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A curve connecting the tangency points is called the expansion path because it shows how the input usages expand as the chosen level of output expands. In economics , an expansion path (also called a scale line [ 1 ] ) is a path connecting optimal input combinations as the scale of production expands. [ 2 ]
A strategy describes how the ends (goals) will be achieved by the means (resources) in a given span of time. Often, Strategic planning is long term and organizational action steps are established from two to five years in the future. [2] The senior leadership of an organization is generally tasked with determining strategy.
In Built To Last (1994) they claim that short term profit goals, cost cutting, and restructuring will not stimulate dedicated employees to build a great company that will endure. [149] In 2000 Collins coined the term "built to flip" to describe the prevailing business attitudes in Silicon Valley.
A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization , the organization's financial projections, and the strategies it intends to ...
A firm's production function could exhibit different types of returns to scale in different ranges of output. Typically, there could be increasing returns at relatively low output levels, decreasing returns at relatively high output levels, and constant returns at some range of output levels between those extremes.
The goal of a commercial organization is: "Make more money now and in the future", [5] and its measurements are given by throughput accounting as: throughput, inventory, and operating expenses. The five focusing steps aim to ensure ongoing improvement efforts are centered on the organization's constraint(s).
Short-term goals. Long-term goals. Vacation. Retirement. Down payment for a car or house. Opening a business. Deposit for a new apartment. Paying for a child’s education
Business policy was a term then current for what has come to be called strategic management. [31]) The first chapter of the textbook stated, without using the acronym, the four components of SWOT and their division into internal and external appraisal: Deciding what strategy should be is, at least ideally, a rational undertaking.