Archive | Business Studies

5 Basic Components of Scientific Management: By F.W Taylor

Basic components of scientific management are: (1) separation of planning from doing (2) functional foremanship (3) determining ‘fair day’s work’ and one best way of doing it (4) differential piecework system of wage payment and (5) bilateral mental revolution.

Diversification Strategy and Expansion of Business

Diversification is defined as entry into new products or product lines, new services or new markets, involving substantially different skills, technology and knowledge. It involves expansion into new businesses that are outside the current businesses and markets.

7 Main Characteristics of Expansion Strategy

Expansion strategy refers to redefining the business by adding the scope of business substantially through major reformulation of objectives and goals, involving new investments, introduction of new products, new technology and new markets, innovative decisions and so on.

What is Michael Porter’s Focus Strategies?

Focus strategy means concentrating on a particular group of customers, geographic markets or on particular product-line segments in order to serve a well-defined but narrow market better than competitors who serve a broader market.

What are the Main Key Success Factors of an Industry?

Key Success Factors (KSFs) in an industry are those things that determine the ability of members of an industry to prosper in the industry such as low cost, best quality, good product features, resources available, competitive capabilities and so on. For example:

Kata Mutiara Kata Kata Mutiara Kata Kata Lucu Kata Mutiara Makanan Sehat Resep Masakan Kata Motivasi obat perangsang wanita