BUSINESS

Strategic Alliance A strategic alliance is a long-term, non-equity relationship between two or more companies with complementary strengths and goals. The partners agree to work together to achieve mutual benefits. Key Characteristics: Mutually beneficial: Partners contribute unique strengths and resources to the alliance, creating value for each other. Long-term: Alliances typically last for several years. […]

Definition: A consortium is a group of companies or organizations that cooperate in an agreement to achieve a shared objective, typically through the sharing of resources, expertise, and knowledge. Key Features: Collaboration: Members work together to achieve a common goal. Shared Resources: Members contribute resources such as equipment, technology, and expertise. Joint Ventures: Consortiums may […]

Definition: Control is the process of influencing or directing behavior, activities, or systems to attain a desired outcome. It involves the establishment of standards, procedures, and mechanisms to monitor and adjust actions to ensure that objectives are met. Types of Control: Direct control: Exercise of direct authority over individuals or processes. Indirect control: Influence over […]

Definition: A feasibility study is a comprehensive analysis that assesses the viability of a proposed project or business venture. It examines various factors to determine whether the project is technically feasible, economically viable, and socially acceptable. Purpose: To determine the feasibility of a project or business venture To identify potential challenges and opportunities To provide […]

A rollercoaster, also known as a carousel swing, is a ride at an amusement park that consists of a large, circular metal loop or track. It is designed to give passengers a thrilling experience of soaring through the air. Description: Structure: The rollercoaster is built on a large, circular track, which can be either straight […]

Definition: A patent is a legal right granted to an inventor to exclude others from making, using, selling, or importing an invention for a limited time. It is a form of intellectual property protection. Types of Patents: Utility patents: Protect inventions that are useful and novel. Design patents: Protect ornamental designs. Plant patents: Protect plant […]

Definition: A company is a legal entity that is owned and controlled by shareholders. It is a separate and distinct entity from its shareholders, with its own separate legal existence. Types of Companies: Public Companies: Shares are traded on a public stock exchange. Private Companies: Shares are not traded publicly. Limited Liability Companies (LLCs): Owners […]

Life Cycle The life cycle is a sequence of events that occur in a living organism from the time it is conceived to the time it dies. It encompasses all the changes that the organism undergoes throughout its existence, including growth, reproduction, and metabolism. Major Phases of the Life Cycle: 1. Germination:* Occurs when a […]