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”
E-markets have been established in many industries as a sourcing option for buyers. Research has implied that the e-markets have substitutional effect on the traditional supply chain, yet in many situations, e-markets are used by buyers as a benchmarking tool in negotiations with traditional suppliers. The late 1990s and early 2000s have seen the rise and fall of many e‑marketplaces. Despite being hyped for their ability to benefit firms through dynamic pricing as well as lower transaction costs, most e‑markets failed, never reaching their expected potential. Continue reading “How e-markets affect the supply chain”
Business requirements often seem an impossible target for most of us when they are chalked out. What creates a difference in the successful completion of the same is how one plans out the fulfillment of the same. Planning is the crucial part which many professionals fail to pay sufficient importance to. Continue reading “How to meet impossible business requirements”
Facebook is a free website for world-wide social networking. It’s the second most popular website on the internet with more than 100 million users. If you have a business or product that you want to promote to the public, Facebook serves as the perfect, no cost outlet for advertising. You can fill your profile page with information about your business opportunity and allow your friends to discover the benefits of your services for themselves.
Today, the dynamics of marketing are changing as rapidly than most marketers are comfortable about. Just a few days ago, the focus shifted from a transactional viewpoint to relationship marketing. Today the dynamics are again slowly shifting from relationship marketing to database marketing. Check out what the marketing guru Philip Kotler of Kellogg School of Management says about how understanding this change in dynamics will be crucial for senior managers of MNCs. Continue reading “Philip Kotler on using IT for Marketing”
A small comic strip about how IT projects are developed. There develops a gap in the expected product / solution from the client’s side and from the development team’s understanding of the requirements. There is always a gap in communication which creates such problems in the industry. Continue reading “How IT projects are made”
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.
Porter, the strategy guru, used concepts developed in Industrial Organization (IO) economics to derive five forces which determine the competitive intensity and therefore attractiveness of a market. This model describes the attributes of an attractive industry and thus suggests that opportunities will be greater, and threats less, in these kinds of industries. Attractiveness in this context refers to the overall industry profitability. An “unattractive” industry is one where the combination of forces acts to drive down overall profitability. A very unattractive industry would be one approaching “pure competition”. Continue reading “How the internet affects Porter’s 5 forces model”
Before I dive into the depths of this somewhat perceived as a dirty topic, I feel a disclaimer is appropriate that the text you find below is just a scientific and logical analysis of data and need not necessarily be considered as my personal opinion to influence the opinion of others. Continue reading “Corruption is Business – Part 1”
Randy Pausch from Carnegie Mellon university, is one person the world will miss. Professor Randy Pausch (Oct. 23, 1960 – July 25, 2008) gave his last lecture at the university Sept. 18, 2007, before a packed McConomy Auditorium. In his moving presentation, “Really Achieving Your Childhood Dreams,” Pausch talked about his lessons learned and gave advice to students on how to achieve their own career and personal goals. Continue reading “Randy Pausch’s last lecture on achieving dreams”
Most people are aware of Price Elasticity of Demand, even if they don’t know the term. The logic is simple, if you raise the price of your product I won’t buy your product. This is however not the case with some special kinds of products. I will classify these products whose consumption increase in case of price hike into three categories. Continue reading “Negative Elasticity of Money”
Competitive management style is the least popular among the many leadership styles. The person who is a competitive style leader is more difficult for most people to work under. This particular style is extremely commanding and demanding. Learn why competitive style is often ineffective from the communications and public speaking expert Tracy Goodwin in this video. Continue reading “What is Competitive Management Leadership style”
Today, many supply chain managers believe that there are multiple risks involved in a supply chain, and yet are often ill-equipped to handle the same. Many of the risk factors develop from a pressure to enhance productivity, minimize waste, remove supply chain duplication, and improve bottom-line. Continue reading “Risk in Supply Chain Management”