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Extended Enterprise
An extended enterprise is a loosely coupled, self-organizing network of firms that combine their economic output to provide products and services offerings to the market. Firms in the extended enterprise may operate independently, for example, through market mechanisms, or cooperatively through agreements and contracts. They provide value added service or product to the OEM (Original Equipment Manufacturer). Alternatively referred to as a " supply chain" or a "value chain", the extended enterprise describes the community of participants involved with provisioning a set of service offerings. The extended enterprise associated with "McDonald's", for example, includes not only McDonald's Corporation, but also franchisees and joint venture partners of McDonald's Corporation, the 3PLs that provide food and materials to McDonald's restaurants, the advertising agencies that produce and distribute McDonald's advertising, the suppliers of McDonald's food ingredients, kitchen equipment, b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Output
Output in economics is the "quantity of goods or Service (economics), services Production (economics), produced in a given time period, by a firm, industry, or country", whether consumed or used for further production. The concept of national output is essential in the field of macroeconomics. It is national output that makes a country rich, not large amounts of money. Definition Output is the result of an economic process that has used input (economics), inputs to produce a product or service that is available for sale or use somewhere else. ''Net output'', sometimes called ''netput'' is a quantity, in the context of production, that is positive if the quantity is output by the production process and negative if it is an input to the production process. Microeconomics Output condition The profit-maximizing output condition for producers equates the relative marginal cost of any two goods to the relative selling price of those goods; i.e. \frac = \frac One may als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Agreement
A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common trade agreements are of the preferential and free trade types, which are concluded in order to reduce (or eliminate) tariffs, quotas and other trade restrictions on items traded between the signatories. The logic of formal trade agreements is that they outline what is agreed upon and the punishments for deviation from the rules set in the agreement. Trade agreements therefore make misunderstandings less likely, and create confidence on both sides that cheating will be punished; this increases the likelihood of long-term cooperation. An international organization, such as the IMF, can further incentivize cooperation by monitoring compliance with agreements and reporting third countries of the violations. Monitoring by international agencie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knowledge Economy
The knowledge economy (or the knowledge-based economy) is an economic system in which the production of goods and services is based principally on knowledge-intensive activities that contribute to advancement in technical and scientific innovation. The key element of value is the greater dependence on human capital and intellectual property for the source of the innovative ideas, information and practices. Organisations are required to capitalise this "knowledge" into their production to stimulate and deepen the business development process. There is less reliance on physical input and natural resources. A knowledge-based economy relies on the crucial role of intangible assets within the organisations' settings in facilitating modern economic growth. A knowledge economy features a highly skilled workforce within the microeconomic and macroeconomic environment; institutions and industries create jobs that demand specialized skills in order to meet the global market ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Growth Strategy In An Era Of Turbulence
Growth may refer to: Biology * Auxology, the study of all aspects of human physical growth * Bacterial growth * Cell growth * Growth hormone, a peptide hormone that stimulates growth * Human development (biology) * Plant growth * Secondary growth, growth that thickens woody plants Economics * Economic growth, the increase in the inflation-adjusted market value of the goods and services * Growth investing, a style of investment strategy focused on capital appreciation Mathematics * Exponential growth, also called geometric growth * Hyperbolic growth * Linear growth, refers to two distinct but related notions * Logistic growth, characterized as an S curve Social science * Developmental psychology * Erikson's stages of psychosocial development * Human development (humanity) * Personal development * Population growth Other uses * ''Growth'' (film), a 2010 American horror film * Izaugsme (''Growth''), a Latvian political party * ''Grown'' (album), by 2PM See also * Grow (disambi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chris Zook
Chris Zook is a business writer and partner at Bain & Company, leading its Global Strategy Practice. He currently resides in Amsterdam, the Netherlands and in Boston, Massachusetts. He is listed by ''The Times'' (London) as one of the world's top 50 business thinkers. Education Zook received a B.A. in mathematics and economics from Williams College, a M.Phil. in economics from Exeter College, Oxford University, and a MPP and Ph.D in Public Policy Analysis from the Harvard Kennedy School. Books Zook is an author of books and articles on business strategy, growth, and the importance of leadership economics, including the ''Profit from the Core'' trilogy. In 2001, he published ''Profit from the Core'', which found that nine out of ten companies that had sustained profitable growth for a decade had focused on their core businesses, rather than diversification. The sequel, ''Beyond the Core'', examines how companies that have fully exploited their core businesses can systematically and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Proposition
In marketing, a company’s value proposition is the full mix of benefits or economic value which it promises to deliver to the current and future customers (i.e., a market segment) who will buy their products and/or services. It is part of a company's overall marketing strategy which differentiates its brand and fully positions it in the market. A value proposition can apply to an entire organization, or parts thereof, or customer accounts, or products or services. A value proposition can be written as a business or marketing statement (called a "positioning statement") which summarizes why a consumer should buy a product or use a service. A compellingly worded positioning statement has the potential to convince a prospective consumer that a particular product or service the company offers will add more value or better solve a problem (i.e. the "pain-point") for them than other similar offerings will, thus turning them into a paying client. The positioning statement usually co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Core Competencies
A core competency is a concept in management theory introduced by C. K. Prahalad and Gary Hamel.Prahalad, C.K. and Hamel, G. (1990)The core competence of the corporation", Harvard Business Review (v. 68, no. 3) pp. 79–91. It can be defined as "a harmonized combination of multiple resources and skills that distinguish a firm in the marketplace" and therefore are the foundation of companies' competitiveness. Core competencies fulfill three criteria: # Provides potential access to a wide variety of markets. # Should make a significant contribution to the perceived customer benefits of the end product. # Difficult to imitate by competitors. For example, a company's core competencies may include precision mechanics, fine optics, and micro-electronics. These help it build cameras, but may also be useful in making other products that require these competencies. Background A core competency results from a specific set of skills or production techniques that deliver additional ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process
A business process, business method or business function is a collection of related, structured activities or tasks by people or equipment in which a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels and may or may not be visible to the customers. A business process may often be visualized (modeled) as a flowchart of a sequence of activities with interleaving decision points or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include improved customer satisfaction and improved agility for reacting to rapid market change. Process-oriented organizations break down the barriers of structural departments and try to avoid functional silos. Overview A business process begins with a mission objective (an external event) and ends with achievement of the business object ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariff
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. ''Protective tariffs'' are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead, boosting their country's economy. Tariffs therefore provide an incentive to develop production and replace imports with domestic products. Tariffs are meant to reduce pressure from foreign competition and reduce th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Market
The term open market is used generally to refer to an economic situation close to free trade. In a more specific, technical sense, the term refers to interbank trade in securities. In economic theory Economists judge the "openness" of markets according to the amount of government regulation of those markets, the scope for competition, and the absence or presence of local cultural customs which get in the way of trade. In principle, a fully open market is a completely free market in which all economic actors can trade without any external constraint. In reality, few markets exist which are open to that extent, since they usually cannot operate without an enforceable legal framework for trade which guarantees security of property, the fulfillment of contractual obligations associated with transactions, and the prevention of cheating. A physical open market is a space where anyone wishing to trade physical goods may do so free of selling charges and taxes, and has come to be regard ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Happy Meal
A Happy Meal is a kids' meal usually sold at the American fast food restaurant chain McDonald's since June 1979. A small toy or book is included with the food, both of which are usually contained in a red cardboard box with a yellow smiley face and the McDonald's logo. The packaging and toy are frequently part of a marketing tie-in to an existing television series, film or toyline. Description The Happy Meal contains a main item (a hamburger, cheeseburger or small serving of Chicken McNuggets), a side item ( French fries, apple slices, a Go-Gurt tube or a salad in some areas) and a drink (milk, juice or a soft drink). The choice of items changes from country to country and may depend on the size of the restaurant. In some countries, the choices have been expanded to include items such as a grilled cheese sandwich (known as a "Fry Kid"), or more healthy options such as apple slices, a mini snack wrap, salads or pasta, as one or more of the options. History In the mid-1970s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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