Corporate Social Responsability (CSR): What Does it Mean?
Corporate social responsibility refers to the commitments a company makes to create a positive impact on people, the planet, and society. CSR is a self-regulating business model, meaning businesses are responsible for implementing and overseeing their own CSR. There isn’t an external regulatory body that mandates CSR.
World Competitiveness Ranking - IMD Business School
Singapore is the most competitive economy out of 67 across the world’s eight major regions. This is a major finding of the 2024 IMD World Competitiveness Ranking (WCR), which measures economies with population size and GDP on both ends of the scale. Switzerland was second and Denmark third, while Nigeria, Ghana, and Puerto Rico made their débuts.
Innovation in business: Importance, benefits, & examples
A few benefits of innovation for both old and new business models include: Gain a competitive advantage. Innovation can help you develop unique products and services that set you apart from competitors. Over 80% of digitally mature companies cite innovation as one of their core strengths. Meet customer demands.
Risk Management: understanding the basics and importance
Finance. In the financial sector, risk management is crucial for banks, insurance companies, and investment firms. These institutions face a wide range of risks, including credit risk, market risk, operational risk, and liquidity risk. Effective risk management practices in the financial industry help ensure stability and prevent financial crises.
ESG: environmental, social, & governance investing explained
ESG stands for “environmental, social, and governance,” and is a framework that considers non-financial factors impacting a company’s long-term success. ESG criteria include environmental sustainability, social impact, and the quality of a company’s governance practices. In this article, we’ll explore each component of ESG investing ...
SWOT analysis: how to do it + 4 examples - IMD Business School
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. These are the lenses through which we examine internal factors (the things we’re good at and not-so-good at, under our control) and external factors (circumstances we can’t control). This analysis is commonly structured into a visual representation made up of four quadrants ...
Business Ethics: how does it drive sustainable success?
Business ethics, the application of moral principles in a business setting, plays a pivotal role in shaping a company’s reputation and success.It entails adhering to values and standards that promote transparency, fairness, and honesty in business interactions. A solid reputation, built through ethical practices, is invaluable for a company.It attracts …
What is performance management, and why is it important?
Performance management involves consistent check-ins between managers and employees, encompassing goal-setting and progress evaluation through tracking performance indicators and metrics, such as sales data or growth in consumer engagement. The main function of performance management is to provide ongoing feedback to employees to drive ...
Internet of Things: What it is and the main IoT trends
The Internet of Things (IoT), or the ecosystem of connected devices, isn’t just a futuristic concept. In 2022, 871 million smart home devices were shipped globally, a figure predicted to soar to 1.23 billion in 2027. From smart homes and smart watches to cloud computing for industrial applications, the benefits of IoT are reshaping business.
What is Innovation Strategy? Stages, types & examples - IMD …
An innovation strategy is a detailed roadmap with a series of strips that helps your organization reach its future goals. This roadmap isn’t just a guide for business success — it’s a guide that helps you keep up in your industry by thinking of new and innovative ways to tackle problems. These innovations can be creating new products to ...