Oxford Reference defines diagonal integration as strategic acquisitions, alliances and information partnerships between companies. The purpose of diagonal integration is to improve access to consumers and achieve economies of scale. These partnerships are characterized by tightly-related, consumer-oriented services.
The main goal in diagonal integration is to take advantage of possible synergies between companies, thereby increasing profitability and productivity. Companies partnering up via a diagonal integration strategy are typically from different but complementary industries. An example of this strategy is seen with travel agents who offer travel insurance, car rentals, travel planning, ticketing, add-on excursions and other services from business partners.Learn More
Safety in a work environment is important because it helps to protect employees and can keep the costs that an employer has to a minimum. It is important to keep employees safe and to send them home in the same condition in which they came to work.Full Answer >
People use flowcharts to represent ideas in a graphical manner. Flowcharts make it easier to see how complex systems work. While they are often used with computer programming, they can be used in a wide range of fields.Full Answer >
Code of practice is a set of written regulations issued by a professional association or an official body that explains how people working in a particular profession should behave. A code of practice helps workers in a particular profession to comply with ethical and health standards.Full Answer >
Examples of distinctive competencies include lean manufacturing, management development and payroll processing. Distinctive competencies are unique capabilities of a company that set it apart from others in the industry, giving it a competitive advantage. A company's distinctive competencies usually arise from sources such as unique business processes and technology.Full Answer >