Month: February 2022

The following are the major differences between perfect competition and imperfect competition 1. The competitive market, in which there are the large number of buyers and sellers, and the sellers supply identical products to the buyers, it is known as Read More …

1. PERFECT COMPETITION This is also known as pure competition) describes markets such that no participants are large enough to have the market power to set the price of a homogeneous product. Because the conditions for perfect competition are strict, Read More …

A consortium is a short-term arrangement in which several firms (from the same or different industry sectors or countries) pool their financial and human resources to undertake a large project that benefits all members of the group. A consortium lasts Read More …

Small companies usually use one of two types of organizational structure: Functional and product. Functional areas such as marketing and engineering report to the president or CEO in a functional organizational structure. Product structures are used when a company sells Read More …

1. Strategy The best approach to organizational design tailors it to a company’s strategic plans. The plans, meanwhile, follow from a company’s vision, which itself follows from the company’s mission. Mission is a business’ reason for being its purpose. Vision Read More …

In choosing a company’s organizational structure, management is searching for the one that will bring the company’s moving parts together into a well-coordinated, efficient and effective unit. The choice is important because the right groupings of people and work facilitate Read More …