Competitive advantage is what makes one supplier better than other suppliers. It is an advantage over competitors gained by offering consumers greater value, either by means of lower costs or by providing greater benefits and service that...
Read moreCase Study in Strategy Effectiveness
I define business strategy as a description or statement of where and how an organization intends to compete. A longer version of this definition would be business strategy is a description of where and how an organization intends to compete...
Read moreSWOT Analysis
Most people in the business world are familiar with SWOT analysis – Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis is useful in many life and business decision-making situations. It is an important part of the strategic planning...
Read moreStrategic Segmentation
Most people are familiar with the concept of market segmentation, dividing the market for a company or product into various buckets that can then be further analyzed and understood. In consumer products the market is often segmented based on...
Read moreFive Perceptions of Strategy Development
Plan, path, pattern, position, or perspective – which is your perception of the development of business strategy? Depending upon the way that your organization develops and utilizes your strategy, you may have a different perception of how...
Read moreWhy Strategic Planning Fails
Strategic planning is a key process for driving change, growth, and value creation in an organization. Business strategy defines where and how to compete. The strategic planning process provides a discipline for understanding customer needs, the...
Read moreStrategy Focuses Effort
One of the primary benefits of business strategy is providing focus for the organization. Without strategy to serve as the mantra, the organization can wander into chaos as people pull in different directions or as a stream of new priorities...
Read moreStrategy Sets Direction
One of the main purposes of business strategy is setting direction. The strategy defines the course of the organization required to achieve its goals and objectives and move cohesively forward. Business strategy is a statement of where and how...
Read moreGeneric Strategies
The concept of generic strategies was popularized by the book “Competitive Strategy” from Michael Porter in 1980. These are not business strategies in the sense that they do not provide clarity and definition of the strategic direction of a...
Read moreStrategic Differentiation
The purpose of any business is to provide goods or services that offer benefits which fulfill the needs of customers. The value offering of a company is the package of benefits that it provides to its customers, which includes all of the benefits...
Read more