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Tag Archives: Strategic Management

Variances Really Suck The Company’s Growth

We have learnt that favorable and unfavorale variances are adjusted to Cost Of Goods Sold to derive the Gross Profit in a business operation. Eventhough favorable variances have positive and unfavorable variances have negetive impacts on the Gross profit, ultimately no variance can influance the Net Profit of  business operation. Thus, no variance is desirable. In this article, I would emphasise on Materials Price Variance and it’s impacts on Gross Profit. In the later articles, I would discuss the impacts of other variances associated with business operations. A procurement manager …

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Understanding Strategic Planning Process of Investments

strategic planning process | types of strategic control

The strategic planning process of investments can be seen as the development of a relationship between financial planner and client. Generally, the process can be separated into 6 steps that will be described and explained in detail later in this article. It is important to understand that the process is recognized as efficient for both the planner and the client, since it joined the natural tendencies of the natural relationship that would be formed between the two sides there was no process. It is essential to understand that the strategic …

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What is a Product Development Strategy

product development strategy

What is a product development strategy? Product development involves modifying an existing product to innovate in processes or to create new products already existing on the market. Nothing is simple in such a process. It requires dedicated attention to competitors and customer needs now and in the future, the ability to fund prototypes and manufacturing processes, as well as a creative marketing and a good communications plan. There are several typical subsets of the product development strategy as under: The product diversification strategy This product development strategy is used when …

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8 P’s of Marketing Mix – What is The New P?

Marketing Mix 8 p's

Introduction to Marketing: Concepts and Basic Principles:   Marketing can be defined as a set of business activities designed to plan and deliver the products or services of an organization in order to develop effective relationships with customers. So effective marketing is not a random activity, it requires careful planning and takes into account the ethical implications of all business decisions on consumers. In fact, the company must develop a marketing plan that describes the marketing activities for a given period. Continue our introduction to Marketing with the concepts and principles …

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How to Prevent Fraud in Company

Fraud prevention

Prior to the detection of fraud in a business, one must ideally try to prevent it. This article will focus on accounting and accounting auditor and their roles in the context of fraud prevention. We will not discuss the aspect of forensic accounting in this article. Increasingly, accountants and auditors are in the front-line to detect and especially prevent corporate fraud. Since it is they who provide assurance on the data presented in the financial statements, they are well placed to detect problems related to internal controls, the company’s operations. …

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Michael Porter 5 Competitive Forces Model

Michael Porter 5 Competitive Forces Model

Using the model of five competitive forces of Porter is often done following analysis of the business environment (conducted via the PESTLE model). The model of 5 forces as the name suggests, focuses on the analysis of the current and future competition leads to the creation of opportunities or threats for the company. The model thus serves to facilitate the identification of opportunities and threats related to the immediate and future competition. The competitive analysis of a company is essential because competition is inherent in the business. Indeed, it is …

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Development of a SWOT Analysis (Example)

This is an example of SWOT analysis (Strength Weakness Opportunity Threat) for a fictional company that wants to innovate in the field of fiber optic nationally (much like Bell currently on the Canadian territory). The strengths and weaknesses refer to the internal environment of the company, while opportunities and threats refer to the external environment of our fictitious company. 1) Forces Theme of innovation and differentiation in this very thought leader. Is a force that could give him a direct competitive advantage Share research ideas between R & D Canada …

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Management of Debt with the Consumer Proposal

Debt Management

Managing a debt, specifically the repayment of principal and interest is not obvious thing for most individuals. Indeed, the fact that debt repayments represent important and regular amounts payable to the creditor puts a lot of pressure on the liquidity of the individual. This can lead, in some cases, the declaration of personal bankruptcy. But there are alternatives to bankruptcy process for individuals in financial difficulty. Consumer Proposal is one of those alternatives and that’s what we deal here. The consumer proposal in bankruptcy context: In the case of a …

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The Importance of Human Capital in the Development of Enterprise

Human Capital | expatriate employees

The Importance of Human Capital Let’s start by defining what human capital. The capital itself can be defined as a type of asset that allows a business to generate sales or control its expenses, and thus make a profit and which, more generally, to accomplish the mission, vision or respect the company’s values ​​in relation to the key success factors in its market. Human capital is the sum of knowledge and skills of a person, item that the company can use as capital, so to make a profit or achieve …

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The Importance of Advertising in a Business Development

Business Development

Any profit company seeks to maximize its profits to meet the needs of its shareholders and stakeholders, often through a combination of increased sales and controlling its operating expenses. Advertising is, in some small and medium enterprises, an element that is overlooked and that is not exploited to its full potential due to lack of prioritization or knowledge internally. Yet advertising can afford, more often than not achieve one of its two objectives: increasing the revenue of the company. Trademark and Advertising The trademark of concepts, also known under the …

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