It’s My Business Info

TQM, or total quality management, is a management initiative that emphasises a focus on quality across business activities, implemented through specific techniques and regularly monitored and improved processes.

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Developed from Japanese work practices, a quality circle is a small group of employees who voluntarily meet at regular intervals to identify, analyse and resolve work-related problems.

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An approach to problem-solving.

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A meeting, often of a whole department, project or sales team, which takes place off-site and away from the participants’ regular office surroundings, usually for a whole day or sometimes a weekend. The focus is often on team building.

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A way of gaining faster payment of customers’ bills.

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In marketing, cannibalization refers to a reduction in the sales volume, sales revenue, or market share of one product as a result of the introduction of a new product by the same producer.

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Analysis of the forces that affect the competitive environment in an industry in order to understand the attractiveness of a particular market. Just one of the models for strategic analysis of a business. (more…)

A particular pricing strategy an organisation applies by charging a high price when initially entering a market to benefit from premium prices some customers are willing to pay for a new product.
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A challenging statement about the future purpose of the organisation and its prospective direction.
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Beneficial to know, a ‘boomsayer’ is a person who predicts boom times and good news.
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