Integrate the digital technology tools into your business strategy and operations in a way to make it difficult for competitors to copy the advantages you create.
Digital Strategy
In part one “The Nature of Business Strategy,” from the bo… Read More
Firms spend an enormous amount of time, money, and effort in financial forecasting to make strategic decisions that determine their long-run financial performance. In practice, spreadsheet-based financial models are used to forecas… Read More
Industries and markets are segmented to develop business and marketing strategies, respectively. Both strategies are equally important to generate and sustain a competitive advantage. Ignoring any of these will not produce effectiv… Read More
James Brian Quinn, in his book Intelligent Enterprises, describes the term “intellect” as it “is the core resource in producing and delivering services.” 1 A powerful intellect is a strength and by combining strengths a firm can build kno… Read More
Strategy implementation is the most difficult part of the strategy. Hrebiniak states that “Making strategy work-executing or implementing it through the organization is even more difficult. Without effective implementation, no bus… Read More
As the main goal of the strategy is to create value for customers and maximize firm value, the purpose of strategic brand management is to create and maximize brand value (added value), by designing, communicating, and transforming the cr… Read More
The economic profit (EP) matric is a powerful tool to value businesses, evaluate strategies, and measure and evaluate performance. It can also be used to generate wealth for owners of small businesses and large corporations. All firms sm… Read More
Every firm, small or large, pursues a formal or informal business strategy to compete and become successful in the marketplace. Some become very successful, and others go out of business. However, to become successful, a company must als… Read More
Customer profit (CP), customer lifetime value (CLV), and return on marketing investment (ROMI) are important marketing measures that can be cascaded together and used by marketers to optimize marketing spending, reduce spending wast… Read More
The terms strategic planning (strategy formulation) and strategic management are synonymous and interchangeably used in the business world; however, both have different meanings. Strategic management encompasses strategic plann… Read More