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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Tactics and Action Plan

The tactics and action plan describe the activities of the organization to implement the business strategy and achieve the strategic objectives. The action plan is the final piece of a strategic management system that translates mission and...

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Goals and Objectives

Goals and objectives provide direction, inspiration, and a standard for measurement of performance for an organization. Goals define direction or destination while objectives set specific targets or milestones for performance measurement. In a...

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