Updated October 2026 · reviewed for today In short Organizational innovation is the implementation of a new organisational method in a firm’s business practices, workplace organisation or external relations, a definition set by the OECD and Eurostat in the Oslo Manual (third edition, 2005). It is about how the work is organised, not what the […]
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Updated October 2026 · reviewed for today In short Private labeling is when a retailer sells products made by another company under the retailer’s own brand, such as Costco’s Kirkland Signature or Walmart’s bettergoods. The retailer decides the specification, packaging and price; a contract manufacturer makes the goods. It is also called store brands, and
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Updated October 2026 · reviewed for today In short Goal alignment, often done through cascading goals, means linking every team’s and person’s goals to the organisation’s top priorities, so that work at each level visibly serves the level above. It builds on management by objectives, an idea associated with Peter Drucker, and on goal-setting research
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Updated October 2026 · reviewed for today In short Microsoft’s mission is “to empower every person and every organization on the planet to achieve more.” Satya Nadella set it in 2015 and it has opened every annual report since the fiscal 2015 10-K; the fiscal 2026 10-K now places it after a commitment to make
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Updated October 2026 · reviewed for today In short Product orientation is a business philosophy that starts from the product: the company builds the best product it can, on quality, performance and new features, and expects customers to come to it. Its opposite is market orientation, which starts from what customers need and works back
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Updated October 2026 · reviewed for today In short The Delphi method is a structured way to get a forecast or a consensus from a panel of experts: they answer questionnaires anonymously, see a summary of the group’s answers, and revise their views over several rounds. It was developed at the RAND Corporation in the
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Updated October 2026 · reviewed for today In short Sony is organised as a holding company, Sony Group Corporation, over business segments run by their own operating companies: Game & Network Services, Music, Pictures, Entertainment, Technology & Services, and Imaging & Sensing Solutions. The company renamed itself from Sony Corporation in April 2021 to focus
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Updated October 2026 · reviewed for today In short Horizontal integration means combining with firms at the same stage of the value chain, usually rivals or makers of similar products, to gain scale and market share. Vertical integration means owning more stages of the chain: backward toward suppliers or forward toward distribution and customers. The
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Updated October 2026 · reviewed for today In short The GE-McKinsey matrix (also called the nine-box or industry attractiveness-business strength matrix) is a portfolio tool that rates each business unit on two axes, industry (market) attractiveness and business (competitive) strength, each scored low, medium or high. The result is a 3×3 grid whose cells point
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Updated October 2026 · reviewed for today In short The EPRG framework sorts international companies by the mindset of their top managers: ethnocentric (the home country knows best), polycentric (each host country is different), regiocentric (regions are the unit) and geocentric (think and staff worldwide). It grew out of Howard V. Perlmutter‘s 1969 article “The
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Updated October 2026 · reviewed for today In short The STAR method is a way to answer behavioural interview questions (“Tell me about a time when…”) with one specific story in four parts: Situation, Task, Action, Result. It comes from Development Dimensions International (DDI), whose founder William C. Byham says the STAR format was developed
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Updated October 2026 · reviewed for today In short A differentiation strategy means competing by offering something customers value and see as different enough to pay more for, rather than by having the lowest cost. It is one of the generic strategies Michael Porter described in Competitive Strategy (1980), next to cost leadership and focus.
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Updated October 2026 · reviewed for today In short A Gartner Magic Quadrant is Gartner’s graphic for comparing technology providers in one market. Each vendor is plotted on two axes, ability to execute (vertical) and completeness of vision (horizontal), which sorts them into four groups: Leaders, Challengers, Visionaries and Niche Players. Gartner presents it as
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Updated October 2026 · reviewed for today In short IBM is run by Chairman, President and CEO Arvind Krishna and reports its business in four segments: Software, Consulting, Infrastructure and Financing (2025 Annual Report). The segments sit on top of globally integrated support organizations – sales coverage, parts of marketing, finance, legal, HR and the
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Updated October 2026 · reviewed for today In short Comparative advantage means producing something at a lower opportunity cost than someone else: you give up less of other things to make it. It is not the same as being cheaper or better at it, which is absolute advantage. David Ricardo set out the idea in
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Updated October 2026 · reviewed for today In short A personal mission statement is a short written statement of what you stand for, what you want to contribute and how you want to live, used as a filter for decisions. The idea is most associated with Stephen R. Covey‘s The 7 Habits of Highly Effective
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Updated October 2026 · reviewed for today In short A focused differentiation strategy (also called differentiation focus) means serving one narrow group of customers with an offer that is distinct and worth paying more for, rather than serving the whole market. It is the differentiation variant of focus, one of the three generic strategies (cost
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Updated October 2026 · reviewed for today In short Mendelow’s matrix, also called the power-interest grid, sorts stakeholders by how much power they have over an organisation or project and how much interest they take in it, giving four groups: manage closely, keep satisfied, keep informed and monitor. It is associated with Aubrey L. Mendelow
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Updated October 2026 · reviewed for today In short A market entry strategy is the plan for how a company gets its first customers in a market it does not yet serve: which customers to win first, what to offer them, and how much to commit. Startups usually choose by market type, the distinction Steve
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Updated October 2026 · reviewed for today In short A vertical market is a group of customers in one industry or niche, such as life sciences, legal or travel, served with products built for that industry’s specific needs. A horizontal market is the opposite: one product sold across many industries, such as general web search
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