What You Need to Master SEO in 2024

General Business Articles

6 Secrets to Successful Franchise Leadership

General Business Articles

8 Side Hustles You Can Start Today

General Business Articles

How To Improve Your Finances in 2024

General Business Articles

Sustainable Strategies for Modern Workplaces: A Practical Guide

General Business Articles

SWOT Analysis of DELL Computers

As one of the largest computer manufacturers in the world, Dell Computer Company has grown tremendously since its incorporation in 1984 by Michael Dell. Dell’s Direct Model, which is largely responsible for the success of the company, provides a fast, cost-efficient, and customer friendly means of production and distribution. Now, in a market that is ever changing, competitors are challenging Dell with new and unique products in an effort to overcome the superiority of the Direct Model. The growth and development of laptop computers is a primary area in which Dell can work for continued success, despite the threats posed by its competitors.… Read the rest

Abey Francis

Relationship of Organizational Structure with Strategy and Culture

Relationship between Business Strategy and Structure

Business Strategy primarily refers to the road-map laid out by an organization. The principal objective of strategy is to ensure that an organization achieves the set targets in order to sustain and grow in an increasingly competitive world. On the other hand, a structure is the manner in which the internal resources of a company get connected with each other. More specifically, structure is concerned with different groups that can be formed within an organization. For example, an organization having a functional structure will operate through the different functions such as Marketing, Finance, and Manufacturing.… Read the rest

Abey Francis

What is a Master Budget?

Budget provides comprehensive financial overview of planned company operation. A company’s objectives budget is the overall financial plan showing expenditure of the available funds. A company’s budget is driven by the aims and objectives of the company as well as what it can actually accomplish. Many variables in a business can be budgeted which includes sales, output, cost- (variable and fixed), profits, cash flow, capital investment. Budget should be SMART, that is specific, measurable, achievable, realistic, and with time bound otherwise budget will be ineffective.

Strategic objective of the company is the first factor that needs to be considered when formulating budgets because unaligned budget with strategic objective lead to failure.… Read the rest

Abey Francis

Choosing Business Strategies and Tactics

There are a few steps that have to be taken to ensure that the choice of Business Strategy made by an organization is sound. Firstly there should be the realization that resources and capabilities have to searched for and located and the search has to be systematically made over each of the functional areas including Marketing, Production, Sales and Finance. After this is done, the feasibility of using these resources individually or collectively has to be determined. This is a serious exercise and should involve senior and top management. A firm may have manufacturing skills in plenty, but if the challenge facing the company is to increase market penetration, priority will have to be given to strengthening the marketing and sales functions and provide them with the lions share of the operating budget to achieve the company’s aims.… Read the rest

Abey Francis

Business Tactics

Business Tactics are specific operating plans which are part of and fit into the larger strategic plan. In warfare, tactics are plans made to fight and win battles. Strategy is the larger set of plans to win wars. Similarly business tactics can be viewed as short term plans to achieve smaller goals – also called targets- and are part of a larger strategic plan to achieve long term goals. A useful way of viewing tactics is to consider them as linking elements between strategy formulation and strategy implementation.

There are two types of primary tactics viz. Timing Tactics and Market Location Tactics.… Read the rest

Abey Francis

Different Business Strategies

Strategic Management deals with the process of translating an organization’s vision into long term goals which will enable it to compete with sustained competitive advantage in its business environment. Business Strategy is an important component of Strategic Management. It deals with how a firm competes along the three dimensions of its competitive space namely customers and markets, products and services, and technologies including skills and capabilities. A firm’s competitive advantage  is determined by the breadth of its target market. The target market could be mass market which means it is attractive to a large number of customers spread across most income and occupation groups(demographic groups).… Read the rest

Abey Francis