business definition

Case Study - Business Definition

1. BUSINESS DEFINITION SUBMITTED BY : NAVAN SODHI AFREEN NISHA DHRITIMAN PARASAR PRATIK NATH 1 LLOYD Business School

2. UNDERSTANDING BUSINESS DEFINITION It is a strategic process by which firms and businesses select positions in their industry. The more unique the positions selected and occupied, the greater is likely to be the competitive advantage enjoyed by the firm. Management is a creative process that can impact the prospects for success of firms and businesses. One of the outcomes of successful business definition is that a firm will focus on the things to do and likewise avoid the things that should not be done. 2

3. COMPETITIVE ADDVANGES 3

4. THE CONCEPT OF FOCUS 4

5. NEED FOR CONTINOUS REVALIDATION & REDEFINITION Even with the huge success and particularly because of it, there is a need to look at business definition to reflect the changing and dynamically challenging competitive environment. 5

6. THANK YOU 6 LLOYD Business School