Inferential or descriptive statistics are often used by marketing professional to take important marketing decisions. Effective marketing strategies can open new opportunities for small businesses…
What is Vrio Analysis? 4 Question Vrio Framework Explained
Vrio Analysis can be defined as an inception of the 4 question framework that focuses on the resources and the capabilities of the organization to…
What is Technology Life Cycle? 4 Stages of Technology Life Cycle
The Technology Life Cycle can be defined as how the technology and its processes affect the business processes and impact the entire life cycle of…
What is the CAGE Framework ? Cage Analysis Explained
The CAGE Framework identifies the Cultural, Administrative, Geographic, and Economic differences between the various countries that companies should address and take care of whilst working…
3 Main Types of Business Strategies Planning
Strategy is a word when pronounced, the hearer picturizes a crouched person, alert and ready to attack at his enemy with focus, discipline and most…
9 Types of Benchmarking
The process of comparing your business metrics to understand the performance of strategies and processes is called benchmarking. Benchmarking makes sure that the practices that…
What is 3C Model by Ohmae?
The 3C Model by Ohmae was developed by the Japanese organizational theorist Kenichi Ohmae and is an industrial model. It offers the strategic outlook and…
The Supply and Demand Curve – Explained in Detail
Supply and demand are one of the most fundamental concepts of economics working as the backbone of a market economy. The concept of demand can…
What is Theory of Constraints?
The Theory of Constraints is a unique methodology for identifying the most important limiting factor that stands in the way of achieving a goal and…
Top 10 Types of Assessment
Assessment is defined as a proper collection, interpretation and use of information in regards to learning. It gives the teacher a better awareness about the…
What is House Of Quality? Concept & Advantages Explained With Example
House of Quality can be defined as the most convenient, easy, and simple tool used to convert the customer needs into technical descriptors for the…
What is the 5S System Framework in Management?
The 5S system can be defined as a systematic form and methodology of visual management utilizing everything from the floor tape to operations manuals during…
What is Just in time Manufacturing? Elements Involved
Just in Time Manufacturing is also known as just-in-time production or the Toyota Production System and can be defined as the methodology with an objective…
What is The Kraljic Matrix – Portfolio Purchasing Model?
The Kraljic Matrix Portfolio Purchasing Model was developed by Peter Kraljic in the year 1983 and the model could be used to analyze the purchasing…
What is Lean Manufacturing? Lean Production Explained
Lean Manufacturing is a methodology that mainly focuses on minimizing waste within manufacturing systems of the company and simultaneously maximizing the levels of productivity. Lean…
