After reading this article you will learn about:- 1. Causes of External Growth Strategy 2. Merits of External Growth Strategy 3. Limitations. Causes of External Growth Strategy: 1. Economies of scale: Small firms have limited resources (financial and non-financial) and generally produce goods at high cost. They buy in small quantities and, therefore, pay high price for materials and other [...]
After reading this article you will learn about:- 1. Meaning of Strategy 2. Features of Strategy 3. Styles of Making Strategy 4. Levels/Types 5. Evaluation. Meaning of Strategy: Strategy implies a course of action that defines and achieves organisation's objectives and implements its missions. Strategy is a means to achieve the goals. In a broader perspective, it represents organisation's responses [...]
This article throws light upon the top five techniques used by organisations to analyse and diagnose the environment. The techniques are: 1. SWOT Analysis, 2. ETOP 3. Forecasting, 4. Verbal and Written information 5. Management Information System. Technique # 1. SWOT Analysis: S stands for strengths, W for weaknesses, O for opportunities, and T for threats. SWOT analysis is the [...]