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Resource Slack
Resource slack, in the business and management literature, is the level of availability of a resource. Resource slack can be considered as the opposite of resource scarcity or resource constraints. The availability of resources can therefore be defined in terms of resource slack versus constraints, as two ends of a continuum. Resource slack then refers to the relative abundance of the resource, and resource constraints refer to its limited availability. However, the effects of both resource slack and resource constraints are ambiguous, as both can have both negative and positive consequences. Both new and established firms need resources for their survival, growth and sustainable competitive advantage. On the other hand, severe resource constraints hinder the growth of firms and lower the probability of their survival. However, resource constraints have also been observed to foster creativity and force firms to deal with problems promptly. Moreover, slack resources tend to improv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with Sole proprietorship, sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inverse Function
In mathematics, the inverse function of a function (also called the inverse of ) is a function that undoes the operation of . The inverse of exists if and only if is bijective, and if it exists, is denoted by f^ . For a function f\colon X\to Y, its inverse f^\colon Y\to X admits an explicit description: it sends each element y\in Y to the unique element x\in X such that . As an example, consider the real-valued function of a real variable given by . One can think of as the function which multiplies its input by 5 then subtracts 7 from the result. To undo this, one adds 7 to the input, then divides the result by 5. Therefore, the inverse of is the function f^\colon \R\to\R defined by f^(y) = \frac . Definitions Let be a function whose domain is the set , and whose codomain is the set . Then is ''invertible'' if there exists a function from to such that g(f(x))=x for all x\in X and f(g(y))=y for all y\in Y. If is invertible, then there is exactly one function sat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource-based View
The resource-based view (RBV) is a managerial framework used to determine the strategic resources a firm can exploit to achieve sustainable competitive advantage. Barney's 1991 article "Firm Resources and Sustained Competitive Advantage" is widely cited as a pivotal work in the emergence of the resource-based view. However, some scholars argue that there was evidence for a fragmentary resource-based theory from the 1930s. RBV proposes that firms are heterogeneous because they possess heterogeneous resources, meaning firms can have different strategies because they have different resource mixes. The RBV focuses managerial attention on the firm's internal resources in an effort to identify those assets, capabilities and competencies with the potential to deliver superior competitive advantages. Origins and background During the 1990s, the ''resource-based view'' (also known as the ''resource-advantage theory'') of the firm became the dominant paradigm in strategic planning. RBV can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resource
Resource refers to all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their availability — they are classified into renewable and non-renewable resources. They can also be classified as actual and potential on the basis of the level of development and use, on the basis of origin they can be classified as biotic and abiotic, and on the basis of their distribution, as ubiquitous and localised (private, community-owned, national and international resources). An item becomes a resource with time and developing technology. The benefits of resource utilization may include increased wealth, proper functioning of a system, or enhanced well-being. From a human perspective, a natural resource is anything obtained from the environment to satisfy human needs and wants.WanaGopa - Nyawakan From a broader biological or ecologi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management Science
Management science (or managerial science) is a wide and interdisciplinary study of solving complex problems and making strategic decisions as it pertains to institutions, corporations, governments and other types of organizational entities. It is closely related to management, economics, business, engineering, management consulting, and other fields. It uses various scientific research-based principles, strategies, and analytical methods including mathematical modeling, statistics and numerical algorithms and aims to improve an organization's ability to enact rational and accurate management decisions by arriving at optimal or near optimal solutions to complex decision problems. Management science looks to help businesses achieve goals using a number of scientific methods. The field was initially an outgrowth of applied mathematics, where early challenges were problems relating to the optimization of systems which could be modeled linearly, i.e., determining the optima (Maxima an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management
Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. "Run the business" and "Change the business" are two concepts that are used in management to differentiate between the continued delivery of goods or services and adapting of goods or services to meet the changing needs of customers - see trend. The term "management" may also refer to those people who manage an organization—managers. Some people study management at colleges or universities; major degrees in management includes the Bachelor of Commerce (B.Com.), Bachelor of Business Adminis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demand
In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. The relationship between price and quantity demand is also called the demand curve. Demand for a specific item is a function of an item's perceived necessity, price, perceived quality, convenience, available alternatives, purchasers' disposable income and tastes, and many other options. Factors influencing demand Innumerable factors and circumstances affect a consumer's willingness or to buy a good. Some of the common factors are: The price of the commodity: The basic demand relationship is between potential prices of a good and the quantities that would be purchased at those prices. Generally, the relationship is negative, meaning that an increase in price will induce a decrease in the quantity demanded. This negative relationship is embodied in the downward slope of the consumer demand curve. The assumption of a negative relationship is reaso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Entrepreneurs
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones. An entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards.The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, which is often similar to a small business, or as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit." The people who create these businesses are often referred to as entrepreneurs. While de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Context-dependent
In formal language theory, a context-sensitive language is a language that can be defined by a context-sensitive grammar (and equivalently by a noncontracting grammar). Context-sensitive is one of the four types of grammars in the Chomsky hierarchy. Computational properties Computationally, a context-sensitive language is equivalent to a linear bounded nondeterministic Turing machine, also called a linear bounded automaton. That is a non-deterministic Turing machine with a tape of only kn cells, where n is the size of the input and k is a constant associated with the machine. This means that every formal language that can be decided by such a machine is a context-sensitive language, and every context-sensitive language can be decided by such a machine. This set of languages is also known as NLINSPACE or NSPACE(''O''(''n'')), because they can be accepted using linear space on a non-deterministic Turing machine. The class LINSPACE (or DSPACE(''O''(''n''))) is defined the same, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parabola
In mathematics, a parabola is a plane curve which is mirror-symmetrical and is approximately U-shaped. It fits several superficially different mathematical descriptions, which can all be proved to define exactly the same curves. One description of a parabola involves a point (the focus) and a line (the directrix). The focus does not lie on the directrix. The parabola is the locus of points in that plane that are equidistant from both the directrix and the focus. Another description of a parabola is as a conic section, created from the intersection of a right circular conical surface and a plane parallel to another plane that is tangential to the conical surface. The line perpendicular to the directrix and passing through the focus (that is, the line that splits the parabola through the middle) is called the "axis of symmetry". The point where the parabola intersects its axis of symmetry is called the "vertex" and is the point where the parabola is most sharply curved. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Performance
A performance is an act of staging or presenting a play, concert, or other form of entertainment. It is also defined as the action or process of carrying out or accomplishing an action, task, or function. Management science In the work place, job performance is the hypothesized conception or requirements of a role. There are two types of job performances: contextual and task. Task performance is dependent on cognitive ability, while contextual performance is dependent on personality. Task performance relates to behavioral roles that are recognized in job descriptions and remuneration systems. They are directly related to organizational performance, whereas contextual performances are value-based and add additional behavioral roles that are not recognized in job descriptions and covered by compensation; these are extra roles that are indirectly related to organizational performance. Citizenship performance, like contextual performance, relates to a set of individual activity/co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management
Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. "Run the business" and "Change the business" are two concepts that are used in management to differentiate between the continued delivery of goods or services and adapting of goods or services to meet the changing needs of customers - see trend. The term "management" may also refer to those people who manage an organization—managers. Some people study management at colleges or universities; major degrees in management includes the Bachelor of Commerce (B.Com.), Bachelor of Business Adminis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
