Michael Hammer and James champy defined BPR as "the FUNDAMENTAL rethinking and RADICAL redesign of the business PROCESS to achieve DRAMATIC improvement in the critical contemporary measures of performance such as costs, quality, service, and speed." This definition contains the four key words: Fundamental: Why do we do what we do? Why do we do it that way? Radical: Signifies [...]
In this article we will discuss about financial synergy, that diversification can achieve and how BCG matrix or portfolio planning can aid in developing this synergy. Broadly, there are two major approaches to achieving competitive advantage: market share and synergy. Synergy implies—joining business units together so that their combined performance exceeds that which would be possible if the businesses operated [...]
This article throws light upon the five stages of development of commerce. The stages are: 1. Primitive Stage 2. Barter Stage 3. Start of Trading 4. Town Economy Stage 5. International Trade. 1. Primitive Stage: In the olden days, the needs were very few and men produced only those things which they essentially needed and consumed. The man tilled the [...]