mba in 140 characters

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What’s leadership?

#ThoughtCommons Leadership is about understanding and telling everyone what objectives are worth chasing.

What’s objective?

#ThoughtCommons Objective is what an organization ultimately wants to achieve.

What’s goal?

#ThoughtCommons Goal is small-small thing one needs to score to achieve a bigger objective overtime.

What’s management?

#ThoughtCommons Management is getting all things done required to achieve objectives set by leadership.

What’s balanced scorecard?

#ThoughtCommons Balanced Scorecard is a small report which tells you how are your performing on different objectives.

What’s benchmarking?

#ThoughtCommons Benchmarking is doing things better, faster and cheaper by comparing how you do things with how others do them.

What’s business intelligence?

#ThoughtCommons Business Intelligence is knowing a lot of things about past, present and future to make better business decisions.

What’s business operations?

#ThoughtCommons Business Operations include all activities involved in making what you sell.

What’s centralization?

#ThoughtCommons Centralization is when few people do all of a particular thing (mostly planning) in an organization.

What’s change management?

#ThoughtCommons Change Management is changing things slowly and smoothly from what they are to what they should be without shocking anyone.

What’s communications management?

#ThoughtCommons Communications Management is getting your messages across to the right people in the cheapest and the most impactful way.

What’s human resource management?

#ThoughtCommons Human Resource Management is doing everything to have right number of right people working in a smooth work environment.

What’s business ethics?

#ThoughtCommons Business Ethics remind you not be naughty, dirty and evil while working.

What’s corporate governance?

#ThoughtCommons Corporate Governance is balancing conflicting interests of shareholders, leaders, employees, customers, suppliers & society.

What’s corporate social responsibility?

#ThoughtCommons Corporate Social Responsibility is doing some social work to tell a set of people that you care about them.

What’s financial management?

#ThoughtCommons Financial Management is making sufficient money available for all required things at all times.

What’s accounting?

#ThoughtCommons Accounting is noting down neatly what you paid money for and what you got money for.

What’s assets?

#ThoughtCommons Assets are all things an organization owns.

What’s liabilities?

#ThoughtCommons Liabilities are all things an organization owes to others.

What’s capital?

#ThoughtCommons Capital is what an organization is left with if it sells everything it has and pays off everything it owes to others.

What’s fixed cost?

#ThoughtCommons Fixed Cost is what an organization spends even if it is not making anything and sitting idle.

What’s variable cost?

#ThoughtCommons Variable Cost is what an organization spends in addition to its fixed cost when it starts making something.

What’s economics?

#ThoughtCommons Economics is about understanding what needs to satisfy with our limited resources and what needs to let go.

What’s law of demand & supply?

#ThoughtCommons Law of Demand & Supply says costlier a product, consumers want to buy less & sellers want to sell more. Vice-versa.

What’s capitalism?

#ThoughtCommons Capitalism is when people are free to accumulate wealth and few become richer than others.

What’s socialism?

#ThoughtCommons Socialism is when only government accumulates wealth and all are financially equal.

What’s GDP?

#ThoughtCommons GDP is total price of all the things made in a country in a year.

What’s inflation?

#ThoughtCommons Inflation is when things become costlier.

What’s deflation?

#ThoughtCommons Deflation is when things become cheaper.

What’s globalization?

#ThoughtCommons Globalization is when the world behaves like one country when it comes to business.

What’s liberalization?

#ThoughtCommons Liberalization is when government stops behaving like a strict and unreasonable parent to organizations.

What’s marketing?

#ThoughtCommons Marketing says understand what people want, get it made, tell them why they should buy it from you and deliver it to them.

What’s strategy?

#ThoughtCommons Strategy is the smartest way to achieve what you want to achieve.

What’s placement?

#ThoughtCommons Placement is making it easy for people to buy your products by making them available wherever they want.

What’s promotion?

#ThoughtCommons Promotion is giving people more reasons to buy from you.

What’s PEST analysis?

#ThoughtCommons PEST Analysis is understanding impact of politics, economy, society and technology on your business.

What’s SWOT analysis?

#ThoughtCommons SWOT Analysis is understanding what you are good & bad at and knowing what can you get lucky and unlucky with.

What’s differentiation?

#ThoughtCommons Differentiation is being different and better from others.

What’s economies of scale?

#ThoughtCommons Economies of Scale is when you can make something at lesser cost because you are making a lot of it in bulk.

What’s brand?

#ThoughtCommons Brand is the impression a company or a product leaves in minds of people.

What’s integrated marking communication?

#ThoughtCommons Integrated Marketing Communication is talking to your customers at every possible place with the same message.

What’s project management?

#ThoughtCommons Project Management is getting something done in the cheapest and best way within given time.