Strategy Is Not

A statement of business strategy describes where and how the firm will compete in order to accomplish its objectives, meet customer needs, and obtain a superior financial return. Strategy sets the boundaries around future decisions, describing...

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PEST Analysis

One of the potential tools for the situation analysis in strategic planning is the PEST analysis. No, this is not looking for insects and it is not referring to the competitors that make your life difficult. PEST analysis is shorthand for...

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A Different Differentiation

Strategic differentiation is achieved by providing a unique or different value offering to customers as compared to competitors. A strategy of differentiation is based on developing a deep understanding of customers’ needs and then meeting those...

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Strategy Should Say No

An effective strategy sets the direction for the business but it also should be specific enough to say no – no to pursuing certain customers, no to entering certain markets, no to certain programs or investments, no to hiring a certain...

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Porter’s Five Forces

There are five general market or competitive forces that affect every business to some degree. These are often called Porter’s Five Forces because they were popularized in Michael E. Porter’s book, Competitive Strategy, published in 1980. The...

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