Business

Definition: Amalgamation, as the name itself suggest, is a form of external reconstruction, in which there is a combination of two or more than two companies, either by merger or by takeover. It indicates two activities: Two or more entities fuse to form a new company, wherein the individual identity of the two entities vanishes and the company so formed comes into being. … [Read more...] about Amalgamation

Definition: Marketing Mix is a group of marketing variables that the firm combines and controls, to produce the desired response in the target market. It is an important marketing tool that comprises of all the elements which influence the demand for the products offered by the firm. Components of Marketing Mix The different marketing activities are categorised by … [Read more...] about Marketing Mix

Definition: Intellectual Property, as the name suggests, is an intangible property, which is a product of human intellect, capital, labour, etc. such as artistic creations, literary works, inventions and so forth. It is intangible because it cannot be identified with the help of its physical characteristics. To safeguard the interest of the creators, intellectual property … [Read more...] about Intellectual Property

Definition: Core Competence implies a pool of exceptional skills, strategies, moves or technology, that demarcates between a leader and an average player, in the industry. It is the vital source of competitive advantage, for a firm over its competitors, which leads to distinctive capabilities or excellence. Characteristics of Core Competence The three fundamental … [Read more...] about Core Competence

Definition: Joint Venture can be described as a business arrangement, wherein two or more independent firms come together to form a legally independent undertaking, for a stipulated period, to fulfil a specific purpose such as accomplishing a task, activity or project. In other words, it is a temporary partnership, established for a definite purpose, which may or may not uses a … [Read more...] about Joint Venture

Definition: Process Analysis can be understood as the rational breakdown of the production process into different phases, that turns input into output. It refers to the full-fledged analysis of the business process, which incorporates a series of logically linked routine activities, that uses the resources of the organization, to transform an object, with the aim of achieving … [Read more...] about Process Analysis

Definition: Job Satisfaction, as the name suggests, is the feeling of contentment or a sense of accomplishment, which an employee derives from his/her job. It is a result of appraisal that causes one to attain their job values or meet out their basic needs. It helps in determining, to what extent a person likes or dislikes his/her job. The employee's attitude towards the job … [Read more...] about Job Satisfaction

Definition: Licensing is defined as a business arrangement, wherein a company authorizes another company by issuing a license to temporarily access its intellectual property rights, i.e. manufacturing process, brand name, copyright, trademark, patent, technology, trade secret, etc. for adequate consideration and under specified conditions. The firm that permits another firm … [Read more...] about Licensing

Definition: The term 'strategic management' is used to denote a branch of management that is concerned with the development of strategic vision, setting out objectives, formulating and implementing strategies and introducing corrective measures for the deviations (if any) to reach the organization's strategic intent. It has two-fold objectives: To gain competitive … [Read more...] about Strategic Management

Definition: Differentiation strategy, as the name suggests, is the strategy that aims to distinguish a product or service, from other similar products, offered by the competitors in the market. It entails development of a product or service, that is unique for the customers, in terms of product design, features, brand image, quality, or customer service. Differentiation … [Read more...] about Differentiation Strategy