Tom SpencerI am in the process of reading “First Break All the Rules” by Marcus Buckingham & Curt Coffman. The book makes the insightful point that great managers understand the difference between skills, knowledge and talent: Skills are abilities that may be acquired by training. For example, a mathematics teacher must be skilled in arithmetic, a […]
1. Importance of economies of scale IN THE early 20th century, by using assembly lines to mass produce the Model T Ford, Henry Ford became one of the richest and best-known men in the entire world. Economies of scale provide a company with two main benefits: Increased market share: Lower per unit costs allow a […]
The Product Life Cycle Model can be used to analyse the maturity stage of products and industries 1. Background THE idea of the Product Life Cycle was first developed in 1965 by Theodore Levitt in an article entitled “Exploit the Product Life Cycle” published in the Harvard Business Review on 1 November 1965. 2. Benefit […]