Difference Between A Business Plan And A Business Model
The business model is the mechanism through which the company generates its profit while the business plan is a document presenting the company’s strategy and expected financial performance for the years to come.As you can see, the business model is at the center of the business plan.For example, the business model for Microsoft was to …. Read More
Is There Current or Potential Demand For Your Product
One major phenomenon we experience as entrepreneurs starting and growing ventures is the problem of accurately forecasting demand. We see lots of people very excited about the possibilities of their businesses, usually very excited and highly motivated about it, which by the way is very great. I remember a particular client I saved a lot …. Read More
The Strategist’s Challenge
The strategist’s major challenge is to simultaneously manage three critical factors: VALUES, OPPORTUNITIES and CAPABILITIES. VALUES refer to the mission and scope of the organization; how this organization sees and defines itself. One way to analyse a firm’s values or its missions is to look at its mission statements. Most publicly traded companies have these …. Read More
What is Strategic Analysis?
How does one assess a business strategy? We define strategic analysis as the assessment of an organization’s current competitive position and the identification of valuable competitive positions in the future and how to achieve them. First, strategic analysis is done from a generalist perspective. By this I mean, we cross the functional boundaries of the …. Read More
The Role of Strategy
Strategy must be created across 3 major areas in every organization – The Corporate Level The Business Unit Level The Functional Level THE CORPORATE LEVEL This is the highest and most broad level of strategy in business. This deals with high level concerns such as defining the vision, clarifying objects, and setting goals. Creating and …. Read More