MIND MAP 3. Formation of a contract A legally enforceable contract must have 3 elements: 1. Agreement 2. Intention to be legally bound 3. Deed or consideration State clearly: What is being bought/sold? Price payable? Was there an OFFER and ACCEPTANCE? NOTE: Offer + Acceptance = Agreement Judged objectively reasonable person test What sort of agreement is it? Domestic not binding Commercial binding NOTE: Presumptions are rebuttable. Is
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Balanced Scorecard and Strategy Map BI430-001 Data Visualization Balanced Scorecard: Part of a system that translates strategy into action. Also‚ gives a balanced view in four perspectives of how well an organization is driving execution and how successful the results are. The four perspectives in the balanced scorecard and strategy map give executives a more balanced view of their organization. Strategy Map: Represents how an organization
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sets out to describe the HR professional map and identify the skills‚ behaviours and knowledge in Band 2 that I consider most essential in the Employee relations role. The HR Professional Map In 2009 the CIPD conducted a report on what human resource practitioner’s did‚ their roles‚ and activities.They interviewed practitioner’s from a large number of professions across different sectors and the result was the production of the HR professional map‚ that does not focus on job titles‚ but instead
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Assessment of the Six Forces Porter’s forces analysis is a framework for industry analysis and business strategy development that draws upon industrial organization economics to determine the competitive intensity and overall industry profitability. These forces are 1) potential entry of new competitors‚ 2) bargaining power of suppliers‚ 3) bargaining power of buyers‚ 4) substitute products‚ 5) rivalry among competing sellers in an industry‚ and 6) power of stakeholders. A change in any
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was‚ What is Strategy? By Michael Porter. In this article Porter talks about the abilities to set objectives‚ facilitate resources and the ability to target the right customers. Porter goes onto talk about operational efficiency. He says that operational efficiency is basically preforming similar tasks better than your rivals in the market. He emphases being different than your rival‚ don’t try to be better and always out do them‚ be different and unique. Porter stresses that to have a competitive
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Ghost Map Reflection Steven Johnson’s The Ghost Map is a national bestseller about Cholera epidemic that happened in London‚ and how it completely changed glob view of urbanization. The book follows Dr. John Snow as he find the source of the outbreak and ultimately changed the way modern city-dwellers‚ city planners‚ physicians‚ and public officials think about the spread of disease and the development of the modern urban environment. His discovery was that the cholera come from contaminated
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their competition. Perceptual maps can have any number of dimensions but the most common is two dimensions. The first perceptual map below shows consumer perceptions of various automobiles on the two dimensions of sportiness/conservative and classy/affordable. This sample of consumers felt Porsche was the sportiest and classiest of the cars in the study (top right corner). They felt Plymouthwas most practical and conservative (bottom left corner). Perceptual Map of Competing Products Cars that
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Beyond Porter – A Critique of the Critique of Porter The writings of the American managementguru and Harvard-Professor Michael E-Porter are considered to be among the most influential of their subject – and among the most critiqued ones. Porter had a lasting influence on strategic management with his books about competitive advantages on industry level and on global level‚ which were written in the eighties. Porter’s models like the Five Competitive Forces‚ the Value Chain or Porters Diamond have
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Story Mapping “Hachi: A Dog’s Tale” Introduction: In the modern day‚ a class full of young students are giving oral presentations about personal heroes. A boy named Ronnie stands up and begins to tell of ’Hachiko’‚ his grandfather’s dog. Years before‚ an Akita puppy is sent from Japan to the United States‚ but his cage falls off the baggage cart at an American train station‚ where he is found by college professor Parker Wilson. Parker is instantly captivated by the dog. When Carl‚
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Assignment1: Advantages and Limitations of Porter’s Five-Force Model Chaitanya K Mandyam American Public University System Michael Porter observed and explained the different levels of profitability across firms and industries by his “Porter’s Five - Forces”. The main factors that affect the difference are: 1. Threat of Substitutes‚ 2. Buyer Power‚ 3. Supplier Power‚ 4. Barriers to Entry/Threat of Entry and 5. Rivalry. He analyzed the importance of all these
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