Sholars and theorists have defined theories in varied ways and every different definition implies how theory can do wonders for us. Theories have been defined as “set of interrelated propositions” (Hoover, 1984), “set of systematic hunches” (Burgoon, 2012) “set of systematic generalization” (Severin & Tankard Jnr., 1982) “set of ideas” (McQuial, 1983).
Crafting and executing strategy are the heart and soul of managing a business enterprise. But exactly what is involved in developing a strategy and executing it proficiently? What are the various components of the strategy formulation, strategy execution process, and to what extent are company personnel—aside from senior management—involved in the process?
A corporation is a mechanism established to allow different parties to contribute capital, expertise, and labor for their mutual benefit. The investor/shareholder participates in the profits (in the form of dividends and stock price increases) of the enterprise without taking responsibility for the operations.