Porter’s Diamond of National Advantage is a model developed by Michael Porter and this model helps in understanding the comparative position of a nation in global competition. This model can also be used for major geographic regions of a single country. Traditionally, economic and international trade …
Bowman’s Strategy Clock is a model used by a company while designing marketing strategy to analyze its competitive position in comparison to the offerings of competitors. It is a diagrammatic representation which shows relationship between customer value and prices. Micheal Porter developed Generic Strategies which also called Porter …
Definition McKinsey 7s Model is a tool designed for the purpose of examining the structural layout of a particular company or business through considering 7 important internal components, namely strategy, structure, systems, shared values, style, staff and finally skills. The reason behind carrying out such process …
Definition and Meaning of Vision Statement “A company’s Vision is a statement expresses its ultimate objectives.” It is very vital for a company to have a clear and attainable long-term vision. Vision is statement that actually guides top level management (every chief executive) manager or other company’s …
Definition and Explanation “Mission statement can be define as “what a company actually does”? What is the business? And why a company does it?” It defines an organization core purpose or reason for being, this often called the “credo”, “philosophy”, “core values” or “organizational aspirations”. The basic …
Porter’s Generic Strategies Porter’s Generic Strategies are also called Porter marketing techniques. These strategic tactics used by different companies in order to penetrate a market and after penetration then sustain a strong advantage over the competitions. It can also be elaborate as “the primary aim of …
What is PEST Analysis & Why Do It The environment of corporate world is ever changing. No business operates in a vacuum environment. The corporate environment is something real complex and dynamic. There are several external factors surrounding a business and influencing it strategy and activities. …
What is SWOT Analysis The abbreviative business term SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Conducting a SWOT analysis enable a company to see where your company is in the marketplace and what strategies a particular company can develop to increase its market share. The …