A value chain refers to the whole series of activities that create and build value at every step for a particular company. The concept of value chain analysis is developed by Michael Porter in 1980 in his very famous book 'Competitive Advantage'. Value chain analysis used to analyze those specific activities which can create competitive advantages for a company.
Porter's Generic Strategies are also called Porter marketing techniques. These strategic tactics used by different companies in order to penetrate a market and after penetration then sustain a strong advantage over the competitions. It can also be elaborate as “the primary aim of a company is to attract the industry in which it operates and secondary purpose of the company is to position itself with in that industry.
PEST Analysis is abbreviation of “Political, Economic, Social, & Technological analysis" and it allows companies to make a framework of macro-environmental factors for the purpose of designing effective environmental strategies. The environment of corporate world is ever changing. No business operates in a vacuum environment. The corporate environment is something real complex and dynamic.
The abbreviative business term SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Conducting a SWOT analysis enable a company to see where your company is in the marketplace and what strategies a particular company can develop to increase its market share. The top level management and marketer of the company must know SWOT analysis and its importance for the company.
To retrain the skilled people of organization, there are some morale building tactics must be in place in the workplace. To implement the strategy to need to understand the problem. The following are few steps which may be taken by the manger to build the morale of his employee
Morale is a feeling of togetherness. It is the capacity of a group of people to pull together persistently and consistently in pursuit of a common goal.
To raise the morale of workers is referred to as the building of the morale. This is difficult task as human behavior and motives behind it is largely responsible for building the morale. Morale is mental phenomenon. Building the morale is like marching ahead without knowing the end of the journey. The target here in building morale is not known and the management has to go no trying and trying without caring for the results.
“Motivation is intimately connected with the morale. Good motivation leads to high morale. Poor morale is the manifestation of a weak or defective motivating process”. Physical and mental well-being of an individual is morale for a psychologist. For a social scientist it is a social phenomenon. But for an individual it is the satisfaction which certainly is related to a state of mental health.