Top MBA Colleges in Kochi, Kerala | Best MBA Colleges in Kochi, Kerala

Permission marketing is a marketing approach to sell goods and services in which the intended audience i.e., the consumers receive promotional messages upon consent from them. First coined by Seth Godin in one of his books later became constantly used in Internet marketing tactics. Opt-in email is a good example of permission marketing where users sign up in advance to a website’s information about certain brand’s product/service. Permission marketing is considered to be an effective approach as the project is more receptive to a message, requested in advance. It is also more cost-efficient as the prospect or target audience is easily identified and targeted. With digital platforms like email and social network a direct access to consumers is possible removing many overhead costs. Subscription to SMS, newsletters, RSS feed, blogs or loyalty cards are opportunities for permission marketing. The process of permission marketing begins with the business offering something va...

Buyer Persona is a semi-fictional representation of a brand’s ideal customer based on market research. Being a research-based profile it describes who your ideal customers are, their challenges and decision making patterns. This provides a complete structure and insight to determine where a company should focus their time on, guide product development and also allow alignment across the organization. As a result, the company will be successful in attracting more valuable visitors, leads and convert them into their customers. A company should go deep into sources that provide insights into attitudes, concerns and criteria influencing the buying decision. With this data, companies align marketing decisions according to their buyer’s expectations. To collect such data, refer industry articles about the present consumers, conduct online surveys or personal interviews, analytics tools for websites, etc. Buyer Personas guide a company in many ways. Building effective marketin...

Monthly Recurring Revenue (MRR), as the name suggests, is a consistent amount of income that a business receives every month. Used by subscription businesses and SaaS (Software as a Service) companies, MRR is used to anticipate their 30 days income for the subscription of a company’s product or service. It has emerged to become a significant metric for calculating a business’ revenue when compared to traditional metrics. As a business grow, it is equally important for it to identify the factors that lead to a change in MRR values over a period of time. And the total amount of such recurring revenues that a brand loses to account cancellations or closures are called as MRR churn. MRR values for a brand can be improved by charging the right amount from your users and providing the users exactly what they want. Often, businesses tend to charge less for their offerings on the thought of losing out customers. The amount you receive from your users and the value they get fro...

The difference of Business Administration (MBA) and Master of Science (MS). An MBA is ideal on the off chance that you are occupied with overseeing and regulating an IT association inside a business. An MS can enable you to end up a specialist in your general vicinity of IT examine. MBA  The MBA self-planned specialization gives a prologue to basic business disciplines, including IT-centered administration of a business. Investigation and authority are woven all through t program to enable you to fabricate administration abilities and utilize information to share authoritative choices. Since oneself planned choice enables understudies to pick their very own elective courses, graduates are presented to various aspects of the business. MBA applicants will figure out how to: Apply essential learning and a comprehension of business frameworks, procedures, and innovation inside and crosswise over main regimens disciplines.  Coordinate data crosswise ove...

I learned plenty from some of the books listed below that I didn’t get to learn in my MBA! I hope you enjoy this list and find something useful to pick up next time you’re at the bookstore. 1. How To Win Friends & Influence People How To Win Friends & Influence People will teach you how to do it successfully. You might think charm and charisma are natural traits, but this book actually gives you a step-by-step guide on how to woo anyone. 2. The Corner Office The Corner Office was actually one of my MBA textbooks. It’s an easy read, but full of great perspectives and advice from prominent leaders. If you need something that’s ooey-gooey feel-good and chock-full of quotables, this is it. It’s reading you can pick up to take a break from the numbers and figures, without feeling like your shirking work. 3. Why Popcorn Costs So Much At The Movies This book introduced me to more technical economic concepts, like price elasticity. When those terms came up in my econom...

The growth of the internet has influenced a range of electronic commerce services such as customer training, delivering technical support and management development programmes. Listed below are the factors governing the growth of business services in industrial marketing. • Innovations – Innovations in the field of science and technology which includes advancement in computer security systems, computer-enabled services, and environmental control systems for office and factory buildings, etc. have an increasing demand in the area of business services. • Outsourcing – In areas like management information functions, HR, payrolls, warehousing etc. where the company does not have the expertise, the ongoing trend is for outsourcing these activities. • E-business – Services like supply chain management, customer service, and support are carried out through internet apart from other usual ITES and thus, the internet is creating new business opportunities. • The growth of the manufa...

The economic system is broadly classified into three categories including capitalism, socialism and the mixed economy. Here is a brief guide about these three major types. ·          Capitalism  – It is the economic system based on free enterprise. AN important feature is individual ownership of resources. Individuals can conduct any type of business with control and command over various resources. The main objective of the system is to maximize the private gains. ·           Socialism  – It refers to the economic system in which the resources are owned by the state or state-owned institutions. Production is not intended for maximizing the profits of individuals or organizations, but for the interest of the society. The government decides the type of productive efforts to be permitted in this economic system. ·      ...

Individuals or groups who are involved in the formulation, implementation, and evaluation of strategy are called strategists. There are various kinds of strategists in an organization. Here are the different type of strategists in a business organization. ·         Board of directors – They are the owners of an organization like the shareholders, controlling agencies, financial institutions etc. ·         Chief Executive Officer – The CEO is answerable for all aspects of strategic management starting from the formulation to evaluation. ·         Entrepreneurs – These are the strategists who start a new business and are implementers and evaluators of strategies. ·          Senior Management – They include managers at the highest level managerial hierarchy and look after renovation, the progression of technology, etc. ...

Even though entrepreneurs are innovators and create new opportunities, they might possess personal traits and behaviours that can harm their roles as managers or workers. Following are the reasons that create drawbacks in entrepreneurship. • Life cycle of business venture – Entrepreneurial development stages can sometimes fail due to life cycle of business venture. Entrepreneurs are most likely to face an increasing risk and potential for business failure during the start-up stage as market demand is not very certain and profits are less. • Failure of new small firms – Managerial incompetence, lack of experience, low financial control, absence of strategic management, incorrect or inappropriate place, having not enough inventory control and failure to create entrepreneurial transitions or changes can be the common causes of failure. • Making wrong decisions – A manager might not have detailed knowledge of probabilities of what might happen in the future, which might contrib...

A research report is drafted with the purpose of presenting the facts in its true form for the people to understand. The research report requires reader orientation, purpose orientation, time orientation, and technology orientation. The steps in writing a report are listed below. • Organization of thought – It involves how the report has to be presented in the most important starting point in the journey of preparation of a research report. • Acquaintance with research – Full acquaintance with research is important. It is facilitated by notes and accuracy and adequacy are vital. • First draft – It concentrated on a substance that is the fullness of facts where all the facts of value are to be brought together. It should also have balance, proportion, and development in facts. • The second draft – After writing the first draft, a revision is made for writing the second draft. In the second draft, the researcher should concentrate largely on form and language. • Third dr...

Market failure can be defined as the situation with the inefficient allocation of goods and serviced by the free market. Here are the reasons that lead to market failure. • Inadequate competition – It exists when the economy market is a monopoly where the market is controlled by one person or a small group of people. • Inadequate information – In the absence of adequate information, it is difficult to employ and distribute resource at an efficient level. • Resource immobility – When resources are restricted, it can lead to market failure as resources can be allocated at an inefficient level. • Externalities – It can be defined as an economy side effect that either benefit or harm a third party who is not directly involved in the activity. • Public goods – These are those goods that are collectively consumed by the whole society like roads, national defense, police, fire protection etc. These lead to market failure as no payment is made on public goods. • Imperfect com...

A powerful strategist is required to play important roles of varying capacity in an organization. Here is a brief guide on some of the diverse roles a strategist has to carry out. • A strategist must act as a soothsayer or seer who guides his team to imagine the future world in which they need to compete. They identify the organization’s competencies and unique strengths and encourages imaginative thinking to help the team to visualize the future. • A strategist should also be a sculptor strategist who carves out a unique role or purpose for the organization and predicts why the organization will be successful according to the soothsayer’s imagined future. He also provides the future shape of the organization by defining how its future customers will choose to support it. • A strategist should also be a politician who is skilled in the art of maneuvering and manipulation. He will know the power players in the organization and will drive each leader to motivation. • When a ...

Organisations should institutionalize the innovation process to help sustain a competitive advantage and to ensure future success. The internal environment should have creative thinking as central to the values, assumptions and actions. Here are the positive effects of an innovation culture in organisations. ·         Promotes individual growth – With an employee’s willingness to invest time for creative energy at work, an innovation culture promotes individual growth. When the employee believe that their own development and growth are valued by the employer, his is more likely to make innovative contributions. ·         Builds confidence – Experimenting with innovative solutions are more likely to instil confidence in employees. And along with encouragement, there are greater chances for developing one’s skills and abilities. ·         Optimizes work environment – Bring...

Hiring good people is a crucial source for competitive advantage for an organization. And the recruitment procedure can be consequential in deciding the future of the company. Here are the best practices that are advised for recruitment and selection. • Anticipate the need – The companies should anticipate that the top talents are bound to leave and should conduct a proactive analysis of the future needs. A potential pool of talent should be evaluated and periodic forecasts of the company’s needs should be made. • Specify the job – A job analysis is an important part of the job description and should provide the management the information about the complexity, tasks and behaviour related to the job. • Develop the pool – A pool of prospective candidates can be made through internal or external sourcing. Internal sourcing is based in formal planning means like vacancies and retirements, while external sourcing widens the pool of candidate available. • Assess the candidates –...

Fiscal policy is the government’s tax efforts, public expenditure and public borrowing with which the government promotes and exercises control over consumption, investment and saving habits. Here are the key objectives of fiscal policy. • The first and prime objective is to maximize the aggregate saving. This is achieved by encouraging people to reduce the current and future consumption. • Maximization of capital information is referred to as the second objective. The country tries to achieve an accelerated economic growth with this objective. • Third objective is to divert the available resources from the less productive to most productive purposes. This resource allocation also refers to assigning available resources of the economy to specific uses. • Fiscal policy helps protect the economy from inflation from preventing it from consuming the benefits of growth. • The policy also helps remove the sectoral imbalance in the economy during the growth process. • It pr...

A business cannot stay independent of external influencing factors even though it has absolute control over internal factors. A business environment gains significance in this context and it refers to the influences exerted by external factors on the business. Here is a brief guide on all the external environment factors that affect business. •nDemographic Environment – It described the size and behavior of the population in a country which provides opportunities for the businesses. • Economic Environment – It includes the overall economic factors like the economic philosophy of the country, economic structure, policies, etc. which have a serious impact. • Geographical and Ecological Environment – This refers to the climatic conditions and natural resources which determine the nature and scope of products. • Legal Environment – This is the set of legal regulations that govern the business organizations. • Technological Environment – It determines the destiny of busines...

Business law, also called commercial law is a branch of law that deals with legal rights, duties and liabilities of parties involved in different types of business transactions that are related to commerce, trade, sales, merchandising, etc. Below listed are the important features of business law. • It is a commercial law that deals with all the aspects of entering into selling and purchasing agreements. • It includes the study of law of contract which is vital in setting up the agreements and contracts that involve the parties buying and selling things in exchange for a purchase price. • Business law also explains the rights, duties, liabilities and legal obligations of parties involved in the contract of sales or purchase or other kind of contract for the purpose of any business or commercial activity. • It also includes the intellectual property law which involves the patents, trademarks, copyrights, etc. as well as the consumer protection law. • Business law also ap...

Family business offer a myriad of advantages which are not often found in other enterprises. Here are some of the advantages specifically related to family businesses. • Common values – A family tend to share the same ethos and beliefs on how things are done. This shared values also impart a sense of purpose and pride which often give a competitive edge over other businesses. • Strong commitment – As it is the pride of the family that is involved in a business venture, all are likely to put in extra efforts and do things with a strong commitment. • Loyalty - Strong personal bonds inside the family also strengthens loyalty to the common mission. Members are most likely to stick together during trying times and will show the determination needed for success. • Stability – As a long term planning for future generations are also involved in setting up a successful family business, everyone will try to strive for growth and success which ensures stability. • Decreased co...

Guerrilla marketing is an advertising strategy which pushes on effective low-cost unconventional marketing tactics that yield maximum results. The term was first conceived by Jay Conrad Levinson in his book Guerrilla Marketing inspired from guerrilla warfare. Guerrilla marketing is all about taking your customer by surprise and creating a social buzz. This advertising gimmick relies heavily on unconventional modes of marketing, high energy and imagination. The key focus is that buyers feel special, privileged, positively surprised or thrilled on the interaction with the brand. Often, the conventional mode of advertisements through television, radio, hoardings doesn’t serve the actual purpose of holding the attention of the audience. This is where guerrilla marketing wins with the unconventional ways. Guerrilla marketing is often ideal for small businesses that need to reach a large audience without spending much. It’s used by big companies in sync with their o...

Internal Business is one of the types in different business plan models. As the name indicates, this business plan is more focused on the internal audience and more suitable when you are planning for a new project or business unit inside a company. An internal business plan can be as definite as to design a plan for a specific project which the company is working on or can be broad as the overall goals and missions of the company. First and foremost step in creating an internal business plan is Create a mission statement for the plan. If the business has already an external business plan, the mission statement of that plan should be similar to that of the internal statement. Though, the internal mission statement is narrower in its focus and concentrates more on the practical functions of the business. The internal business plan identifies current and future opportunities. But the focus will be deepened towards that project or department. Suppose if you are creating...