In the emerging global economy, e-commerce and e-business have increasingly become a necessary component of business strategy and a strong catalyst for economic development. Michael Porter (1980) has argued that a firm’s strengths ultimately fall into one of two headings: cost advantage and differentiation. By applying these strengths in either a broad or narrow scope, three generic strategies result: cost leadership, differentiation, and focus. These strategies are applied at the business unit level. They are called generic strategies because they are not firm or industry dependent. Continue reading “How the internet affects Porter’s generic strategy models”
A major question each professional working in an organization often needs to ponder, what he needs in life. Is it the paycheck that counts or is it the job responsibilities? What should be the criteria while selecting and continuing a job? The answer, as is obvious varies from person to person. Continue reading “A Nice Job or Paychecks?”
During the last couple of years, as the world has gone through turbulence having almost faced the worst recession of all times, the consumers have become wary of investments. The plastic-card happy consumer is embarking on an era of thrift. Today, as the consumers are saving more, they also want more value for every penny spent. To add to these woes the depleting material resource base across the world and increasing global population (expected to touch 9 billion by 2050) has only meant that the cost of living will increase significantly in the future. It would thus take a walloping effort from organizations and policy makers across the world to repudiate the Malthusian theory. Continue reading “Innovativeness to Innoventiveness”
Values of Asset
In our communities, cities, states, even countries, there are so many valuable assets. Yet, what’s the most valuable asset? If you said it is your your gold or your business or your dog then you’d be wrong! Did anyone ever tell you that life is controlled by your own hand? You are the most important asset in your life. Why? You are the one who is making the money. You are the one who is receiving the goods. You are the one who gets the benefit. Continue reading “Increase your personal value”
A market entry strategy is the planned method of delivering goods or services to a new target market and distributing them there. This article talks about the critical issues that needs to be considered while entering a new market and suggests a list of actions that would mitigate the risks involved better, and hence successfully enter the market.
A market entry strategy is the planned method of delivering goods or services to a new target market and distributing them there. When importing or exporting services, it refers to establishing and managing contracts in a foreign country. Few companies successfully operate in a niche market without ever expanding into new markets but most businesses achieve increased sales, brand awareness and business stability by entering a new market. Developing a win-win market entry strategy involves a thorough analysis of multiple factors, in a planned sequential manner. Continue reading “A winning framework for market entry strategies”
There is no one best approach to analysis of an management case study. However, a number of general steps and guidelines can be followed to ensure better case analysis. Although the following steps are presented sequentially, it may be necessary during a specific case analysis to reorder or modify them, as they are intended to provide a general framework. Continue reading “How to analyze business case studies”