Flexibility manufacturing system describes the adaption to changes by an organisation for production purpose using technology or strategies. There are three different levels or components of the manufacturing flexibility. Moreover, the advantages of using the system for moving along with market chnages and limitations to use the method are discussed and studied.
Internal control definition symbolizes the plan or methods used to check the accuracy, safeguard the assets, encourgae adherence to prescribed management policies and operational efficiency of the organisation. In addition it is the integral part of internal control system which has few objectives, advantages and disadvantages as discussed.
What is portfolio analysis in strategic management? Portfolio analysis in strategic management involves analyzing every aspect of product mix to identify and evaluate all products or service groups offered by the company on the market, to prepare the detailed strategies for each part of the product mix to improve the growth rate. It can also … Read more
Methods For Portfolio Analysis Portfolio analysis has various methods which depend upon the purpose and product. One of the things which influence the market analysis is the strategy opted by the company: stability strategy, expansion Here are different methods for portfolio analysis in strategic management: Technological portfolio BCG Growth-Share Matrix Hofer’s Product-Market Evolution Matrix GE … Read more
Strategic Management Strategic management is developing, implementing and controlling the strategy, which defines an organization intends to exist and why it will continue to exist. Still, the organization will maintain its competitive advantage. Strategic intent defines the organization’s actions towards achieving its vision. It motivates people. It clarifies the vision of the company. Strategy in … Read more