How Social Factors Shape Business Strategy and Drive Success
Success in business is not achieved just with a great product or service, but also the understanding about the social factors that shape our world. From changing consumer preferences to cultural norms and economic trends, there are countless variables that…
Porter’s Five Forces Model: What Is It, And How Can You Use It?
Businesses are always looking for an edge in the market, and Porter’s Five Forces Model is one tool that can give them just that. In this blog post, we will take a deep dive into what this model is, how…
Strategic Management & Its 7 Steps that you should know about
Strategic management is all about making long-term decisions about the direction of an organization and allocating its resources to pursue this direction. It involves setting goals, analyzing the competitive environment, and considering both internal and external factors that can impact…
5 Advantages and Disadvantages of Strategic Alliance
Strategic alliances are partnerships between two or more companies who share a mutual core interest. There are many benefits and disadvantages to this type of business arrangement, which can provide significant opportunities for both parties. Read on to learn about…
The 9 Benefits of A Balanced Scorecard
A balanced scorecard is an important tool that helps a company understand how well they are achieving their goals. This article reveals nine benefits of a balanced scorecard, each one laying out the context for why having a balanced scorecard…
Merger and Acquisition: How Does It Helps a Company?
Mergers and acquisitions are among the most talked-about subjects in business. They have been the subject of many articles and scholarly studies. In this article, we will discuss what is a merger and acquisition, how does it helps company to…
The BCG Matrix: What It Is and 7 Reasons Why its Still Useful For Businesses
BCG matrix, also known as the Boston Consulting Group Matrix, is a management tool that classifies companies on the basis of their market share and growth rates. The BCG matrix is often used by business people to make strategic decisions…
7 Difference Between Strategy and Tactics
It can be easy to get confused with these terms when they are used interchangeably throughout the day. However, it’s important that you understand the difference between strategy and tactics so you don’t make any mistakes in your approach. Here…
Generations of Knowledge Management: First, Second, And Third Generations
There are three main generations of knowledge management systems. The first generation of knowledge management began in the early 1960s with the invention of computer-mediated systems for sharing and storing information. The second generation of knowledge management appeared in the…
What Is Strategic Intent and Why is it Important For Businesses?
Businesses have to make decisions all the time and those decisions have a direct impact on their businesses. Strategic intent, or the goals that a business wants to achieve, is central in this process. It is a question of getting…