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Value vs. Price | Understanding the Difference Between Value and Price

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value vs. price

In our daily lives, we constantly make decisions about buying products and services. Whether it’s choosing a smartphone, selecting a restaurant for dinner, or investing in stocks, we often hear the terms “value” and “price” used interchangeably. However, these two concepts are fundamentally different, and understanding Value vs. Price can significantly improve our decision-making abilities in both personal and business contexts.

Operational Risk Management | Types, Importance, Implementation, PDF

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Operational risk management

Operational Risk Management (ORM) is an essential aspect of any organisation’s strategy for minimizing unexpected disruptions. It is a process that managers and business analysts use to reduce the financial risks that daily business operations may cause. Unlike economic or market risks, which are often easier to quantify, operational risks cover a broad spectrum, from system failures and human errors to natural disasters.

What is Statistical Process Control (SPC)? | Concepts, Working, Benefits, Challenges

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statistical process control spc

In a world driven by precision, statistical process control (SPC) ensures that processes remain within acceptable limits, minimising defects and maximising productivity. It provides businesses with a structured approach to monitoring, controlling, and improving quality. But what makes SPC so indispensable, and how does it work in real-world applications? Let’s explore this powerful tool in detail. The … Read more

SCM Explained: Supply Chain Management in the Age of AI

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supply-chain-management-with-AI

In today’s rapidly growing business environment, Supply Chain Management (SCM) is no longer just about moving products from Point A to Point B. With Artificial Intelligence integration, supply chains are becoming smarter, faster, and more resilient than ever before. In this article, I will explore how AI revolutionises SCM and what it means for businesses, professionals, … Read more

What is Market segmentation? Types, Importance, Examples

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market segmentation

In today’s competitive business landscape, understanding your audience is key to creating truly resonating products, services, and marketing strategies. Market segmentation is a way of aggregating prospective buyers into groups or segments based on demographics, geography, behaviour, or psychographic factors to better understand and market to them. This targeted approach not only improves customer satisfaction but … Read more

What is Organizational Conflict? Types of Organizational Conflict, Causes, Impact, & How to Manage Organizational Conflicts? (PDF Included)

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What is organizational conflict? and how to deal with it?

Conflict within organizations is a common and often unavoidable aspect of workplace dynamics. While conflicts can be disruptive, they can also lead to growth and innovation when dealt with effectively. In this article, we provide a detailed examination of organizational conflict, including its types, impacts, causes, and strategies for resolution, complemented by real-world examples and … Read more