Theory of the firmThe theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. Firms are key drivers in economics, providing goods and services in return for monetary payments and rewards. Organisational structure, incentives, employee productivity, and information all influence the successful operation of a firm in the economy and within itself.
Business modelA business model describes how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The process of business model construction and modification is also called business model innovation and forms a part of business strategy. In theory and practice, the term business model is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, sourcing, trading practices, and operational processes and policies including culture.
Amazon (company)Amazon.com, Inc. (ˈæməzɒn , Ukalsoˈæməzən ) is an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. It has been often referred to as "one of the most influential economic and cultural forces in the world," and is often regarded as one of the world's most valuable brands. It is considered to be one of the Big Five American technology companies, alongside Alphabet (parent company of Google), Apple, Meta (formerly Facebook, Inc.
Business process modelingBusiness process modeling (BPM) in business process management and systems engineering is the activity of representing processes of an enterprise, so that the current business processes may be analyzed, improved, and automated. BPM is typically performed by business analysts, who provide expertise in the modeling discipline; by subject matter experts, who have specialized knowledge of the processes being modeled; or more commonly by a team comprising both. Alternatively, the process model can be derived directly from events' logs using process mining tools.
Competitor analysisCompetitive analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. This analysis provides both an offensive and defensive strategic context to identify opportunities and threats. Profiling combines all of the relevant sources of competitor analysis into one framework in the support of efficient and effective strategy formulation, implementation, monitoring and adjustment. Competitive analysis is an essential component of corporate strategy.
The Nature of the Firm"The Nature of the Firm" (1937) is an article by Ronald Coase. It offered an economic explanation of why individuals choose to form partnerships, companies, and other business entities rather than trading bilaterally through contracts on a market. The author was awarded the Nobel Memorial Prize in Economic Sciences in 1991 in part due to this paper. Despite the honor, the paper was written when Coase was an undergraduate and he described it later in life as "little more than an undergraduate essay.
Business Process Model and NotationBusiness Process Model and Notation (BPMN) is a graphical representation for specifying business processes in a business process model. Originally developed by the Business Process Management Initiative (BPMI), BPMN has been maintained by the Object Management Group (OMG) since the two organizations merged in 2005. Version 2.0 of BPMN was released in January 2011, at which point the name was amended to Business Process Model and Notation to reflect the introduction of execution semantics, which were introduced alongside the existing notational and diagramming elements.
CompetitionCompetition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition. Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources.
Amazon PrimeAmazon Prime is a paid subscription service of Amazon which is available in various countries and gives users access to additional services otherwise unavailable or available at a premium to other Amazon customers. Services include same, one- or two-day delivery of goods, and streaming music, video, e-books, gaming, and grocery shopping services. In April 2021, Amazon reported that Prime had more than 200 million subscribers worldwide.
Competitive intelligenceCompetitive intelligence (CI) is the process and forward-looking practices used in producing knowledge about the competitive environment to improve organizational performance. It involves the systematic collection and analysis of information from multiple sources, and a coordinated CI program. It is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers in strategic decision making for an organization.
