Essential Theories and Concepts in Business Analytics
Business Analytics Fundamentals
What is Business Analytics?
Business Analytics refers to the skills, technologies, and practices used for the continuous, iterative exploration and investigation of past business performance to gain insight and drive future business planning. It involves using data and statistical methods to analyze business data and make informed decisions. Key areas include data mining, predictive modeling, and data visualization, all helping organizations make data-driven choices.
Read MoreEssential Business English Prepositions Usage
Common Prepositional Phrases in Correspondence
- The merchandise should be delivered at our Gran Vía premises.
- Payment will be made by promissory note.
- Please, pay urgent attention to this order.
- Delivery must be made within 20 days.
- We will contact you again in the near future.
- The products will be ready for delivery next week.
- Payment will be made in three equal instalments.
- We usually settle our accounts by cheque.
- We look forward to hearing from you soon.
- We will deal with your order immediately.
- We will
Political Economy and Welfare Concepts: Key Exam Solutions
German Electoral Law and Welfare Criteria
German Electoral System Dynamics (Questions 1a–1e)
1a. Second Votes and Candidate Platforms
Due to the Bundestag’s electoral law, the fraction of seats won by political parties is determined by the fraction of so-called second votes received at the national level. The constituency-level election only determines the identity of the elected representative. It follows that the political platforms of the candidates reflect entirely those of their respective
Read MoreEssential Phrases for Professional Business Correspondence
Essential Phrases for Professional Business Letters
1. Salutations
- Dear Mr. Brown,
- Dear Miss White,
- Dear Madam,
- Gentlemen,
2. Starting the Letter
- We are writing to inform you that… (to confirm)
- I am contacting you for the following reasons.
- I am writing to tell you about…
- I would be interested in (obtaining/receiving)…
3. Referring to Previous Contact
- Thank you for your letter of July 23.
- Thank you for contacting us.
- In reply to your request…
- Thank you for your letter regarding…
4. Making a Request
- We
Taylor’s Scientific Management and Key Management Processes
Taylor’s Scientific Management Theory
Frederick Winslow Taylor introduced Scientific Management in the early 20th century to improve industrial efficiency by applying scientific methods to work processes. The main idea was to replace rule-of-thumb methods with the systematic study, measurement, and analysis of tasks.
Key Principles of Scientific Management
- Scientific Study of Work: Analyze each job scientifically to determine the most efficient way to perform it.
- Scientific Selection and Training:
Fundamentals of Global Commerce and Economic Integration
What is International Business?
Definition: International business involves the integration of goods, services, technology, capital, and knowledge across national borders.
It encompasses all commercial transactions that take place between two or more regions, countries, and nations beyond their political boundaries.
These transactions include private (for profit) and governmental (profit and political) activities, such as sales, investments, logistics, and transportation.
Economic resources transacted
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