RFID is an automatic identification method in which information can be stored and remotely retrieved. It’s similar to, but more sophisticated than, the old familiar bar code.
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- Portfolio techniques
An approach pioneered by the Buston Consulting Group that attempted to help managers ”balance” the flow of cash resources among their various business while also identifying their basic strategic purpose within the overall portfolio.
- Generic strategy
A core idea about how the firm can best compete in the marketplace.
Company actions that produce more useful goods and services while continuously reducing resource consumption and pollution . There are four key characteristics of eco-efficient corporations
- Formal planning department
In the traditional approach, planning is done entirely by top-level mangers who often are assisted by a formal planning department, a
- Ethical responsibilities
Another social commitment for strategic managers is Ethical responsibilities . Ethical responsibilities reflect the company’s notion of right and proper business behavior. Ethical responsibilities are obligations that transcend legal requirements. Firm are expected, but not required, to behave ethically.
- Social responsiveness
A firm’s engaging in social actions in response to some popular social need, is called social responsiveness.
- Concentric diversification
A grand strategy that involves the operation of a second business that benefits from access to the first firm’s core competencies.