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 tech… Read More
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 t… 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