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 …
Project Management Success is mainly depends on balancing the core project components of a project which are Scope, Cost and Time. These three core components or constraints are often referred to the “Project Scope Triangle” or the “Project Quality Triangle”. For a project manger it is …
Definition of Competitive Advantage Competitive Advantage has been introduced in business world for many years. It can be defined as “the superior performance of a particular company relative to other competitors in the same industry or superior performance relative to the industry average.” “It can also be …
Meaning Vertical Integration Vertical integration is essential for an organization because, depending on its industry of operations, Vertical integration may be the only way by which an organization can compete effectively as well as operate in a more efficient and productive manner by minimizing costs within …
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 …
