The Ansoff’s model is one of the best tool which companies to develop market and product expansion strategies.Ansoff’s model is based upon four type of strategies namely market penetration strategy, market development strategy, product development strategy and diversification strategy. The strategy is also dependent on company objectives include increasing sales, increasing profit, enter into new [...]
Debits and credits are the accounting terminologies which are used to describe the increase or decrease in the financial components. Any movement in these components can be specified by using the term debits and credits. In T-accounts, left column represents debits while right column represents credits.
Rules of Debits and Credits
There are five components of financial [...]
SWOT is the acronym for strength, weakness, opportunities and strengths whereas TWOS is the acronym for threats,weakness,opportunities and strengths both refers to the same thing. SWOT or TWOS analysis use by the firm to develop strategies or we can say possible set of strategies. Strategist prefer SWOT or TWOS because it gives alternative set of strategies [...]
Direct marketing is the sub-branch of marketing, it’s different from marketing in two perspective. First, direct marketing directly convey message to the targeted individuals and second, customer response is measurable regardless to any medium. For example,Customer click on ads displayed on site, number of customer calling on the mentioned phone numbers.
The most common forms of [...]
Strategic planning is the process of formulating, implementing and evaluating strategies to support the cross functional decision of the company. In today’s world, everything is changing with unexpected speed. Competition,Innovation,polices,environment,technology and human resource are some major concerns of the company.
Companies follow the traditional ad-hoc,forecasting methods to compete in the market will not work for long [...]
Competitive profile matrix is an essential strategic management tool to compare the firm with the major players of the industry. Competitive profile matrix show the clear picture to the firm about their strong points and weak points relative to their competitors. The CPM score is measured on basis of critical success factors, each factor is [...]
Accounting cycle is a sequence of accounting procedures which are used to record, classify and summarize accounting information. The accounting cycle begins with the initial recording of business transactions and concludes with the preparation of formal financial statements summarizing the effect of these transactions upon the assets, liabilities and owner’s equity of the business.
The term [...]
The EFE matrix is the strategic tool used to evaluate firm existing strategies, EFE matrix can be defined as the strategic tool to evaluate external environment or macro environment of the firm include economic, social, technological, government, political, legal and competitive information.
The EFE matrix is similar to IFE matrix the only difference is that IFE [...]
Porter five forces model, developed by Michael E.Porter of Harvard University in 1979, holds the purpose to analyze the industry in order to determine the level of intensity regarding the competition and attractiveness of the industry. The attractiveness of an industry is measured in terms of profit; more profitability means a more attractive industry and [...]
IFE (Internal factor evaluation) matrix is one of the best strategic tool for internal audit of the company. IFE is use for internal audit of functional area of business such as finance, marketing,IT, operations,accounts and others depend upon the nature of business and its size.
Before going into details there are some important terms in IFE matrix. I [...]