies, media and communication strategies, and so on. Globalization also explains the failure of some strong strategies, as they don’t consider the effect of cultural diversity and the strength of local dimensions. It stands more considered as the creation or distribution of products or services intended for a global or trans-regional market but customized to suit local laws or culture.

    What is Glocalization Meaning Definition - ilearnlot

    Reference

    1. What is it? – //en.wikipedia.org/wiki/Glocalization, //www.businessdictionary.com/definition/glocalization.html
    2. Meaning and Definition – //www.mbaknol.com/international-business/glocalization-definition-advantages-and-disadvantages/
    3. Photo Credit URL – //www.theoldmillpitlochry.co.uk/images/offer2.jpg

  • Difference between Leadership and Entrepreneurship

    Difference between Leadership and Entrepreneurship

    Leadership and Entrepreneurship Difference; Sometimes, an entrepreneur and a leader, or say, leadership and entrepreneurship consider as a synonym, i.e. meaning the same thing. But, these two terms mean quite different meanings. Entrepreneurship means a set of attributes that an entrepreneur possesses and practices in starting his /her enterprises. But, leadership is the process of influencing people and providing an environment for them to achieve organizational objectives.

    Learn & Explanation, What is the Difference between Leadership and Entrepreneurship?

    Thus, leadership is quite different from entrepreneurship. Entrepreneurship can include leadership, but not leadership in entrepreneurship. Also, Learn about the Difference Between Management and Leadership!

    Leadership has also implications for entrepreneurial behavior. People with leadership qualities, for example, influencing ability, are found more. Prone to become entrepreneurs and perform entrepreneurial functions more effectively. Research studies (Burns 1978) report that entrepreneurs who blend with leadership attribute often emerge as ‘transformational entrepreneurs. Who replace old and routine things with altogether new sets and standards of work performance. Are Entrepreneurs Made or Born! Explanation Why? 

    They work for change rather than stability. This is because leadership involves a drive, i.e. (high) need for achievement, the most important antecedent to entrepreneurship. This drive represents the inner motivations that entrepreneurs with leadership qualities possess to pursue their goals and encourage others to willingly and enthusiastically move forward to achieve the set goals.

    The relevant leadership qualities or competencies influencing entrepreneurial behavior are inner drives, integrity, self-confidence, intelligence, knowledge concerning the business, and emotional intelligence. One way to distinguish entrepreneurship from leadership can be in terms of their task demands and personal dispositions.

    Difference between Leadership and Entrepreneurship:

    The Following difference is:

    To compare or the difference between leadership and entrepreneurship, we may want to do so in four dimensions already addressed before (and following Cogliser and Bringham, Vecchio): Vision, Influence, Leading in the Context of Innovation/Creativity, and Planning.

    Vision (followers/larger constituency)!
    • A Vision is the main component when inspiring followers toward exemplary performance or other goal-directed behavior as well as organizational performance.
    • The Vision attributes (brevity, clarity, abstractness, challenge, future orientation, stability, and desirability or ability to inspire) and content (growth imagery) are related to new venture growth. Followers need to motivate through involvement, participation, and a professionally meaningful mission.
    Influence!
    • A commonality across many of the various definitions of leadership is the ability to influence others toward a goal. Rational persuasion widely uses for both upward, lateral, and downward influence.
    • Entrepreneurs not only see opportunities (understand the ways and means) but can marshal resources to carry out their vision. The use of rational persuasion and inspirational appeals is likely to be effective when the request is legitimate and in line with the entrepreneur’s values and the constituencies’ needs.
    Leading in the context of Innovation!
    • Leading creative people requires technical expertise and creativity, employing several direct and indirect influence tactics.
    • Entrepreneurial leadership should involve idea generation, idea structuring, and idea promotion.
    Planning!
    • In complex, dynamic environments where people must coordinate their activities, planning represents a key influence on performance.
    • Entrepreneurs have a clear need for the mental awareness of future actions to anticipate potential reactions to strategic choices.

    Entrepreneurship is all about a set of skills and abilities to be as self-sufficient as possible when it comes to business. Meaning that entrepreneurship more focuses on risk-taking, recognizing opportunities, and the ability to be a self-starter.

    Whereas, leadership is about effectively managing the people and resources around you. A great leader isn’t necessarily focused on being a risk-taker, nor are they require to be visionaries. All a leader is primarily focus on bringing people together to execute a common goal.

    What is the Difference between Leadership and Entrepreneurship - ilearnlot
    Difference between Leadership and Entrepreneurship

  • What is the Difference between Efficiency and Effectiveness?

    What is the Difference between Efficiency and Effectiveness?

    Difference between Efficiency and Effectiveness; Efficiency is regularly befuddling with effectiveness. Both efficiency and effectiveness are a basic piece of fruitful administration. All in all, efficiency is a quantifiable idea, quantitatively dictated by the proportion of helpful yield to add up to include. Effectiveness is the less complex idea of having the option to accomplish the ideal outcome, which can communicate quantitatively however doesn’t typically need more convoluted science than expansion.

    Here is an explanation of the Difference between Efficiency and Effectiveness!

    Efficiency can regularly communicate as a level of the outcome that could in a perfect world expect, for instance, if no energy were lost because of rubbing or different causes, in which case 100% of fuel or other info would use to deliver the ideal outcome. This doesn’t generally apply, not even in all cases wherein efficiency can appoint a mathematical worth, for example not for explicit motivation. Treatment of 10 Yoga Poses Better Help Your Back Pain.

    What is Efficiency?

    Efficiency is the (frequently quantifiable) capacity to try not to squander materials, energy, endeavors, cash, and time in accomplishing something or in creating the ideal outcome. In a more broad sense, it is the capacity to do things well, effectively, and without squander. In more numerical or logical terms, it is a proportion of the degree to which info well uses for an expected errand or capacity (yield).

    It frequently explicitly contains the ability of a particular use of exertion to create a particular result with a base sum or amount of waste, cost, or pointless exertion. Efficiency alludes to totally different information sources and yields in various fields and businesses.

    Meaning of Efficiency: The correlation of what is really creating or perform with what can accomplish with similar utilization of assets (cash, time, work, and so on) is a significant factor in the assurance of profitability. See likewise effectiveness.

    What is the Effectiveness?

    Effectiveness is the capacity of delivering the ideal outcome or the capacity to create the ideal yield. When something esteems powerful, it implies it has a proposed or expected result or creates a profound, striking impression. How to Effect of Innovation Culture in Organizations?

    Meaning of Effectiveness: The degree to which destinations are accomplishing and the degree to which focused issues are explaining. As opposed to efficiency, effectiveness decides without reference to costs and, while efficiency signifies “doing the thing right,” effectiveness signifies “making the best choice.”

    The Difference Between Efficiency and Effectiveness:

    Efficiency and effectiveness both usually utilize administration terms. However, while they sound comparable and start with similar letters, the two of them mean various things. Efficiency alludes to getting things done perfectly. Experimentally, it characterizes as the yield to enter proportion and spotlights on getting the most extreme yield with least assets. Effectiveness, then again, alludes to doing the correct things. It continually gauges if the real yield meets the ideal yield.

    Since efficiency ties in with zeroing in on the cycle, significance provides for the ‘way’ of getting things done while effectiveness centers around accomplishing the ‘ultimate objective. Efficiency concerns the current state or ‘business as usual’. Contemplating the future and adding or dispensing with any assets may upset the present status of efficiency. Effectiveness, then again, trusts in meeting the ultimate objective and consequently thinks about numerous factors that may change later on.

    Additional things;

    To be proficient over and over, control and meticulousness are requiring. This can incorporate firmness with the framework. Effectiveness, then again, remembers the drawn-out procedure and is in this manner more versatile to the evolving climate. Since efficiency ties in with doing things right, it demands documentation and reiteration of similar advances. Doing likewise over and over, in a similar way, will absolutely debilitate development. Then again, effectiveness empowers advancement as it demands individuals to figure, the various ways they can meet the ideal objective.

    Efficiency will take a gander at evading missteps or blunders though effectiveness ties in with picking up progress. In the prior long stretches of large scale manufacturing, efficiency was the main exhibition marker for any association. Be that as it may, with purchasers confronting an expanding number of decisions, the effectiveness of an association consistently questions. To be a fruitful association, there should be harmony among effectiveness and efficiency. Just being productive and not meeting the prerequisites of the partners of the association is of little use to anyone. And effectiveness may bring about progress however at what cost?

    The Difference between Efficiency and Effectiveness in Management.

    Efficiency and Effectiveness as expressed by Peter Drucker “Efficiency is doing things right; Effectiveness is making the best choice.” An association endures base on the efficiency and effectiveness of a chief/the executives. Efficiency is the utilization of money related, human, physical, and data assets with the end goal that yield are expanding for some random arrangement of asset information sources or information is limiting for any gives amount and nature of yield.

    An effective supervisor may do the correct work however not the occupation right. Doing the correct employment doesn’t need a lot of time or assets. An occupation can do rapidly and effectively inside time. For this situation, the director’s primary point is to land the position finish inside the allotting time utilizing the given assets. In any case, managing a responsibility viably includes time and arranging the correct methodology. For this situation, the director focuses more on the result as opposed to simply the info.

    In Management;

    Both efficiency and effectiveness are a necessary piece of fruitful administration. The executives predominantly worry about getting things to complete and deciding how to get things achieving. In every administrator’s brain, there is a discussion about whether more concern ought to go into minimal effort creation or negligence. Creation costs and follow the total fulfillment of objectives and goals.

    These two way knows as the choices which separate “Efficiency” and “Effectiveness”. Efficiency implies that the employment was achieved efficiently and on the schedule yet may not be an exhaustive and great achievement. Though, effectiveness implies that the occupation was finished accurately and was achieving. In any case, with no respect to whether the occupation was finished economically or on schedule.

    To show this thought with a basic model, let s take an association that needs to make a promotion for its administration/item. Making the advertisement inside the spending plan and in time is proficient. However, the primary interesting points are the current market pattern and climate. It would require some investment and cash to make a promotion that would shout to the clients.

    Additional information;

    Innovativeness and efficiency alone are insufficient to make the ideal advertisement. A nitty gritty investigation of what the client needs and communicating it as it were. That would speak to the ethos of the client is the thing that needs to make the promotion. Even though this model is definitely not an immediate case of the executives. It is a straightforward method to feature the contrast between efficiency and effectiveness.

    In an association, a pioneer is unique about a supervisor. A decent pioneer isn’t basically a decent chief however a decent director ought to have ideal administration characteristics. A supervisor would someone say someone is who keeps up the equilibrium of effectiveness and efficiency in the organization. How Do You Know Your Company Wants Help From The Outside?

    The contrast between efficiency and effectiveness must make unmistakably understood, as the two are almost indivisible in the business system. Be that as it may, they command two unmistakable perspectives. This significance between the two is critical with regards to dealing with an association. It is additionally important to understand that the two are fundamentally unrelated and that an association can’t get by with just efficiency alone and not effectiveness.

    What is the Difference between Efficiency and Effectiveness - ilearnlot
    What is the Difference between Efficiency and Effectiveness?