During business study programs students often come across courses like management, accounting, finance, economics, and marketing. A business comprises of all these elements in order to be successful in the long run. Though, the main difference between a business plan and a marketing plan is that a business plan focuses on the business operations as a whole. Factors related to accounting, economics, finance, management, and marketing are present in a business plan while marketing is just one element of a large or even a small business that mainly focuses on the increase of sales, research, and development of a particular product of a business. This article will discuss the purpose of business and marketing plans and how they differ. (more…)
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I have chosen Data-Intensive Systems Track, for my master program. This particular program is particularly interesting to me because the various systems and data management courses are offered as core to this program and with particular emphasis on management and its implementation. The suggested electives are also very motivating as many are related to web based designs and architecture and are geared towards making the user more in sync with the data. All courses are very close to the developments occurring in his field, and I think as I go through the program many more innovations will be experienced by me. (more…)
Porter’s thinking on strategy and the five force model has been supported by precision research into industries and companies and has remained consistent as well as developmental. This paper outlines a few strengths and weaknesses that this strategy and the five force model entail. In his five force model, Porter has concentrated on different aspects at different times, spinning the threads together with a logic that is irrefutable. Before Competitive Strategy, most strategic thinking focused either on the organization of a company’s internal resources and their adaptation to meet particular circumstances in the marketplace or on increasing an organization’s competitiveness by lowering prices to increase market share. In Competitive Strategy, Porter managed to reconcile these approaches, providing management with a fresh way of looking at strategy from the point of view of industry itself rather than just from the point of view of markets, or of organizational capabilities. (more…)