Business Principles

If your homework is a SWOT analysis, you should begin by identifying the organization that will be analyzed. In some cases, the professor will assign you a specific organization, ask you to choose one from a list of companies, or identify the industry and then let you choose your own organization. If the choice is left to you, opt for an organization that you are familiar with or one that is well-known.

The marketing mix was later expanded to become the 7 Ps by adding People, Process, and Physical Evidence. The modified marketing mix was specifically adapted for service industries, since the additional components are essential features of services.

The business model canvas is a template composed of nine segments that correspond with the nine building blocks of a business model. They are arranged as tables, with the left side representing the costs of conducting business and the right side representing the revenues for the business.

Transactional and transformational leadership are two of the leading leadership styles in organizations today. Let's define each one, differentiate them from each other, and compare which is the better leadership style.

Porter postulates that understanding each competitive force, along with its underlying causes reveals the essence of an industry’s profitability, all the while providing an extensive framework that anticipates influencing competition over a certain amount of time.

The BCG matrix classifies business portfolios into four categories, under the basis of industry attractiveness, which is the growth rate of that industry, and competitive position, the relative market share. These two factors uncover the likeliness of the business portfolio’s profitability, which is identified in terms of cash that supports the unit and the generated cash.