Start Digital Learning Here
Strategies plays an important role in the business. These are the outlines that help in achieving the long term objectives of the business. Also, in this article, we will discuss the approaches of strategy and importance of strategy. Approaches of Strategy Making There are many approaches of strategy. 1. Autocratic Approach The role of the…
Read More “5 Approaches of Strategy | Importance of Strategy” »
The scope of strategy defines the position in the market as the company envisions it. In essence, it provides specifics of the industry or market within which the firm wants to investigate, or more precisely. Also, we will discuss the levels of strategies. Scope of Strategy The scope of markets in which the company will…
The term “strategy” derives from the Greek term “strategia,” which means “generalship.” The term “strategia” came into the business world through military service in the first place. The nature of strategy explains in the next section. It is an outline of an organization that defines its vision and objectives and helps determine the next plan…
Read More “Nature of Strategy with its Meaning for Business” »
Business policies play an essential role in the success of the organization. If these policies are not formulated properly, these are the limitations of business policy for the organization. In the later section of the blog, you will learn the current trends of business policy. Importance of Business Policy The importance of business policy is…
Read More “8 Importance of Business Policy | Limitations | Current Trends” »
Techniques for Organizational Appraisal The techniques for organizational appraisal may classify into the following categories: 1. Value Chain Analysis Value Chain Analysis (VCA) is the method that allows an organization to recognize its primary and supporting functions that make the product more valuable. It also assists in evaluating these processes to decrease costs or increase…
The organizational appraisal is the analysis of the internal business climate is crucial for the formulation of the most appropriate strategy. The strategic decision-makers conduct internal research to gain a clear perspective of the business profile. It gives an accurate analysis of the firm’s strengths and weaknesses. Internal analysis, also known as corporate appraisal, is…
Read More “Organizational Appraisal: 13 Fundamental Factors | Procedure” »
ETOP Study The Environment Threats and Opportunities Profile (ETOP) is the method used to define environmental issues. W.F. Glueck developed the technique. The ETOP classifies different environmental issues across different industries that help the management focus their attention on specific areas. It assists in identifying likely influences that affect the business. In the next section,…
“SWOT” is an acronym to mean “Strength, Weakness, Opportunities Threats” that defines the present position of a company. It determines whether a business is in a favorable or bad position in the market. Although the weaknesses and strengths are internal issues, the threats and opportunities can be external for the company. Examining all these provide…
If the buyers are from different markets or are part of so-called non-competing groups, monopolists might charge different rates for the same products from these markets. Price discrimination and discriminatory monopoly describe the situation. Price discrimination is the practice of charging different prices to customers with varying quantities of the same item. Definition of Price…
Read More “Price Discrimination: 7 Conditions and Objectives” »
Many elements impact the company and its activities. External environmental appraisal can affect the company in positive and negative ways. Recognizing the challenges and issues in the external environmental appraisal is crucial for any business. Also, you will know the levels of environmental appraisal. Meaning of Environmental Appraisal An appraisal of environment within which an…
Read More “3 Remarkable Levels of Environmental Appraisal” »
