The term “best practice” came to common usage during the benchmarking craze of the 1990s. Since then, it has been pursued by many “learning” organisations, supported by a burgeoning consulting industry who claim to have uncovered the best ways to do everything from strategic planning to systems reengineering. The promise is quite compelling: “Benefit from […]
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With social media quickly becoming the top way for businesses to brand themselves, attention must be paid in keeping your branding consistent and on message. The last thing you want to do is leave followers/visitors confused by your social media posts. Instead it’s about engaging with people, building brand awareness, and growing your client/customer base. […]
Why Napoleon? We all know that Napoleon had magnificent victories at Toulon, Tivoli (perhaps his greatest of all time), The Pyramids and Austerlitz – but what can we learn about his approach to strategy and winning? And what’s the connection with neuroscience? Well, it turns out that Napoleon unknowingly used an understanding of neuroscience to […]
How can you change the behavior of your customers? Try the Theory of Planned Behavior. The Theory of Planned Behavior (TPB) is an established behavioral psychological theory that links beliefs and behavior. It was developed by Icek Ajzen in 1985 and since been applied to studies of the relations among beliefs, attitudes, behavioral intentions, and behaviors in various […]
It goes without saying that understanding the competitive landscape is crucial to identifying competitors and succeeding in the market. Consulting firms, such as Corporate Business Solutions Reviews, and academic strategists over the years have studied countless organizations and derived several competitive analysis frameworks. A few examples include: Porter’s Five Forces Industry Lifecycle Analysis Strategic Groups […]
So, you have a robust product roadmap, covering all product features from the most basic to the most innovative. Now, how did you prioritize these features? Did you prioritize things correctly? With limited resources, all organizations strive to prioritize those activities that drive the most value. This is particularly true in product development. Focusing on […]
What’s the issue here? In the fast-paced world of today, we are urged to undertake ‘business at the speed of thought’ and become increasingly action orientated. Intuitively it makes sense to increase our speed of response in this rapidly changing environment. But, as we move to action, have our organisations become more effective at understanding […]
Leaders easily handle routine decisions and events by relying on past practices and habit. However, today leaders face complex decisions and unprecedented conditions requiring thoughtful analysis instead of conditioned reactions. Instead of being “safe,” conventional thinking is dangerous. The fast pace of changes requires sound strategic thinking practices. If leaders fail to consider all aspects, […]
Putting the Balanced Scorecard to work can be quite a challenge. Yes, the Balanced Scorecard has been around for a long time. Yes, there are many Balanced Scorecard example out there. But that doesn’t change the fact that most organizations struggle to put the Balanced Scorecard to work and get all the promised benefits. This […]
You’ve no doubt heard about using partnerships to further your business, but perhaps you dismissed it as something only the big brands can do. That’s not the case — in fact, businesses of all sizes are in an ideal position to engage in strategic partnerships and reap big rewards. Consider a union like the one […]
Segmentation. Everyone’s doing it, but are you doing it right? Although segmentation should help target the right customers, it does not always bring the intended value. Inappropriately or incorrectly defined segments may lead management to make bad strategic decisions. Market and Customer Segmentation defines a number of different groups of people or organizations, which […]
First, let’s define Value Proposition. Here’s what Wikipedia has to say: A value proposition is a promise of value to be delivered and acknowledged. Creating a value proposition is a part of business strategy. Kaplan and Norton say “Strategy is based on a differentiated customer value proposition. Satisfying customers is the source of sustainable value creation.” […]
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