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Strategy according to treacy and wiersema.
Definition of business strategy by different authors. Business activities are divided into various functions these functions are assigned to. According to kenneth andrews. Business strategy can be understood as the course of action or set of decisions which assist the entrepreneurs in achieving specific business objectives. The profit is a reward for the services of a businessman.
Full cycle recruiting is typically used on job candidates. Business definitions by different authors like keith gul bellin boono krutz lewis h haney james stephenson buskirik green robgers and others business is a wide term and signifies all economic activities carried on with the objective of earning money or profit or gain. The business is carried on with a motive to earn a profit. To be a good businessman one needs to have good business qualities and skills.
A businessman needs experience and skill to run a business. This is the definition used by many different authors. Meaning definition concepts and characteristics. It is a business strategy to have a plan for a business.
According to well known professors william pride robert hughes and jack kapoor business is the organized effort of individuals to produce and sell for a profit the goods and. It is a business strategy to have a plan for a business. For channelizing them into productive activities. Due to the importance of strategy within firms several authors have pointed out that the business goals are in need to be managed strategically in order to bring their aims to fruition at the end.
The notion of restricting the basis on which strategy might be formulated has been carried one step farther by michael treacy and fred wiersema authors of the discipline of market leaders 9 in the harvard business review article that presaged their book 10 treacy and wiersema assert that companies achieve leadership positions by narrowing not. An entrepreneur organizes various factors of production like land labour capital machinery etc. The technical definition of strategy is the plan which and principles with the tactics relating to use of the technologies in the business. According to alfred d chandler.
Business skills for economic success. Strategy is the determination of the basic long term goals and objectives of an enterprise and the adoption of the courses of action and the allocation of resources necessary for carrying out these goals. Anyone cannot run a business.
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