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Organizational culture A cultural audit is an assessment of an organization's values. | https://en.wikipedia.org/wiki?curid=228059 |
Performance improvement is measuring the output of a particular business process or procedure, then modifying the process or procedure to increase the output, increase efficiency, or increase the effectiveness of the process or procedure. In organizational development, performance improvement is organizational change i... | https://en.wikipedia.org/wiki?curid=228061 |
Performance improvement The United States Coast Guard has published the "Performance Improvement Guide (PIG)", which describes various processes and tools for performance management at the individual and organizational levels. There are two main ways to improve performance: improving the measured attribute by using the... | https://en.wikipedia.org/wiki?curid=228061 |
Performance improvement Second, is the THROUGHPUT requirements, often viewed as process efficiency; this is measured in terms of time, waste, and resource utilization. Third, OUTPUT requirements, often viewed from a cost/price, quality, functionality perspective. Fourth, OUTCOME requirements, did it end up making a dif... | https://en.wikipedia.org/wiki?curid=228061 |
Performance improvement In business, human performance in sales, operations and employee engagement is able to be improved through psychologically rewarding experiences "which can trigger a host of intrinsic human emotions and behavior as identified by Maslow. Including rewards in a performance improvement solution is ... | https://en.wikipedia.org/wiki?curid=228061 |
Performance improvement In some cases, monetary incentive plans may decrease employee morale, as in Microsoft's stack-ranking system, where the total reward amount is fixed and employees are graded on an artificially fitted distribution Business performance management and improvement can be thought of as a cycle: | https://en.wikipedia.org/wiki?curid=228061 |
Performance appraisal A performance appraisal, also referred to as a performance review, performance evaluation, (career) development discussion, or employee appraisal is a method by which the job performance of an employee is documented and evaluated. Performance appraisals are a part of career development and consist... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal The interview could function as "providing feedback to employees, counseling and developing employees, and conveying and discussing compensation, job status, or disciplinary decisions". PA is often included in performance management systems. PA helps the subordinate answer two key questions: first... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Other fundamental reasons include "as a basis for employment decisions (e.g. promotions, terminations, transfers), as criteria in research (e.g. test validation), to aid with communication (e.g. allowing employees to know how they are doing and organizational expectations), to establish personal o... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal It has been noted that determining the relationship between individual job performance and organizational performance can be a difficult task. Generally, there are two overarching problems from which several complications spawn. One of the problems with formal PAs is there can be detrimental effec... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Some labor contracts specify a way to take merit into account when firing or promoting, often involving performance reviews. For example, union rules might require an employer to warn a poorly performing employee and have a probationary period before firing. The records generated by performance re... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal The performance management process begins with leadership within the organization creating a performance management policy. Primarily, management governs performance by influencing employee performance input (e.g. training programs) and by providing feedback via output (i.e. performance assessment... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal " Other researchers propose that the purpose of PAs and the frequency of their feedback are contingent upon the nature of the job and characteristics of the employee. For example, employees of routine jobs where performance maintenance is the goal would benefit sufficiently from annual PA feedback... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Criterion deficiency refers to the part of the conceptual criteria that is not measured by the actual criteria. In other words, the quantity of production does not necessarily indicate the quality of the products. Both types of criterion inadequacies result in reduced validity of the measure. Rega... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Especially for blue-collar jobs, accidents can often be a useful indicator of poor job performance, but this is also subject to criterion contamination because situational factors also contribute to accidents. Once again, both types of criterion inadequacies result in reduced validity of the measu... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Rater training is the "process of educating raters to make more accurate assessments of performance, typically achieved by reducing the frequency of halo, leniency, and central-tendency errors". Rater training also helps the raters "develop a common frame of reference for evaluation" of individual... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Self-assessments are when individuals evaluate themselves. There are three common methods of peer assessments. "Peer nomination" involves each group member nominating who he/she believes to be the "best" on a certain dimension of performance. "Peer ratings" has each group member rate each other on... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Research supports five dimensions of OCB: altruism, conscientiousness, courtesy, sportsmanship, and civic virtue. Researchers have found that the OCB dimensions of altruism and civic virtue can have just as much of an impact on manager's subjective evaluations of employees’ performances as employe... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Subjectivity has been associated with supervisor-subordinate conflict, psychological empowerment and subordinate performance. Appraiser bias, however, appears to be perceived as more of a problem in government and public sector organizations. Also, according to some studies, employees wished to se... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Researchers suggest that the study of employees' reactions to PA is important because of two main reasons: employee reactions symbolizes a criterion of interest to practitioners of PAs and employee reactions have been associated through theory to determinants of appraisal acceptance and success. R... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal The revision of many court cases has revealed the involvement of alleged discrimination which was often linked to the assessment of the employee's job performance. Some of the laws which protect individuals against discrimination are "the Title VII of the Civil Rights Act of 1964, the Civil Rights... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Therefore, employment appraisal procedures must be validated like tests or any other selection device. Employers who base their personnel decisions on the results of a well-designed performance review program that includes formal appraisal interviews are much more likely to be successful in defend... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Countries scoring high on assertiveness consider PA to be a way of assuring equity among employees so that higher performing employees receive greater rewards or higher salaries. Countries scoring low on assertiveness but higher in interpersonal relations may not like the social separation and pay... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Not only does it facilitate a more continuous and detailed collection of performance data in some jobs, e.g. call centres, but it has the capacity to do so in a non-obvious, covert manner. The second aspect is in mediating the feedback process, by recording and aggregating performance ratings and ... | https://en.wikipedia.org/wiki?curid=228062 |
Performance appraisal Moreover, sometimes, we are not aware of our behavior of having preferences towards people but there are some tools in order to have a more objective information as using available technology to track performances and record it which enables the manager to have some objective information about the... | https://en.wikipedia.org/wiki?curid=228062 |
Compiere (pronounced KOM-pyeh-reh, "to accomplish, complete, fulfill" in Italian) is an open-source ERP and CRM business solution for the Small and Medium-sized Enterprise (SME) in distribution, retail, service and manufacturing. is distributed by Consona Corporation and through a Partner Network, a collection of train... | https://en.wikipedia.org/wiki?curid=228424 |
Compiere Terms of the deal were not disclosed The application and source code is provided on the basis of the GNU General Public License version 2; this comprises the Community Edition. Also available for a fee is a Professional Edition with more features, a commercial license, documentation and support contracts. enco... | https://en.wikipedia.org/wiki?curid=228424 |
Compiere ), how it is displayed (label on screens and reports, help, display sequence and position relative to other fields), and the display rules. It also contains security and access rules. has been developed with Java EE. has been criticized for not being a pure open source product because of its dependence on Orac... | https://en.wikipedia.org/wiki?curid=228424 |
360-degree feedback A (also known as multi-rater feedback, multi source feedback, or multi source assessment) is a process through which feedback from an employee's subordinates, colleagues, and supervisor(s), as well as a self-evaluation by the employee themselves is gathered. Such feedback can also include, when rele... | https://en.wikipedia.org/wiki?curid=228540 |
360-degree feedback This is due primarily to feedback providers' subjectivity and motivations, inter-rater variations, and whether feedback providers have the ability to fairly evaluate attainment of work and organizational objectives. While these issues exist when is used for development, they are more prominent when ... | https://en.wikipedia.org/wiki?curid=228540 |
360-degree feedback In recent years, this has become encouraged as Internet-based services have become standard in corporate development, with a growing menu of useful features (e.g., multi languages, comparative reporting, and aggregate reporting). However, issues abound regarding such systems validity and reliability... | https://en.wikipedia.org/wiki?curid=228540 |
360-degree feedback The study shows that subjects in the group "known for one to three years" are the most accurate, followed by those "known for less than one year," followed by those "known for three to five years" and the least accurate being those "known for more than five years." The study concludes that the most ... | https://en.wikipedia.org/wiki?curid=228540 |
360-degree feedback Bracken et al. (2001b) and Bracken and Timmreck (2001) focus on process features that are likely to also have major effects on creating behavior change. Greguras and Robie (1998) tracked how the number of raters used in each particular category (direct report, peer, manager) affects the reliability ... | https://en.wikipedia.org/wiki?curid=228540 |
360-degree feedback " One group of studies proposed four paradoxes that explain why 360 evaluations do not elicit accurate data: (1) the Paradox of Roles, in which an evaluator is conflicted by being both peer and the judge; (2) the Paradox of Group Performance, which admits that the vast majority of work done in a cor... | https://en.wikipedia.org/wiki?curid=228540 |
Career development is the lifelong process of managing learning, work, leisure, and transitions in order to move toward a personally determined and evolving preferred future. In educational development, career development provides a person, often a student, focus for selecting a career or subject(s) to undertake in the... | https://en.wikipedia.org/wiki?curid=229112 |
Trade name A trade name, trading name, or business name is a name used by companies that don't want to operate under their registered name. The term for this type of alternative name is a "fictitious" business name. Registering the fictitious name with a relevant government body is often required. In a number of countr... | https://en.wikipedia.org/wiki?curid=230404 |
Trade name In English, trade names are generally treated as proper nouns. In some Canadian jurisdictions, such as Ontario, when a businessperson writes a trade name on a contract, invoice, or cheque, he or she must also add the legal name of the business. Numbered companies will very often operate as something other th... | https://en.wikipedia.org/wiki?curid=230404 |
Trade name In the United Kingdom, there is no filing requirement for a "trading as" name, however, there are requirements for disclosure of the owner's true name and some restrictions on the use of certain names. A minority of U.S. states, including Washington, still use the term trade name to refer to "doing business ... | https://en.wikipedia.org/wiki?curid=230404 |
Trade name Since most people in these circumstances use a business name other than their own name, it's often necessary for them to get DBAs. Generally, a DBA must be registered with a local or state government, or both, depending on the jurisdiction. For example, California, Texas and Virginia require a DBA to be regi... | https://en.wikipedia.org/wiki?curid=230404 |
Trade name The intention of the law is to protect the public from fraud, by compelling the business owner to first file or register his fictitious business name with the county clerk, and then making a further public record of it by publishing it in a newspaper. Several other states, such as Illinois, require print not... | https://en.wikipedia.org/wiki?curid=230404 |
Hamburger University is a training facility of McDonald's, located in the West Loop of Chicago, Illinois. This corporate university was designed to instruct personnel employed by McDonald's in the various aspects of restaurant management. More than 80,000 restaurant managers, mid-managers and owner-operators have gradu... | https://en.wikipedia.org/wiki?curid=230405 |
Earthquake preparedness is a set of measures taken at the individual, organisational and societal level to minimise the effects of an earthquake. Preparedness measures can range from securing heavy objects, structural modifications and storing supplies, to having insurance, an emergency kit, and evacuation plans. Prepa... | https://en.wikipedia.org/wiki?curid=230563 |
Earthquake preparedness The goal of most building designs is to reduce earthquake damage to a building such that it protects the lives of occupants and thus tolerance of some limited damage is accepted and considered a necessary tradeoff. A supplement or precursor to retrofitting can be the implementation of earthquake... | https://en.wikipedia.org/wiki?curid=230563 |
Earthquake preparedness The US FEMA has advice noting that "Disasters can leave children feeling frightened, confused, and insecure" whether a child has experienced it first hand, had it happen to a friend or simply seen it on television. People with disabilities or other special needs may have special emergency prepar... | https://en.wikipedia.org/wiki?curid=230563 |
Earthquake preparedness The United States Department of Health and Human Services addresses specific emergency preparedness issues hospitals may have to respond to, including maintaining a safe temperature, providing adequate electricity for life support systems and even carrying out evacuations under extreme circumsta... | https://en.wikipedia.org/wiki?curid=230563 |
Cost-of-production theory of value In economics, the cost-of-production theory of value is the theory that the price of an object or condition is determined by the sum of the cost of the resources that went into making it. The cost can comprise any of the factors of production (including labor, capital, or land) and ta... | https://en.wikipedia.org/wiki?curid=230735 |
Cost-of-production theory of value ) David Ricardo mixed this cost-of-production theory of prices with the labor theory of value, as that latter theory was understood by Eugen von Böhm-Bawerk and others. This is the theory that prices tend toward proportionality to the socially necessary labor embodied in a commodity. ... | https://en.wikipedia.org/wiki?curid=230735 |
Cost-of-production theory of value The Polish economist Michał Kalecki distinguished between sectors with "cost-determined prices" (such as manufacturing and services) and those with "demand-determined prices" (such as agriculture and raw material extraction). Market price is a familiar economic concept: it is the pric... | https://en.wikipedia.org/wiki?curid=230735 |
Cost-of-production theory of value Since that time, it has been most often associated with Marxian economics, while among modern mainstream economists it is considered to be superseded by the marginal utility approach. Taxes and subsidies change the price of goods and services. A marginal tax on the sellers of a good w... | https://en.wikipedia.org/wiki?curid=230735 |
Idea–expression distinction The idea–expression distinction or idea–expression dichotomy limits the scope of copyright protection by differentiating an idea from the expression or manifestation of that idea. Unlike patents, which may confer proprietary rights in relation to general ideas and concepts "per se" when cons... | https://en.wikipedia.org/wiki?curid=230946 |
Idea–expression distinction The Supreme Court held in "Selden" that, while exclusive rights to the "useful arts" (in this case bookkeeping) described in a book might be available by patent, only the description itself was protectable by copyright. In later cases, the Supreme Court has stated that "unlike a patent, a co... | https://en.wikipedia.org/wiki?curid=230946 |
Idea–expression distinction , "to accept that the functionality of a computer program can be protected by copyright would amount to making it possible to monopolize ideas, to the detriment of technological progress and industrial development." Some courts have recognized that particular ideas can be expressed effective... | https://en.wikipedia.org/wiki?curid=230946 |
Idea–expression distinction Perhaps, cockroaches, gangs, and muggings are also part of the South Bronx "scène à faire", but further similarity such as the film having as characters "a slumlord with a heart of gold and a policeman who is a Zen Buddhist and lives in a garage surely goes beyond the South Bronx "scène à fa... | https://en.wikipedia.org/wiki?curid=230946 |
Scheduling (computing) In computing, scheduling is the method by which work is assigned to resources that complete the work. The work may be virtual computation elements such as threads, processes or data flows, which are in turn scheduled onto hardware resources such as processors, network links or expansion cards. A ... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) Preference is measured by any one of the concerns mentioned above, depending upon the user's needs and objectives. In real-time environments, such as embedded systems for automatic control in industry (for example robotics), the scheduler also must ensure that processes can meet deadlines; this i... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) The "long-term scheduler", or "admission scheduler", decides which jobs or processes are to be admitted to the ready queue (in main memory); that is, when an attempt is made to execute a program, its admission to the set of currently executing processes is either authorized or delayed by the long... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) In modern operating systems, this is used to make sure that real-time processes get enough CPU time to finish their tasks. Long-term scheduling is also important in large-scale systems such as batch processing systems, computer clusters, supercomputers, and render farms. For example, in concurren... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) [Stallings, 396] [Stallings, 370] In many systems today (those that support mapping virtual address space to secondary storage other than the swap file), the medium-term scheduler may actually perform the role of the long-term scheduler, by treating binaries as "swapped out processes" upon their ... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) Another component that is involved in the CPU-scheduling function is the dispatcher, which is the module that gives control of the CPU to the process selected by the short-term scheduler. It receives control in kernel mode as the result of an interrupt or system call. The functions of a dispatche... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) In packet-switched computer networks and other statistical multiplexing, the notion of a scheduling algorithm is used as an alternative to first-come first-served queuing of data packets. The simplest best-effort scheduling algorithms are round-robin, fair queuing (a max-min fair scheduling algor... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) Whenever a scheduling event occurs (a task finishes, new task is released, etc.), the queue will be searched for the process closest to its deadline, which will be the next to be scheduled for execution. Similar to shortest job first (SJF). With this strategy the scheduler arranges processes with... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) In contrast, a non-work conserving scheduler is a scheduler that, in some cases, may leave the scheduled resources idle despite the presence of jobs ready to be scheduled. There are several scheduling problems in which the goal is to decide which job goes to which station at what time, such that ... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) Since threads can only use one time unit of the round-robin in the highest-priority queue, starvation can be a problem for longer high-priority threads. The algorithm used may be as simple as round-robin in which each process is given equal time (for instance 1 ms, usually between 1 ms and 100 ms... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) It relied on the program to end or tell the OS that it didn't need the processor so that it could move on to another process. This is usually called cooperative multitasking. Windows 95 introduced a rudimentary preemptive scheduler; however, for legacy support opted to let 16 bit applications run... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) Mac OS 9 uses cooperative scheduling for threads, where one process controls multiple cooperative threads, and also provides preemptive scheduling for multiprocessing tasks. The kernel schedules multiprocessing tasks using a preemptive scheduling algorithm. All Process Manager processes run withi... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) The round robin policy is named SCHED_RR in AIX, and the fair round robin is called SCHED_OTHER. In Linux 2.4, an O(n) scheduler with a multilevel feedback queue with priority levels ranging from 0 to 140 was used; 0–99 are reserved for real-time tasks and 100–140 are considered nice task levels.... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) Con Kolivas' work, most significantly his implementation of "fair scheduling" named "Rotating Staircase Deadline", inspired Ingo Molnár to develop the Completely Fair Scheduler as a replacement for the earlier O(1) scheduler, crediting Kolivas in his announcement. CFS is the first implementation ... | https://en.wikipedia.org/wiki?curid=231920 |
Scheduling (computing) 0–63 are reserved for time-shared threads (default, SCHED_OTHER policy), 64–95 for user threads which entered kernel space, 96-128 for kernel threads, 128–191 for user real-time threads (SCHED_FIFO and SCHED_RR policies), and 192–223 for software interrupts. Solaris uses a multilevel feedback que... | https://en.wikipedia.org/wiki?curid=231920 |
Knowledge economy The knowledge economy (or the knowledge-based economy) is the use of knowledge to create goods and services. In particular, it refers to a high portion of skilled workers in the economy of a locality, country, or the world, and the idea that most jobs require specialized skills. In particular, the mai... | https://en.wikipedia.org/wiki?curid=232462 |
Knowledge economy The term "knowledge economy" was made famous by Peter Drucker as the title of Chapter 12 in his book "The Age of Discontinuity" (1969), that Drucker attributed to economist Fritz Machlup, originating in the idea of scientific management developed by Frederick Winslow Taylor. A key concept of the knowl... | https://en.wikipedia.org/wiki?curid=232462 |
Knowledge economy Thus far, the developed world has transitioned from an agricultural economy (pre-Industrial Age, largely the agrarian sector) to industrial economy (with the Industrial Age, largely the manufacturing sector) to post-industrial/mass production economy (mid-1900s, largely the service sector) to knowledg... | https://en.wikipedia.org/wiki?curid=232462 |
Knowledge economy Consequently, the technical STEM careers including computer scientists, engineers, chemists, biologists, mathematicians, and scientific inventors will see continuous demand in years to come. Additionally, well-situated clusters, which Michael Porter argues is vital in global economies, connect locally... | https://en.wikipedia.org/wiki?curid=232462 |
Knowledge economy Many other cities and regions try to follow a knowledge-driven development paradigm and increase their knowledge base by investing in higher education and research institutions in order to attract high skilled labor and better position themselves in the global competition. Yet, despite digital tools d... | https://en.wikipedia.org/wiki?curid=232462 |
Knowledge economy The United Nations Commission on Science and Technology for Development report (UNCSTD, 1997) concluded that for developing countries to successfully integrate ICTs and sustainable development in order to participate in the knowledge economy they need to intervene collectively and strategically. Such ... | https://en.wikipedia.org/wiki?curid=232462 |
Free-trade zone A foreign-trade zone (FTZ) is a class of special economic zone . It is a geographic area where goods may be landed, stored, handled, manufactured, or reconfigured and re-exported under specific customs regulation and generally not subject to customs duty. Free trade zones are generally organized around ... | https://en.wikipedia.org/wiki?curid=232502 |
Free-trade zone Free zones range from specific-purpose manufacturing facilities to areas where legal systems and economic regulation vary from the normal provisions of the country concerned. Free zones may reduce taxes, customs duties, and regulatory requirements for registration of business. Zones around the world oft... | https://en.wikipedia.org/wiki?curid=232502 |
Free-trade zone 5 million people, and five years later, in 2003, EPZs in 116 countries employed 43 million people. In Brazil, 25 Export-Processing Zones have been authorized in 17 states, and 19 of them have been implemented. Brazilian government launched the first Export processing zones in 1988, aiming to fight the u... | https://en.wikipedia.org/wiki?curid=232502 |
Free-trade zone The Steelyard, like other Hansa stations, was a separate walled community with its own warehouses, weighing house, chapel, counting houses, and residential quarters. In 1988, remains of the former Hanseatic trading house, once the largest medieval trading complex in Britain, were uncovered by archaeolog... | https://en.wikipedia.org/wiki?curid=232502 |
Free-trade zone The rationale is that the zones will attract investment, create employment, and thus reduce poverty and unemployment, stimulating the area's economy. These zones are often used by multinational corporations to set up factories to produce goods (such as clothing, shoes, and electronics). Free-trade zones... | https://en.wikipedia.org/wiki?curid=232502 |
Free-trade zone SEZs are viewed as instruments to enhance the acceptability and the credibility of the transformation policies and to attract domestic and foreign investment. The change in terminology has been driven by the formation of the World Trade Organization (WTO), which prohibits members from offering certain t... | https://en.wikipedia.org/wiki?curid=232502 |
Free-trade zone The theory of the ASF is that by more closely linking the amount of FTZ-designated space to the amount of space activated with Customs and Border Protection, Zone users would have better and quicker access to benefits. When an FTZ grantee evaluates whether or not to expand its FTZ project in order to im... | https://en.wikipedia.org/wiki?curid=232502 |
Free-trade zone From California to Oklahoma, North Carolina, and New York State, FTZs all across the nation have recently been making use of the flexible opportunities offered by the Alternative Site Framework (ASF) program. The ASF program is designed to serve zone projects that want the flexibility to both attract us... | https://en.wikipedia.org/wiki?curid=232502 |
Free-trade zone When the taxation-free years are over, the corporation that set up the factory without fully assuming its costs is often able to set up operations elsewhere for less expense than the taxes to be paid, giving it leverage to take the host government to the bargaining table with more demands, but parent co... | https://en.wikipedia.org/wiki?curid=232502 |
Anti-pattern An anti-pattern is a common response to a recurring problem that is usually ineffective and risks being highly counterproductive. The term, coined in 1995 by Andrew Koenig, was inspired by a book, "Design Patterns", which highlights a number of design patterns in software development that its authors consi... | https://en.wikipedia.org/wiki?curid=233956 |
Economies of scope are "efficiencies formed by variety, not volume" (the latter concept is "economies of scale"). In economics, "economies" is synonymous with cost savings and "scope" is synonymous with broadening production/services through diversified products. For example, a gas station that sells gasoline can sell ... | https://en.wikipedia.org/wiki?curid=234138 |
Economies of scope Unlike economies of scale, "which can be reasonably be expected to plateau into an efficient state that will then deliver high-margin revenues for a period", economies of scope may never reach that plateau at all. As Venkatesh Rao of Ribbonfarm explains it, "You may never get to a point where you can... | https://en.wikipedia.org/wiki?curid=234138 |
Economies of scope served as the impetus behind the formation of large international conglomerates in the 1970s and 1980s, such as BTR and Hanson in the UK and ITT in the United States. These companies sought to apply their financial skills across a more diverse range of industries through economies of scope. In the 19... | https://en.wikipedia.org/wiki?curid=234138 |
Economies of scope Further economies of scope occur when there are cost savings arising from byproducts in the production process, such as when the benefits of heating from energy production having a positive effect on agricultural yields. | https://en.wikipedia.org/wiki?curid=234138 |
Product lining In marketing jargon, product lining is offering several related products for sale individually. Unlike product bundling, where several products are combined into one group, which is then offered for sale as a units, product lining involves offering the products for sale separately. A line can comprise re... | https://en.wikipedia.org/wiki?curid=234169 |
Product lining It increases the likelihood of customers purchasing new products from the company that have just been added into the product line due to the previous satisfying purchases. In marketing, the number of product lines offered is referred as the width of product mix. Product mix, also known as product assortm... | https://en.wikipedia.org/wiki?curid=234169 |
Product lining Although specialisation of products (narrow product mix) might be easier for businesses to operate and manage, it reduces the ability to reach out to diverse markets as they fail to offer sufficient options for consumers to cater to their “needs and wants”. The length of product mix refers to the total n... | https://en.wikipedia.org/wiki?curid=234169 |
Product lining Although both products fit into the same product line, they are completely dissimilar in use while one is editable and the other is not. When companies add a new item to a product line, it is referred to as the product line extension. The purpose of it is to attract new customers who may not be familiar ... | https://en.wikipedia.org/wiki?curid=234169 |
Product lining For instance, vehicle manufacturers produce their vehicle in different models including economy models, environmental models, luxury models and more. Each of them has an individual cost or price to display the difference in levels. With that being said, in order for any pricing techniques to be effective... | https://en.wikipedia.org/wiki?curid=234169 |
Product lining Customers will come into the store looking for the advertised product and find out is out of stock or doesn't even exist, and afterward be encouraged to purchase a comparable, higher-priced product that is available in store. Similar to Bait pricing, retailers use leader pricing to entice customers to co... | https://en.wikipedia.org/wiki?curid=234169 |
Product lining The jargon for "stretching the line" in both the directions is "two-way stretch". "Image anchors" are highly promoted products within a line that define the image of the whole line. Image anchors are usually from the higher end of the line's range. When you add a new product within the current range of a... | https://en.wikipedia.org/wiki?curid=234169 |
Individual branding Individual branding, also called individual product branding, flanker brands or multibranding, is "a branding strategy in which products are given brand names that are newly created and generally not connected to names of existing brands offered by the company." Each brand, even within a same compan... | https://en.wikipedia.org/wiki?curid=234189 |
Individual branding The British-Dutch consumer goods company Unilever operates in 190 countries worldwide. The company has a portfolio that includes the following categories and brands: Of the company's 400 brands, 14 have a yearly profit of over €1 billion, while the global yearly turnover of the company was €48.4 bil... | https://en.wikipedia.org/wiki?curid=234189 |
Positioning (marketing) Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors. In order to position products or brands, companies may emphasize the distinguishing features of their brand (what it is, what it does and how, etc... | https://en.wikipedia.org/wiki?curid=234194 |
Positioning (marketing) The positioning concept became very influential and continues to evolve in ways that ensure it remains current and relevant to practising marketers. David Ogilvy noted that while there was no real consensus as to the meaning of positioning among marketing experts, his definition is "what a produ... | https://en.wikipedia.org/wiki?curid=234194 |
Positioning (marketing) Value can be expressed in numerous forms including product benefits, features, style, value for money. The precise origins of the positioning concept are unclear. Cano (2003), Schwartzkopf (2008) and others have argued that the concepts of market segmentation and positioning were central to the ... | https://en.wikipedia.org/wiki?curid=234194 |
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