by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is a Company Lifecycle?Lifecycle refers to developmental stages that occur during the lifetime of a person or organism. Company Lifecycle is the various stages or phases of a business through which it develops. Commonly-understood stage of the business lifecycle...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is a Freelance Economy?The freelance economy, or Gig Economy, is an economy of independent workers or individuals who are self-employed and execute different projects based on an agreed fee with the client. Problems and Challenges of the Freelance EconomyThere...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is a Low-Cost Producer?A low-cost producer is a company in a specific industry that can produce goods at a lower cost than other producers. That is, the producer has a higher profit margin on the sale of a product than competitors. What is a Low-Cost...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is an Assortment Strategy?An assortment strategy seeks to display a variety or all products in a company’s inventory that will be displayed for sale. The seller generally provides details of products, such as the depth, breadth, and width of...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is a Consortium?A consortium is realized when two or more firms, governments, households, or individuals come together to participate towards the same objective. The participants often pool their resources together in this pursuit. Consortia are common when such...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is the Network Effect?The network effect is a theory that posits that the more people use a product or service, the better the product or service. The most popular example used in describing the network effect is the internet.
