Tag: strategy

Core Competencies Definition

See Also: How to Turnaround a Company SWOT Analysis How to Run an Effective Meeting How to Train People for Success Action Plan Core Competencies Definition The core competencies definition is a resource or capability that gives a firm competitive advantage. Core competencies are the business functions or operational activities that a company does best.

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Complementors (Sixth Force of Porter’s Five Forces)

See also: Porter’s Five Forces of Competition Threat of New Entrants Supplier Power Buyer Bargaining Power Threat of Substitutes Intensity of Rivalry Porter’s Sixth Force Definition Complementors, Porter’s sixth force, are companies or entities that sell or offer goods or services that are compatible with, or complementary to, the goods or services produced and sold

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Activity-based Costing (ABC) vs Traditional Costing

See Also: Activity Based Costing Standard Costing System Cost Driver Value Chain Implementing Activity Based Costing Absorption vs Variable Costing Activity Based Management Process Costing Overhead Job Costing Activity Based Costing Costing vs Traditional Costing In the field of accounting, activity-based costing and traditional costing are two different methods for allocating indirect (overhead) costs to products.

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Company Debt: Pay Down or Borrow?

Many companies have been making a profit over the past few years. As a result, they have generated quite a bit of liquidity. With the banks calling on them offering tons of cash and low interest rates they are faced with the decision of either to pay down their company debt or borrow more? Company

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In a Small Way First!

Over the years, I’ve worked with companies to improve their profits and cash flow. In doing so, I’ve discovered a common theme: getting people to change – both entrepreneurs and their staff – is difficult. There’s a certain resistance to change with the mentality, “We’ve always done it this way.” A tactic I use to

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Supplier Power

Supplier Power Definition “In Porter’s five forces, supplier power refers to the pressure suppliers can exert on businesses by raising prices, lowering quality, or reducing availability of their products. When analyzing supplier power, the industry analysis is being conducted from the perspective of the industry firms. In this case, it is referred to as the

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Recession Strategies for Business

Once you find yourself in a recession your first goal is to stabilize your operations. But having achieved that goal you need to look beyond the present and develop a longer term strategy. Our goal for this recession is to “come out of the recession better and stronger than we went in!” Recession Strategies for

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Is This Any Way to Bake a Cake? (or Build a Company?)

Several weeks ago, I met with an entrepreneur who was wanting to purchase several companies and consolidate operations. He was emphatic that he was performing a “consolidation play” not a “roll-up”. I mentioned that it seem to me that he was describing a “roll-up” and that those don’t work! He corrected me by saying again

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Declining Sales: How low is low?

If you are like most companies I am talking to these days your sales are off from there high for last year. Nobody is immune and there is no place to hide! You have had declining sales for the past six to 12 months with no end in site. So what sales volume should you

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Keys to Profitable Growth

Today I attended a speech by Thomas Ryan, CEO of Service Corporation International (SCI). Though Mr Ryan covered several topics, one topic in particular interested me. He spoke to what he considered the keys to profitable growth. As you will recall, SCI was one of the original “roll up” firms focusing on the funeral industry.

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Are you ready for Edouard? Check out your Disaster Recovery Plan

As tropical storm Edouard approaches, you will undoubtedly find grocery stores and gas stations packed with people preparing themselves to be without power, water, and potentially fuel. Maybe this tropical storm will fizzle, or just dump some much needed rain in Texas and southwestern Louisiana. This is, however, a perfect opportunity to review your disaster

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Good Source for Short Term Talent

We just hired a summer intern from a local MBA program. During the year, we had several projects that we had identified that we wanted to accomplish. But we didn’t have the resources to pull off. We waited until the summer came around then sought out a MBA student whose talents could be applied to

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