The Business Professor
Ethics in Negotiations
Negotiations should be conducted in a way that is fair to both parties and takes into account the interests and limitations of each side. This means avoiding tactics that are designed to take advantage of the other party or unfairly...
The Business Professor
Eclectic Implementation Model
An eclectic paradigm is a theory based on a three-tiered framework that companies follow to determine if a direct foreign investment would be beneficial.
The Business Professor
Disintermediation
Disintermediation is the removal of intermediaries in economics from a supply chain, or "cutting out the middlemen" in connection with a transaction or a series of transactions.
The Business Professor
Differentiation Strategy
Your differentiation strategy is the way in which you make your firm stand out from otherwise similar competitors in the marketplace.
The Business Professor
Developing a Strategic Plan
Strategic Planning is a process where organizations define a bold vision and create a plan with objectives and goals to reach that future.
The Business Professor
Customer Centric Strategy
A customer-centric sales strategy focuses first on understanding the issue, then on helping to solve it with the most appropriate solution.
The Business Professor
Cost Strategy (Low Cost Production)
Low-cost strategy enables the firm to sell its product/service with a lower price compared to its competitors because of lower costs of producing products/service; as a result of this, they win a competitive advantage in the industry.
The Business Professor
Core Competency
Core competencies are the resources and capabilities that comprise the strategic advantages of a business. A modern management theory argues that a business must define, cultivate, and exploit its core competencies in order to succeed...
The Business Professor
Coopetition
Coopetition or co-opetition is a neologism coined to describe cooperative competition. Coopetition is a portmanteau of cooperation and competition.
The Business Professor
Contestable Market Theory
The contestable market theory states that companies with few rivals behave in a competitive manner when the market they operate in has weak barriers to entry. The continuous risk of new entrants emerging and stealing market share leads...
The Business Professor
Consortium
A consortium is an association of two or more individuals, companies, organizations, or governments with the objective of participating in a common activity or pooling their resources for achieving a common goal.
The Business Professor
Concentration Strategy
A concentration strategy is when a business focuses on a specific group of clients, a specific product, or a specific geographic market.
The Business Professor
Competitive Strategy
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.
The Business Professor
Competition Profile Matrix
The profile matrix identifies a firm's key competitors and compares them using industry's critical success factors.
The Business Professor
Commoditize
Commoditize means a product or service has become identical to the same type of offering presented by a rival, distinguished only by its price.
The Business Professor
Collaborative Advantage
Collaboration is based on having common goals and interests, a desire to capitalize on each other's strengths through collaboration and working together.
The Business Professor
Click and Mortar Business Model
A click-and-mortar business model is based on investing in both a physical and online presence. Click and mortar models are becoming increasingly popular as consumers seek to buy products online and off and to examine products offline...
The Business Professor
Choosing a Competitive Strategy
What is the process that businesses use in determining the appropriate competitive strategy
The Business Professor
Buyer Utility Map
The Buyer Utility Map, developed by Chan Kim and Renée Mauborgne, helps to get managers thinking from a demand-side perspective.
The Business Professor
Business Activity Monitoring
Business activity monitoring is software that aids the monitoring of business activities which are implemented in computer systems.
The Business Professor
Blue Ocean Strategy
Blue Ocean Strategy is a book published in 2004 written by W. Chan Kim and Renée Mauborgne, professors at INSEAD, and the name of the marketing theory detailed on the book.
The Business Professor
Bleeding Edge
Bleeding edge is a term used to describe the very latest and most modern technology available, such as the latest version of a rolling-release software.
The Business Professor
Benchmarking
Benchmarking is the practice of comparing business processes and performance metrics to industry bests and best practices from other companies. Dimensions typically measured are quality, time and cost.
The Business Professor
BCG Growth Share Matrix
The growth share matrix is, put simply, a portfolio management framework that helps companies decide how to prioritize their different businesses.