Month: January 2022

The global economy is currently undergoing a major shift to a knowledge-based economy. The broad consensus, evidenced by extensive World Bank data, is that this shift presents a major opportunity for developing nations. In a knowledge-based economy, the principle means Read More …

A diversification strategy involves venturing into a new business to exploit growth opportunities in that area but is a high risk move because of the unfamiliarity with the new business. It makes sense when attractive opportunities are found outside the Read More …

For the purpose of this chapter, PLC will be taken to mean product life cycle, and product and service will be used interchangeably. Many will be familiar with this timeless model which not only describes the stages in the sales Read More …

ETHICS AND PROFESSIONALISM A profession is an occupational community that has specific education, expert knowledge, and a framework of practice and behavior that underpins community trust, respect, and recognition. Most professions emphasize an ethical approach, the importance of good service, Read More …

ETHICS AND PROFFESIONAL STANDARDS Through our individual actions, each of us can affect the lives of others. Our decisions and behavior can harm or benefit a variety of stakeholders—individuals or groups of individuals who could be affected either directly or Read More …

This is one of the generic strategies by Michael porter. This is organizations doing everything to achieve a CA through producing products or services at a lower unit cost (lowering cost structure) – charge a lower price. Increase efficiency and Read More …