Strategic Opportunities Abell's business definition framework suggests that a business can be defined using three dimensions namely; the customer groups which is who the business intends to serve through its goods and services. The second dimension is customer needs which refers to the needs of the customers that the business aims to attempt. The third dimension is technology or distinctive competencies which refer to how the business is going to meet the needs of its customers. Within the framework of the competencies of any business and its available technologies, it is the management decisions to strike an optimum between the amount of functions a business wants to fulfil and the costs it is going to incur. This approach puts emphasis on the understanding of the customers as opposed to the particular industry or the products or services the business is offering. On the basis of these three dimensions, Abell's competitive strategy scheme of classification proposes that a business needs to be defined by the business competitive scope either broad or narrow and the extent of...
The definition of a business gives the main reasons as to why the organization exists as well as its strategic scope. It also gives a definition of the business review basis when it comes to the market the business serves, the potential competitors to the business and also the possible options for strategic alliances. By concentrating on the needs of the customers and also maximization of the added value, giving a wide definition of a business can lead to new insights when it comes to potential business areas. This definition can be utilized to define a business scope at all business levels; corporate level, business level and lower organizational levels. It can also be used to communicate any changes when it comes to the definition of a business. It is also useful when it comes to carrying out a systematic analysis of the existing growth opportunities of a business. It can…
You Can Grow Your BrainYour brain is a muscle that gets stronger the more you use it. Thanks to the network of nerve cells in your cortex, the more you challenge yourself to think the more advanced that network becomes! When we challenge ourselves to think, we are essentially exercising our brain cells, which makes the connections between them stronger. As a result, our brains become more efficient and better
Valve Corp The central problem is to determine a strategy going forward for Valve Corporation. The company is the market leader in its space, but needs to consider how to either expand this business or enter new ones. Growth is the major strategic objective for Valve at present. The company can also place emphasis on reinforcing its competitive advantages, but this leaves it vulnerable to changes in its industry space, and
Research MethodologyIn the research on the menace of drug addiction and wanton drug abuse in Hong Kong, the use of literature hitherto formed a central part of the entire process. It was seen to be one of the key sources of information since the interviewing of the hard-core drug addicts may not have been easily possible. The online books and reliable websites by agencies dealing in social and health matters,
AbstractAim: To establish methodologies that could be employed in order to prevent the abuse of drugs amongst the youth in Hong Kong.Methods: This is a critical literature review.Results: The main themes uncovered are injected drugs usage, risks of using opioids in the treatment of chronic pain, prevalence of drugs in Hong Kong, relapse prevention, and types of drugs.Discussion: We have established the methods that drug peddlers are able to distribute
Best Practices in Outsourcing the Advertising Best Practices in Outsourcing Advertising: Outsourcing is the most prevalent strategy companies are using today to control costs, increase their time-to-market, and gain access to expertise they may not be able to afford on their own. Outsourcing advertising and other areas of marketing reduced one large banks' budget by 40%, with smaller banks gaining a 30% cost improvement using outsourcing over hiring and retaining their own
Good managers must act quickly when faced with ethical dilemmas. Leaders need ensure that dignity and respect are maintained at all times. These different elements are important, because they are providing us with a basic foundation as to how manages can apply effective leadership inside their organization. Once this occurs, is when there will be a transformation in operating environment with everyone willing to work together on a regular basis. (Voyer, 2011) Conclusion Clearly,
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