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Business Acumen
Business acumen, also known as business savviness, business sense or business understanding, encompasses a combination of knowledge, skills, abilities, and experience that enable individuals to comprehend an organization’s operations, functions, and external environment. This proficiency enables the use of business tools and analytical methods to assess situations, make informed decisions, align initiatives with the organization's strategy, and achieve desired outcomes. It is also defined as "keenness and quickness in understanding and dealing with a business situation (risks and opportunities) in a manner that is likely to lead to a good outcome".Reilly, Dr. Raymond R and Reilly, Dr. Gregory P"Building Business Acumen" ''HR West'', December 2009. It involves having a "big picture" view of the business, financial literacy, strategic thinking, problem-solving, and effective communication. The UK government considers business acumen to be a skill required by civil service staff w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Management
Risk management is the identification, evaluation, and prioritization of risks, followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. Risks can come from various sources (i.e, Threat (security), threats) including uncertainty in Market environment, international markets, political instability, dangers of project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, Natural disaster, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root cause analysis, root-cause. Retail traders also apply risk management by using fixed percentage position sizing and risk-to-reward frameworks to avoid large drawdowns and support consistent decision-making under pressure. There are two types of events viz. Risks and Opportunities. Negative events can be classified as risks while positive events are classifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ross School Of Business
The University of Michigan Ross School of Business (branded as Michigan Ross) is the business school of the University of Michigan, a Public university, public research university in Ann Arbor, Michigan. The school was originally established in 1924 as the School of Business Administration. Today, it offers Bachelor's degree, bachelor's, Master's degree, master's, and Doctorate, doctoral degrees, as well as an executive education program. Michigan Ross also collaborates with other colleges and schools at the University of Michigan to offer dual degree programs. Additionally, the school's Executive Education program includes a Distinguished Leader Certificate. Michigan Ross maintains the tenth largest endowment among all List of business schools in the United States, business schools in the United States, with a total of $435 million as of 2016. History Early history (1900–1923) The first business courses were offered at the University of Michigan in 1900. Economics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Behavioral Finance
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory. Behavioral economics is primarily concerned with the bounds of rationality of economic agents. Behavioral models typically integrate insights from psychology, neuroscience and microeconomic theory. Behavioral economics began as a distinct field of study in the 1970s and 1980s, but can be traced back to 18th-century economists, such as Adam Smith, who deliberated how the economic behavior of individuals could be influenced by their desires. The status of behavioral economics as a subfield of economics is a fairly recent development; the breakthroughs that laid the foundation for it were published through the last three decades of the 20th century. Behavioral economics is still growing as a field, being used increasingly in res ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Simulation
Business simulation or corporate simulation is business simulations used for training, education or analysis. It can be scenario-based or numeric-based. Most business simulations are used for business acumen training and development. Learning objectives include: strategic thinking, decision making, problem solving, financial analysis, market analysis, operations, teamwork and leadership. The business gaming community seems lately to have adopted the term business simulation game instead of just gaming or just simulation. The word simulation is sometimes considered too mechanistic for educational purposes. Simulation also refers to activities where an optimum for some problem is searched for, while this is not usually the aim of an educational game. On the other hand, the word game can imply time wasting, not taking things too seriously and engaging in an exercise designed purely for fun. The concept of simulation gaming seems to offer the right combination and balance between ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Group Leader
''Breaking Bad'' is a crime drama franchise created by American filmmaker Vince Gilligan. It started with the television series ''Breaking Bad'' (2008–13), and is followed by a prequel/sequel series, ''Better Call Saul'' (2015–22), and a sequel film, '' El Camino: A Breaking Bad Movie'' (2019). The following is an abridged list of characters appearing across the productions. Main characters Cast table Introduced in ''Breaking Bad'' Walter White Walter Hartwell White (also known by his alias Heisenberg) (played by Bryan Cranston) is an overqualified high school chemistry teacher from Albuquerque, New Mexico. After being diagnosed with lung cancer, he starts manufacturing methamphetamine to provide for his family upon his death. Knowing nothing about the drug trade, he enlists the aid of his former student, Jesse Pinkman, to sell the meth he produces. Walter's scientific knowledge and dedication to quality leads him to produce crystal meth that is purer and more p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ram Charan (consultant)
Ram Charan (Hindi राम चरण; Uttar Pradesh, 1939) is an Indian-American business consultant, speaker, and writer resident in Dallas, Texas. Career Charan has consulted for companies such as GE, KLM, Bank of America, Praxair and Jaypee Associates. He is the author of various books on business, including ''Talent Masters'', ''Leaders At All Levels, ''Leadership in the Era of Economic Uncertainty: The New Rules for Getting the Right Things Done in Difficult Times'', ''Boards That Deliver'', ''What The CEO Wants You To Know'', ''Boards At Work'', ''Every Business Is A Growth Business'' (with Noel Tichy), ''Profitable Growth Is Everyone's Business'', ''Confronting Reality'', ''Know How'' and ''Execution'' (with Larry Bossidy and Charles Burck), which was a best-seller.Man of Mystery Jennifer Reingold, ''Fast Company'', #78 (Fe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Necessity And Sufficiency
In logic and mathematics, necessity and sufficiency are terms used to describe a material conditional, conditional or implicational relationship between two Statement (logic), statements. For example, in the Conditional sentence, conditional statement: "If then ", is necessary for , because the Truth value, truth of is guaranteed by the truth of . (Equivalently, it is impossible to have without , or the falsity of ensures the falsity of .) Similarly, is sufficient for , because being true always implies that is true, but not being true does not always imply that is not true. In general, a necessary condition is one (possibly one of several conditions) that must be present in order for another condition to occur, while a sufficient condition is one that produces the said condition. The assertion that a statement is a "necessary ''and'' sufficient" condition of another means that the former statement is true if and only if the latter is true. That is, the two statements mu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Literacy
Financial literacy is the possession of skills, knowledge, and behaviors that allow an individual to make informed decisions regarding money. Financial literacy, financial education and financial knowledge are used interchangeably. Financially unsophisticated individuals cannot plan financially because of their poor financial knowledge. Financially sophisticated individuals are good at financial calculations; for example they understand compound interest, which helps them to engage in low-credit borrowing. Most of the time, unsophisticated individuals pay high costs for their debt borrowing. Raising interest in personal finance is now a focus of state-run programs in Australia, Canada, Japan, the United Kingdom, and the United States. Understanding basic financial concepts allows people to know how to navigate the financial system. People with appropriate financial literacy training make better financial decisions and manage money than those without such training. The Organizatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Complexity
Complexity characterizes the behavior of a system or model whose components interact in multiple ways and follow local rules, leading to non-linearity, randomness, collective dynamics, hierarchy, and emergence. The term is generally used to characterize something with many parts where those parts interact with each other in multiple ways, culminating in a higher order of emergence greater than the sum of its parts. The study of these complex linkages at various scales is the main goal of complex systems theory. The intuitive criterion of complexity can be formulated as follows: a system would be more complex if more parts could be distinguished, and if more connections between them existed. , a number of approaches to characterizing complexity have been used in science; Zayed ''et al.'' reflect many of these. Neil Johnson states that "even among scientists, there is no unique definition of complexity – and the scientific notion has traditionally been conveyed using partic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Michigan
The University of Michigan (U-M, U of M, or Michigan) is a public university, public research university in Ann Arbor, Michigan, United States. Founded in 1817, it is the oldest institution of higher education in the state. The University of Michigan is one of the earliest American research universities and is a founding member of the Association of American Universities. In the fall of 2023, the university employed 8,189 faculty members and enrolled 52,065 students in its programs. The university is Carnegie Classification of Institutions of Higher Education, classified among "R1: Doctoral Universities – Very high research activity". It consists of nineteen colleges and offers 250 degree programs at the undergraduate and graduate levels. The university is Higher education accreditation in the United States, accredited by the Higher Learning Commission. In 2021, it ranked third among American universities in List of countries by research and development spending, research expe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Relations
Public relations (PR) is the practice of managing and disseminating information from an individual or an organization (such as a business, government agency, or a nonprofit organization) to the public in order to influence their perception. Public relations and publicity differ in that PR is controlled internally, whereas publicity is not controlled and contributed by external parties. Public relations may include an organization or individual gaining exposure to their audiences using topics of public interest and news items that do not require direct payment. The exposure is mostly media-based, and this differentiates it from advertising as a form of marketing communications. Public relations often aims to create or obtain coverage for clients for free, also known as earned media, rather than paying for marketing or advertising also known as paid media. However, advertising, especially of the type that focuses on distributing information or core PR messages, is also a part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
