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It is useful when both parties are willing to cooperate in implementing the fair solution. Such solutions, particularly the Nash solution, were used to solve concrete economic problems, such as management–labor conflicts, on numerous occasions. [1] An alternative approach to bargaining is the positive approach. It studies how the surplus is ...
One solution of the nine dots puzzle. It is possible to mark off the nine dots in four lines. [13] To do so, one goes outside the confines of the square area defined by the nine dots themselves. The phrase thinking outside the box, used by management consultants in the 1970s and 1980s, is a restatement of the solution strategy. According to ...
There are three forms of combination: (1) horizontal integration: the combination of firms in the same business lines and markets; (2) vertical integration: the combination of firms with operations in different but successive stages of production or distribution or both; (3) conglomeration: the combination of firms with unrelated and diverse ...
A minimum spanning tree of a weighted planar graph.Finding a minimum spanning tree is a common problem involving combinatorial optimization. Combinatorial optimization is a subfield of mathematical optimization that consists of finding an optimal object from a finite set of objects, [1] where the set of feasible solutions is discrete or can be reduced to a discrete set.
The idea that the resources and capabilities of a new firm can be applied to create different offerings and address the needs of different market segments was first spelled out in Edith Penrose’s influential "Theory of the Growth of the Firm," [11] and since then has become a cornerstone of the resource-based view in strategic management.
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Strategic fit expresses the degree to which an organization is matching its resources and capabilities with the opportunities in the external environment. The matching takes place through strategy and it is therefore vital that the company has the actual resources and capabilities to execute and support the strategy.
The identification and assessment of assumptions solves this problem and forms the foundation for managing new business ventures. CAP involves six steps, combined in a "Learning Loop". Once all six steps are completed, a milestone is reached and the loop starts over again. The loop is constantly repeated as the business is developing.