The fundamental purpose of strategic management is to keep the firm in tune (strategic fit) with its unstable, unpredictable, and competitive business environment. Any form of change in the firm’s external environment, including technological change, is a problem for established firms because these firms find difficulties in coping with it. The reason for this is […]
The external environment of emerging and technology-based industries will tend to be more uncertain as the world moves further into the twenty-first century. Any changes in an innovation firm’s external environment that are driven by the forces of technology, economics, and other influences impede the ability of strategic managers to make strategic decisions to keep […]
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 waste, and improve marketing effectiveness. CP focuses on identifying, sorting, and selecting those individual customers or a group of customers that generate profit […]
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 […]
We also provide strategy and management consulting services in the following local areas in the State of Florida: Apopka | Casselberry | Eustis | Jacksonville | Kissimmee | Lake Mary | Longwood | Maitland | Melbourne | Mount Dora | Ocoee | Orlando | Oviedo | Palm Bay | Pine Hills | Sanford | Saint Petersburg | Tampa | Winter Park | Winter Springs and our offering includes: business strategy consulting | management consulting | business management consulting and small business consulting.