The Business Professor
Types of Business Strategy
Organizational (Corporate) Strategy; Business (Competitive) Strategy; Functional Strategy ; Growth-Based Strategies,; Stability Strategies, · Retrenchment
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Transformative Business Model
Transformative business models are those that incorporate change in industry and society in addition to seeking profit.
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Activity-Based Costing vs Traditional Costing
Traditional methods of allocating costs differs from activity-based costing methods. This video explains the difference between activity-based costing and traditional costing methods.
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Time to Market
What is the Time to Market for a startup venture? Time to Market (TTM) is the time it takes to go from an idea to a finished product. Sometimes you will come across the term Speed to Market (STM). In the context of startups, TTM is a...
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Theory of Constraints
What is the Theory of Constraints? The theory of constraints is a management paradigm that views any manageable system as being limited in achieving more of its goals by a very small number of constraints.
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Team Tasks
What are Team Tasks? Production Tasks - This means creating or delivering something, such as a product, service, plan, etc. Idea Generation Tasks - Creative tasks, such as idea generation or process refinement. Problem-Solving Tasks -...
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Understanding Job Order Costing in a Unique Environment
This video explains the characteristics of job order costing and how it is used in environments where products and services are distinct and unique. It also discusses the process of creating a cost pool for a particular job and how to...
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Competitive Strategy
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.
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Competitive Analysis in a Business Plan
What is a competitive analysis in a business plan? A competitor analysis, also referred to as a competitive analysis, is the process of identifying competitors in your industry and researching their different marketing strategies. You...
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Calculating Prime and Conversion Cost
Prime costs are those direct material and direct labor costs necessary to finish a product. Conversion costs are the overhead and direct labor necessary to convert a raw material into a final product.
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Buyer Utility Map
The Buyer Utility Map, developed by Chan Kim and Renée Mauborgne, helps to get managers thinking from a demand-side perspective.
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Business Strategy Porters Generic Strategies
This Video Explains Business Strategy Porters Generic Strategies
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Business Strategy Bowman Clock
This Video Explains Business Strategy Bowman Clock
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Business Plan - Marketing Section
What should be included in the Marketing Section of a business plan? The marketing portion of a business plan addresses four main topics: product, price, promotion, and place.
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Business Plan - Financial Projections
What should be included in the Financial Projections portion of the business plan? The financial section of your business plan should include a sales forecast, expenses budget, cash flow statement, balance sheet, and a profit and loss...
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Business Model Canvas - Explained
What is the Business Model Canvas? The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones.
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Business Customers are different than Consumers
Business Customers are different than Consumers