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 [...]
After reading this article you will learn about the relationship between environment and business. Environment is closely related with business. There is a constant 'give and take' relationship between environment and business. The business receives inputs, information and technology from the environment and gives it back in the form of outputs (goods and services). If these outputs are accepted by [...]