Objectives: After going through the material/ unit you will be able to: 1. Define the term ‘Market Structure’. 2. State the Elements of Market structure. 3. Explain the Determinants of Market Structure. 4. Classify various Forms of Market Structure. 5. Explain the features/Characteristics of Perfect, Monopoly, Monopolistic and Monopsony forms of market. Task: (a) […]
Story Genres: Different types of stories
Stories can be classified into different genres or categories. A genre is a style or category of art, music or literature. Folktale Folk tale is a short story that has been passed down from generation to generation through word of mouth. These stories usually do not have a single author. “Hansel and Gretel”, “Goldilocks and […]
The Three Musketeers- Alexandre Dumas
Author Alexandre Dumas’s The Three Musketeers is an adventure tale full of intrigue, passion, bravery, revenge, loyalty and unswerving friendship. The novel never sags in its energy, moving swiftly from one incident to the next as it blends the fantastical with real figures and events from 17th-century France. A young man named d’Artagnan from Gascony […]
Benchmarking strategy tool
Benchmarking is a strategy tool used to compare the performance of the business processes and products with the best performances of other companies inside and outside the industry. Benchmarking is used as a way to understand how an organization compares with others. It is a means of understanding how an organisation compares with others – […]
Theory of conspicuous consumption (Thorstein Veblen)
Economist and sociologist Thorstein Veblen studied the relationship between the economy, society, and culture and suggested that a lot of people make purchases to display their status and accomplishments and not really to fulfill their needs. He is best known for introducing the concept of conspicuous (excessive) consumption and conspicuous “leisure” to signal one’s social […]
Porter’s Value Chain
The value chain describes the categories of activities within an organisation which, together, create a product or service. Value Chain Analysis involves analyzing the entire value chain from raw materials to finished products. By doing so, it is possible to identify areas where costs can be reduced and efficiency can be improved. What is Value […]
History and Civics (Class – IX): Projects / Assignments
Project / Assignment Topics: Q. ‘The Indian constitution protects the rights of children, women, minorities and weaker sections.’ Elaborate on the basis of a case study. Highlight the civic issues of your locality and what suggestions would you offer to address them. Visit a museum or local site of historical importance and discuss its significance. […]
VRIO Analysis
VRIO is am Internal analysis technique for doing Organizational Analysis. VRIO (acronym for value, rarity, imitability, and organization) framework helps understand the business elements that provides the business with a long-term competitive advantage. VRIO framework analyses an organisations internal resources, processes, and capabilities to see how it could be improved. Here is how VRIO is […]
The McKinsey 7S Framework
The model was developed by McKinsey & Company in the 1980s. Specifically, it was developed by Robert H. Waterman, Jr. and Tom Peters. Their research has shown that the success of an organization depends on a number of mutually supporting variables, besides strategy and structure. According to the 7-S framework, effective organizational change is driven […]
Using Pestle and Porter’s Five Forces Analysis Together
It is important to use the PESTLE and Five Forces Technique together for analysis as it helps to get a detailed picture of the situation that an organization faces. Both PESTLE / PEST and Porter’s Five Forces analysis provides an organization with more information about the external environment. However, using just one of the techniques […]
Competitive Advantage (Strategic Management): Various ways to achieve
Competitive advantage refers to conditions that allow a company or country to produce a good or service at equal value but at a lower price or in a more desirable fashion. These conditions allow the productive entity to generate more sales or superior margins compared to its market rivals. Gaining and sustaining Competitive Advantage is […]
The GE Planning Grid / GE 9 Cell
The General Electronic (GE) Matrix was developed by Mckinsey and Company Consultancy Group in the 1970s. Whereas BCG is limited to products, business units can be products, whole product lines, a service or even a brand. The GE matrix is plotted in a 3 x 3 grid i.e. it includes nine cells based on: long […]
Research on person or business that is part of the unorganized sector
Case Study: Make a visit to your local market or your surrounding area to do a research on any person or business you think is a part of the unorganized sector and find details about the following: Visit to Dharavi, home to the biggest community of idol-makers (Kumbhar community), whose main occupation is making idols. […]
Organised and unorganised sectors in India
Meaning of organised and unorganised sectors. In the Organised sector, businesses have appropriate authority, are governed by various Acts and stricktly follow the relevant rules and regulations. Workers get monthly salaries and other benefits. Unorganised sector comprises of small scale enterprises that are not registered with the government and are not governed by any Acts. […]
On the basis of its occupation, classify the major sectors of Indian economy
On the basis of the various economic activities in which the workers are engaged in, Indian economy can be divided into the following: Primary Sector: Activities are based on natural resources. Farming, livestock rearing, fishing, quarrying, forestry, etc. are primary activities in this sector. Secondary Sector: Also known as the industrial sector, natural products (obtained […]
Economics: Concepts & Principles
Understand basic economic concepts such as scarcity, supply and demand, costs and benefits, etc. What is Economics Economic agents / society have some economic problems because of the scarcity of resources. They need to choose scarce resources among alternatives (scarce resources) based on choice and valuation of alternatives. Thus economics is the study of how […]
“Sapiens: A Brief History of Humankind” by Yuval Harari
In the book “Sapiens: A Brief History of Humankind” written by Yuval Harari, Harari takes us through the various revolutions that humans have undergone, right from their days as hunters to the present day. Harari also goes deep into the topic of capitalism, an economic-led system based on private ownership of the means of production […]
“Another knowledge is possible” by Sousa Santos
The modern world is more connected than ever before and globalisation is ensuring that its benefits such as technology, employment and capital are now available to poorer countries as well. It has also made the western world aware that most of these countries have a deep-rooted culture. While the western world is acknowledging their cultural […]
The Boston Consulting Group (BCG) Matrix
The BCG matrix framework by Boston Consulting Group evaluates the strategic position of the products in the portfolio of a business. While the Product Life Cycle is a great tool to determine how one or a group of products in the portfolio are doing, tools such as the BCG (Boston Consulting Group) Matrix are better […]
Bowman’s Strategic Clock
Bowman’s Strategy Clock presents various ways to position product/services and is a useful tool to understand how firms compete based on price and perceived value. Bowman’s strategic clock is another strategic tool that provides businesses with several options to position their products/services in the market. It suggests eight different ways to position product/services (BOWMAN & […]
