A company achieves strategic competitiveness when it is successful in formulating and implementing a value creation strategy. That is the definition, according to Hitt, Ireland, and Hoskisson in their book, Strategic Management: Competition and
Business and Strategy
What's it: A business is an entity or activity involved in producing goods and services to satisfy the consumers' needs and wants. Entrepreneurs take risks to build a business by combining resources and using them to produce goods and services.
What's it: Enterprise is a business organization. It comes from Old French, which means "something done." Those who start, operate, and run it are called entrepreneurs. Specifically, an enterprise is a profit-oriented business or
Market structure refers to the characteristics of market organizations that determine the behavior of companies in an industry. It determines the nature of competition and price and has implications for the market share and profits that companies
The macro-environment is dynamic and constantly changing from time to time. Globalization makes it challenging to avoid external shocks to domestic business. The economy also intertwined from one country to another. Shocks in one country, such as the
What's it: The business sector is a private economic actor dealing with producing goods or providing services. It covers all businesses, from small to giant, across industries. Together with the household sector, it forms the private sector. And