Definition: Operations strategy is an essential part of the overall corporate strategy that specifies plans and policies to reconcile market requirements and operational resources. It is vital for long-term strategic success and to remain competitive in the market. This is because, without a good strategy, companies may lose their market share to competitors. It creates … [Read more...] about Operations Strategy
Types of Departmentation
During the departmentation process, the organization faces difficulty selecting the most suitable 'Types of Departmentation'. In large organizations, besides the workforce, activities and processes are also diversified. As they grow in structure, managing personnel and tasks becomes challenging. Thus, selecting the correct type of Departmentation is necessary to … [Read more...] about Types of Departmentation
Departmentation
Definition: Departmentation implies an organizing process involving the horizontal division of activities and personnel into homogeneous workable units known as Departments/Divisions. It involves the organization of a large enterprise into smaller administrative units at all levels. It is performed to facilitate smooth functioning within the organization. Moreover, … [Read more...] about Departmentation
Market Entry Strategies
Definition: Market Entry Strategies are the plan, methods or channels available with the firm to expand their business in the new target market within and across nations. It is one of the firms' most important decisions when entering new markets. Firms move to new markets to grab the growth opportunities prevailing in different markets. Note: The growth rate and … [Read more...] about Market Entry Strategies
Value Analysis
Definition: Value Analysis is a combination of creative and analytical techniques, especially for cost minimization and prevention in an innovative way. Moreover, it aims to find the best method to improve the product's value, service or process without sacrificing its worth and functions. It is a problem-solving method which identifies and eliminates unnecessary costs. These … [Read more...] about Value Analysis
Job Analysis Methods
Job Analysis Methods are the means of acquiring essential job-related information like - Duties, Skills-set and Responsibilities. It is a vital step in the Job Analysis Process. Selecting suitable candidates for Jobs is crucial for all organizations. For this purpose, the organization appoints dedicated personnel called Job Analysts. The job analyst needs some data … [Read more...] about Job Analysis Methods
Divestiture
Definition: Divestiture implies the strategic move taken by the business's management which involves discontinuation of a business unit either partially or fully by selling/separating a piece of asset, service, property or product line with the motive of being profitable and streamlining operations. Simply put, the management decides to cease the operations that cannot make … [Read more...] about Divestiture
Types and Causes of Unemployment
A segment of the workforce that is sufficiently educated and skilled is Jobless. It is not merely an issue but a critical macroeconomic problem for countries. Read through this post and learn the main Types and Causes of Unemployment. All non-working persons can't be called unemployed. But, a person is said to be unemployed when they are educated, skilled and willing to work … [Read more...] about Types and Causes of Unemployment
Functions of Stock Exchange
The Functions of the Stock Exchange are not restricted to just trading but are a most extensive part of the economy. Therefore, it performs many functions which are crucial for Investors, Firms and the Economy as a whole. The main function of a stock exchange is to make trading easier by assisting sellers in finding qualified purchasers for their stocks or other … [Read more...] about Functions of Stock Exchange
Promotion Mix in Marketing
Imagine you own a product of some sort, and nobody is aware of it. Customers or Dealers will only buy it once they are informed about it and its associated benefits. Here, the Promotion mix comes into the picture. Definition: Promotion Mix or Communication Mix is the blend of the various promotion variables or elements that help promote the organization's offerings, such as … [Read more...] about Promotion Mix in Marketing