Definition: The Encirclement Attack is a war strategy adopted by the challenger firm intended to attack the competitor on all the major fronts. Under this strategy, the challenging firm considers both the strengths and weaknesses of the opponent and then launch the attack simultaneously. It is assumed that only those firms that are 10 times stronger or powerful than the … [Read more...] about Encirclement Attack
Flank Attack
Definition: The Flank attack is the marketing strategy adopted by the challenger firm and is intended to attack the weak points or blind spots of the competitor, especially a leader. A flank attack strategy is based on the assumption, that a large firm, may have several product lines and a wide range of services, but may not be necessarily a leader in all the categories. … [Read more...] about Flank Attack
Frontal Attack
Definition: The Frontal Attack is the marketing strategy adopted by the challenger firm and is intended to have a head on attack on the competitor by matching him in all the aspects Viz, product, price, place, promotion. It is assumed that in order to have an effective frontal attack the challenger must have three times more Fire Power than the opponent. Now the question … [Read more...] about Frontal Attack
Promotional Training
Definition: The Promotional Training means preparing the potential candidate to handle more duties and responsibilities, thereby making him/her eligible for promotion to higher jobs in the organization. Simply, training given to the efficient workers of an organization who are likely get promoted in the near future. With the promotion, the work and responsibilities get … [Read more...] about Promotional Training
Job Rotation
Definition: Job Rotation is the management technique wherein an employee is shifted from one job role to the other, with the purpose of familiarizing him with all the verticals of an organization. Generally, the management trainees who are a fresher in the business world are shifted to different job positions to make them understand the functions of business more precisely. … [Read more...] about Job Rotation
Internship Training
Definition: Under the Internship Training programme, an educational or a vocational institute enters into an arrangement with the industrial enterprises to provide experiential knowledge to their students. Simply, the training conducted to offer a practical knowledge to the students, lasting for few months, is called as the internship training. These trainings are conducted … [Read more...] about Internship Training
Refresher Training
Definition: The Refresher Training or Retraining is a training programme designed for the old or existing employees of an organization, with a purpose to acquaint them with the new skills, methods, and processes required to improve their performance on the jobs. The Refresher training is based on the assumption that the skills with the existing employees become obsolete or … [Read more...] about Refresher Training
Apprenticeship Training
Definition: The Apprenticeship Training programme is the combination of on-the-job training and the classroom training, wherein the workers earn while learning the skills required for performing the specialized job. Generally, the apprenticeship training is given to the technical staff such as mechanics, electricians, craftsmen, welders, etc. who work under the experts of … [Read more...] about Apprenticeship Training
Induction Training
Definition: The Induction Training is also called as an orientation programme, wherein the new employees are introduced to the rules and regulation of an organization with the objective of making them accustomed to the working environment, where they will be working. The new hires are generally provided with the following information about the organization: General … [Read more...] about Induction Training
Promotional Pricing
Definition: The Promotional Pricing is a sales promotion technique, wherein the firm reduces the price of a product drastically, but for a short period. Companies adopt several promotional pricing schemes, some of them are listed below: Special-Event Pricing: Companies offer discounts and rebates on festivals, during the off-seasons with the intention to pull as … [Read more...] about Promotional Pricing