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Modern Business Concepts Archives - Page 4 of 12 - MBA Knowledge Base

Industrial Espionage

The Federal Bureau of Investigation (FBI) defines industrial espionage as “an individual or private business entity sponsorship or coordination of intelligence activity conducted for the purpose of enhancing their advantage in the marketplace.” While this definition may imply Industrial Espionage to be more or less the same as business or competitive intelligence, but there is an essential difference between the two – while business intelligence is generally under private sponsorship using an “open” methodology, espionage may be either government or privately sponsored and clandestine.

Industrial Espionage is the process of collecting information and data for the purpose of generating revenue. Generating revenue is very important aspect for these people.… Read the rest

The Concept of Hybrid Managers

A hybrid manager can defined as a person who possesses strong technical skills and adequate business knowledge or vice versa. He should have the required skills needed in the technical as well as the management aspect. Along with that, he should also possess the management competences like communication skills, negotiation skills and also he should be able to motivate others working under him. A Hybrid manager should be able to reduce the gap between the business and technical aspects of the organization and build it with his expertise. Any organisation which has business and technical department working in tandom with each other has an advantage over other organisations whose technical and business department is not integrated.… Read the rest

Social Network Analysis

Billions of people create trillions of connections through social media each day, but few of us consider how each click and key press builds relationships that, in aggregate, form a vast social network. Passionate users of social media tools such as email, blogs, microblogs, and wikis eagerly send personal or public messages, post strongly felt opinions, or contribute to community knowledge to develop partnerships, promote cultural heritage, and advance development. Devoted social networkers create and share digital media and rate or recommend resources to pool their experiences, provide help for neighbors and colleagues, and express their creativity. The results are vast, complex networks of connections that link people to other people, documents, locations, concepts, and other objects.… Read the rest

Discontinuous Improvement – Abernathy and Utterback Model

The common innovation process happens in a set frame, following certain rules and ways of thinking. This ‘game played’ by competitors is to innovate by doing what has been done before like product or process innovations or even position and paradigm innovations, but doing it better. In this competition of ‘playing the same game’ some firms manage to do better than others and can gain a competitive advantage through these innovations, but the ‘set of the game’ is accepted and do not change.

Very rare something happens that breaks up this framework and changes how the game is played. This will not happen every day but when this arises the rules and boundaries of a market change rapidly.… Read the rest

How to Manage Innovation?

When we think about innovation one question arises in the mind: Does the innovation come naturally? Or it may be taught.

The answer is that everyone can be creative and innovative the only requirement is to encourage the innovation among people. Innovation is real work and it can & should be managed like any other corporate function but that does not mean it is the same as other business activities. Indeed, innovation is the work of knowing rather than doing.

Buzz today is to encourage and manage innovation through innovation management. One strategy to build up an innovative organization is getting people to accept that the way they work just might not be the best.… Read the rest

Major Drawbacks of Entrepreneurship

Entrepreneurs are persons who are creative and imaginative in finding ways and add them to their own wealth, power and prestige. Entrepreneurs innovate and introduce new quality of good which consumers are not familiar yet. Besides, they often launch new method of production and new market which have not been tested and existed before yet. Moreover, they also bring new source of supply of raw material or half manufactured goods. Likewise, they create monopoly position which is the carrying out of the new organisation of any industry.

It is important to differentiate between two primary types of entrepreneurs to understand how economic development occurs.… Read the rest