What is a Product Mix Strategy? An effective product mix strategy allows a firm to concentrate its efforts and resources on the items and product lines that have the most potential for growth, market share, and revenue within its offers. [rml_read_more] A product mix strategy has four dimensions: Width A total number of product lines […]
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One way to control the cash crunch When a consultant asked two entrepreneurial friends, do we know why an organization feels a cash crunch to operate successfully? Why do you need working capital finance every time? Why is it that every time you are short on paying vendors? One friend said I think it is because
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When does an organization feel cash crunch to operate successfully or in the normal way? Many business owners start with a great idea, and they put their capital into establishing and growing their business. More customers mean more inventory, more staff, more training… more of many things. With this growth, business managers are then forced
Increasing Fraud vulnerability needs pragmatic vigilant with an open eye as one of remedial measure to deter Fraud occurrence level. This Video Features • Fraud • Red Flag / Green Flag • Modus operandi ( case Study) • Anti-Fraud mechanism In your entrepreneurial journey, many time-critical answers are not convincing and require a second
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New Economy is globalized and sources of competitiveness are shifting to knowledge-based factors. In the new knowledge economy, intangible assets such as PATENTS, INDUSTRIAL DESIGNS, TRADEMARK, COPYRIGHT, etc. have become central business assets. In order to be internationally competitive, businesses need to constantly improve their efficiency, reduce production costs and enhance the reputation of their
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Every organisation has this symmetrical challenge where entrepreneurs grow at high speed but his support team or ops team does not catch up with that speed and therefore it creates stress within the organisation. Here is the solution for the same. Here are snippets on the most relevant topics specially designed for Entrepreneurs. 1 –
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What is a PESTEL Analysis? PESTEL Analysis is a strategic framework used to evaluate the external environment of a business by breaking down the opportunities and risks into Political, Economic, Social, Technological, Environmental, and Legal factors. PESTEL Analysis can be an effective framework to use in Corporate Strategy Planning and for identifying the pros and
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Roman philosopher Seneca is quoted as saying: “If a man does not know what port he is steering for, no wind is favourable.” The same applies to organizations and corporations. The best product, services, goals and management teams are of little use without a corporate strategy. Without a corporate strategy it is impossible for a
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Corporate strategy at its core concerns itself with the entirety of a business, where decisions are made in regard to its overall growth and direction. Ultimately, corporate strategy strives to create value, develop a unique marketing advantage and seize maximum market share. The corporate strategy level concerns itself with the entirety of the organization on
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“IF YOU WANT TO BE SUCCESSFUL, DON’T SEEK SUCCESS – SEEK COMPETENCE; DO NOTHING SHORT OF THE BEST THAT YOU CAN DO.” Where to Begin when Identifying Core Competency The starting point for understanding core competencies is recognizing “competition” between organizations is both a contest for “competence mastery” and “market position and power”. Careful consideration
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