COMPETITIVE ADVANTAGE Porter based on the five forces proposed three principle strategies which he called Generic strategies that could be used to maintain a sustainable competitive advantage namely: Overall cost leadership-this is where a firm sets out to become a low cost producer. The firm should offer customers product quality and features that are comparable […]
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ANSOFF’S PRODUCT MARKET GROWTH MATRIX The Ansoff Growth matrix is a tool that helps business to decide their product and market growth strategy. Ansoff’s product/market growth matrix suggests that a firm’s chances to grow depend on the type of product (new or existing products) and the market it caters to (new or existing markets). The
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FORMULATING CORPORATE LEVEL STRATEGIES Strategic options / Grand Strategies Based on the above strategies a firm can take the following grand strategies at corporate level: Integration strategies Forward integration–this involves gaining ownership or increased control over distribution channels. It eliminates resale mark up, hastens inventory turnover and allows firm to quickly take advantages of falling
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STRATEGY FORMULATION Strategy formulation is the process of determining appropriate courses of action for achieving rganizational objectives and thereby accomplishing organizational purpose. Strategy Formulation is the process of developing the strategy. And the process by which an organization chooses the most appropriate courses of action to achieve its defined goals. This process is essential to
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Multidisciplinary nature of management Though management has developed as a separate discipline but it draws knowledge and concepts from disciplines such as sociology, psychology, economics, statistics, operations research etc. Management integrates ideas and concepts from these disciplines and uses them for improving the efficiency of the organization. The integration of knowledge of various fields is
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EMPLOYEE SEPARATION Methods of employee separation include; Retirement This can be defined as the exit from an organization, position or career path at mid age with an intention of reducing psychological commitment to work. It is an action initiated by the employer or the employee. Types of retirement a) Mandatory retirement – this is a
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FACTORS CONSIDERED WHEN DESIGNING THE APPRAISAL APPROACH 1. Timing 2. The appraisal criteria 3. Appraisers ability – technique the appraiser will be able to understand 4. Accuracy of the technique 5. Resource availability 6. Appraisers – are they prejudiced? Factors affecting performance appraisal 1. Soft spot syndrome – This is a tendency on the part
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