Posts

How Established Firms Can Innovate Like Startups

Historically, startups and small business firms have been most successful in creating innovation in contrast to established firms. However, innovation by itself does not differentiate between small and large firms, and any company, therefore, irrespective of size, can innovate successfully. Not every established firm is a failure and not every start-up is successful. Technology is […]

Strategic Planning Vs. Strategic Management, and the Performance Gap

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 planning-in other words, strategic planning is a subset of strategic management. Strategic management evolved from strategic planning. Fundamentally, strategic planning incorporates environmental scanning and strategy formulation whereas strategic […]