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Profit Impact Of Marketing Strategy
The Profit Impact of Market Strategy (PIMS) program is a project that uses empirical data to try to determine which business strategies make the difference between success and failure. It is used to develop strategies for resource allocation and marketing. Some of the most important strategic metrics are market share, product quality, investment intensity, and service quality (all measured by PIMS and strongly correlated with financial performance). One of the emphasized principles is that the same factors work identically across different industries. History The PIMS project was originally initiated by senior managers of General Electric who wanted to know why some of their business units were more profitable than others. Under the direction of Sidney Schoeffler, an Economics professor hired by GE for the purpose, the PIMS project was launched in the 1960s as an internal empirical study. The aim was to make GE's different strategic business units (SBUs) comparable. Since GE ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Empirical Evidence
Empirical evidence is evidence obtained through sense experience or experimental procedure. It is of central importance to the sciences and plays a role in various other fields, like epistemology and law. There is no general agreement on how the terms ''evidence'' and ''empirical'' are to be defined. Often different fields work with quite different conceptions. In epistemology, evidence is what Justification (epistemology), justifies beliefs or what determines whether holding a certain belief is rational. This is only possible if the evidence is possessed by the person, which has prompted various epistemologists to conceive evidence as private mental states like experiences or other beliefs. In philosophy of science, on the other hand, evidence is understood as that which ''Scientific method#Confirmation, confirms'' or ''disconfirms'' Hypothesis#Scientific hypothesis, scientific hypotheses and arbitrates between competing theories. For this role, evidence must be public and uncont ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Car Manufacturing
The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, selling, repairing, and modification of motor vehicles. It is one of the world's largest industries by revenue (from 16% such as in France up to 40% in countries such as Slovakia). The word ''automotive'' comes from the Greek ''autos'' (self), and Latin ''motivus'' (of motion), referring to any form of self-powered vehicle. This term, as proposed by Elmer Sperry (1860–1930), first came into use to describe automobiles in 1898. History The automotive industry began in the 1860s with hundreds of manufacturers pioneering the horseless carriage. Early car manufacturing involved manual assembly by a human worker. The process evolved from engineers working on a stationary car to a conveyor belt system where the car passed through multiple stations of more specialized engineers. In the 1960s, robotic equipment was introduced, and most car ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerard J Tellis
Gerard is a masculine forename of Proto-Germanic origin, variations of which exist in many Germanic and Romance languages. Like many other early Germanic names, it is dithematic, consisting of two meaningful constituents put together. In this case, those constituents are ''gari'' > ''ger-'' (meaning 'spear') and -''hard'' (meaning 'hard/strong/brave'). Common forms of the name are Gerard (English, Scottish, Irish, Dutch, Polish and Catalan); Gerrard (English, Scottish, Irish); (Italian, and Spanish); ( Portuguese); (Italian); (Northern Italian, now only a surname); (variant forms and , now only surnames, French); ( Irish); Gerhardt and Gerhart/Gerhard/Gerhardus (German, Dutch, and Afrikaans); ( Hungarian); (Lithuanian) and / ( Latvian); (Greece). A few abbreviated forms are Gerry and Jerry (English); (German) and (Afrikaans and Dutch); (Afrikaans and Dutch); (Afrikaans); (Dutch) and ( Bulgarian). The introduction of the name 'Gerard' into the English language to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 Project management triangle, quality, time and cost. Benchmarking is used to measure performance using a specific Performance indicator, indicator (cost per unit of measure, productivity per unit of measure, cycle time of x per unit of measure or defects per unit of measure) resulting in a metric of performance that is then compared to others. Also referred to as "best practice benchmarking" or "process benchmarking", this process is used in management in which organizations evaluate various aspects of their processes in relation to best-practice companies' processes, usually within a peer group defined for the purposes of comparison. This then allows organizations to develop plans on how to make improvements or adapt specific best practices, usually with the aim of increasing some aspect of performance. B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Model
A business model describes how a Company, business organization creates, delivers, and captures value creation, value,''Business Model Generation'', Alexander Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self-published, 2010 in economic, social, cultural or other contexts. The model describes the specific way in which the business conducts itself, spends, and earns money in a way that generates Profit (economics), profit. The process of business model construction and modification is also called ''business model innovation'' and forms a part of business strategy. In theory and practice, the term ''business model'' is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including Mission statement, purpose, business process, target market, target customers, offerings, strategies, infrastructure, organizational structures, profit structures, sourcing, trading practices, and operational ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Strategies
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information. Strategic marketing emerged in the 1970s and 1980s as a distinct field of study, branching out of strategic management. Marketing strategies concern the link between the organization and its customers, and how best to leverage resources within an organization to achieve a competitive advantage. In recent years, the advent of digital marketing has revolutionized strategic marketing practices, introducing new avenues for customer engagement and data-driven decision-making. Marketing management versus marketing strategy The terms “strategic” and “managerial” marketing distinguish between two processes, each with different goals and conceptual tools. Strategic mark ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Management
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of Resource management, resources and an assessment of the internal and external Market environment, environments in which the organization operates.qn, date=June 2018 Strategic management provides overall direction to an enterprise and involves specifying the organization's goal, objectives, developing policy, policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback, feedback loop to monitor execution and to inform the next round of planning. Michael Porter identifies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mintzberg
Henry Mintzberg is a Canadian academic and author on business and management. He is currently the Cleghorn Professor of Management Studies at the Desautels Faculty of Management of McGill University in Montreal, Quebec, Canada, where he has been teaching since 1968. Early life Mintzberg was born on September 2, 1939, in Montreal, Quebec, Canada. He is the son of Jewish parents Myer and Irene (Wexler) Mintzberg. His father, Myer Mintzberg, was a manufacturer. Education Henry Mintzberg completed his first undergraduate degree in mechanical engineering at McGill University in 1961. During his time at McGill University he was in two honor societies, was a student council representative, a ''McGill Daily'' sports editor, a student athletic council chairman, and more. Mintzberg then went on to complete his second undergraduate degree in 1962. This degree was a Bachelor of General Arts and he received it from Sir George Williams University, which is now known as Concordia Universit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fredmund Malik
Fredmund Malik (born September 1, 1944 in Lustenau, Reichsgau Tirol-Vorarlberg, Tyrol-Vorarlberg) is an Austrian economist with focus on management science and the founder and chairman of a management consultancy (Malik Management) in St. Gallen. Malik applies systems theory and cybernetics to analyse and design management systems. From 1974 to 2004 he was teaching at the University of St. Gallen, where he is titular professor for general management, leadership and governance. Biography Malik studied economics, social sciences, logic and philosophy of science at the universities of University of Innsbruck, Innsbruck and University of St. Gallen, St. Gallen. In 1968 he enrolled at the University of Innsbruck and in 1970 he changed to the University of St. Gallen. He earned his doctoral degree in 1975 at the University of St. Gallen, where he habilitated in 1978 for managerial economics. From 1978 to 1986, he was associate professor for managerial economics at the University of S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource Allocation
In economics, resource allocation is the assignment of available resources to various uses. In the context of an entire economy, resources can be allocated by various means, such as markets, or planning. In project management, resource allocation or resource management is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time. Economics In economics, the field of public finance deals with three broad areas: macroeconomic stabilization, the distribution of income and wealth, and the allocation of resources. Much of the study of the allocation of resources is devoted to finding the conditions under which particular mechanisms of resource allocation lead to Pareto efficient outcomes, in which no party's situation can be improved without hurting that of another party. Strategic planning In strategic planning, resource allocation is a plan for using available resources, fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Business Units
A strategic business unit (SBU) in business strategic management, is a profit center which focuses on product offering and market segment. SBUs typically have a discrete marketing plan, analysis of competition, and marketing campaign, even though they may be part of a larger business entity. An SBU may be a business unit within a larger corporation, or it may be a business into itself or a branch. Corporations may be composed of multiple SBUs, each of which is responsible for its own profitability. Companies today often use the word '' segmentation'' or '' division'' when referring to SBUs or an aggregation of SBUs that share such commonalities. General Electric (GE) is an example of a company with this sort of business organization. SBUs are able to affect most factors which influence their performance. Managed as separate businesses, they are responsible to a parent corporation. GE has 49 SBUs. Business writer Michael Porter has developed a value chain model which focusses on t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Strategic Planning Institute
American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, people who self-identify their ancestry as "American" ** American English, the set of varieties of the English language native to the United States ** Native Americans in the United States, indigenous peoples of the United States * American, something of, from, or related to the Americas, also known as "America" ** Indigenous peoples of the Americas * American (word), for analysis and history of the meanings in various contexts Organizations * American Airlines, U.S.-based airline headquartered in Fort Worth, Texas * American Athletic Conference, an American college athletic conference * American Recordings (record label), a record label that was previously known as Def American * American University, in Washington, D.C. Sports teams S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
