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Business Strategy - Page 2

The latest business strategy articles, advice and insights from the ProfileTree team.

Unveiling Key Inventory Management Statistics and Technological Trends

Maha YassinMaha Yassin // 6th February 2024

In the intricate dance of modern business, effective inventory management is not just a logistical necessity; it’s a strategic imperative. The delicate balance between supply and demand, achieved through meticulous inventory control, is critical to a company’s financial health, customer satisfaction, and operational prowess. As businesses navigate this critical terrain, technology emerges as a transformative […]

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Meal Kit Market: Size, Delivery Services, and Opportunities

Panseih GharibPanseih Gharib // 7th February 2024

The meal kit market has significantly grown and transformed in recent years, driven by the increasing demand for convenient and healthy meal options. This market segment has created opportunities for various players to capitalise on the growing meal kit delivery services trend. Understanding the market size, forecast, and industry analysis is crucial for both existing […]

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The State of Business Credit Cards: Trends, Stats, and Insights for 2024

Miral NassarMiral Nassar // 21st February 2024

The world of business credit cards is constantly rising, and as we step into 2024, it’s important to stay up-to-date with recent trends, statistics, and insights. Understanding the current state of business credit cards can provide invaluable knowledge for seasoned business owners and budding entrepreneurs. Let’s investigate the latest statistics, usage trends, and critical factors […]

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6 Do’s and Don’ts To Make Your Logo Great

ProfileTreeProfileTree // 1st February 2024

A brand’s logo is more than just an image that you put on social media and your website. Your logo is truly at the heart of your entire business. It represents your brand on promotional advertisements, product packaging, and everywhere online. Your logo is how customers will recognise you, what will draw in new potential […]

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Health and Beauty Franchise Business

ProfileTreeProfileTree // 30th January 2024

Key things to be aware of when considering a Health and Beauty Franchise Business

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Marketing Statistical Analysis: Revealing Key Insights for Success in 2024

Miranne KhaledMiranne Khaled // 21st February 2024

Businesses today constantly search for ways to gain a competitive edge to thrive in a highly competitive business landscape. One powerful tool that has emerged in this pursuit is marketing statistical analysis. With the ability to extract invaluable insights from vast amounts of data, marketing statistical analysis is crucial for informed decision-making and successful marketing […]

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The Massive Power of Experience: Unveiling Experiential Marketing Statistics

Maha YassinMaha Yassin // 9th February 2024

Brands are desperate to connect in a digital world choked with forgotten banner ads and fleeting social media pings. Forget the fight for clicks; the future is about forging memories. Enter experiential marketing: crafting immersive experiences that leave customers breathless, not bored. And the stats? They’re mind-blowing. Experiential campaigns deliver a 65% ROI boost, build […]

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Business Coaching Statistics and ROI

Panseih GharibPanseih Gharib // 26th January 2024

Business coaching statistics show that it is a rapidly growing industry that offers valuable assistance to individuals and organisations seeking to improve their professional and personal development. With the demand for coaching services rising, it is essential to understand the impact of business coaching on the return on investment (ROI). The business coaching industry encompasses […]

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Your Guide to Integrating Animation Into Your Business

Noha BasionyNoha Basiony // 21st February 2024

In the dynamic landscape of modern business, integrating animation has emerged as a compelling strategy, offering a gateway to heightened engagement, effective communication, and a distinct brand identity. As the digital age continues to redefine the ways we connect with audiences, businesses are recognising the power of animated concepts to cut through the noise, tell […]

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Comprehensive Guide to Business Statistics: McEvoy Overview

Panseih GharibPanseih Gharib // 25th January 2024

Business statistics is the science of utilising numerical data to make informed decisions in the business world. A comprehensive guide to business statistics offers a practical approach to statistics, covering the fundamental concepts of business and economics. It explains fundamental business statistics concepts often obscured in conventional textbooks. Providing descriptive statistics, mathematical notation, and hypothesis tests equips […]

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Businesses in China: A Prominent Economic Powerhouse—With Key Statistics

Miranne KhaledMiranne Khaled // 21st February 2024

The allure of China’s booming economy, fueled by its massive population and formidable industrial might, continues to draw the world’s attention. For investors, economists, and policymakers alike, unlocking the secrets of its business landscape holds paramount importance.  Beyond its sheer size, China’s business environment pulsates with a kaleidoscope of interconnected factors. From surging economic growth […]

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Discover Real Health Benefits with Natural Salt Therapy

ProfileTreeProfileTree // 24th January 2024

As the ongoing coronavirus pandemic continues to spread across Europe, the topics of mental wellbeing and respiratory health have never been more pertinent. Current trends indicate that Covid-19 will change our approaches to health and lifestyle, with more and more consumers investing in products that support and enhance their wellbeing at home, both physically and […]

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Minority Representation in TV: Statististics of Racial Diversity in Media

Esraa AliEsraa Ali // 24th January 2024

Minority representation in television has seen gradual improvement in recent years, according to Statista, but there is still a long way to go. A study conducted by the organisation found that in 2020, 24% of TV show characters were from a racial or ethnic minority background, increasing from 21% in 2019. However, this still falls […]

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Small Business Lending Statistics and Trends

Panseih GharibPanseih Gharib // 27th February 2024

Small businesses are vital in the economy, and access to capital is crucial for their growth and success. Understanding the current state of small business lending is essential for business owners and financial institutions alike.  The lending landscape for small businesses is ever-changing and influenced by economic conditions, regulatory environments, and technological advancements. Small business […]

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Business Burglary Statistics: A Comprehensive Analysis

Esraa MahmoudEsraa Mahmoud // 21st February 2024

Business burglary is a pervasive issue that affects companies of all sizes and industries worldwide. It involves unauthorised entry into a business premises with the intent to commit a crime, typically theft. The implications of business burglary are far-reaching, affecting not only the financial health of the company but also its operational continuity, employee morale, […]

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Complete Business Statistics: Unveiling the Promising Power of Data Analysis

Miranne KhaledMiranne Khaled // 29th January 2024

In the ever-evolving world of business, data has become an invaluable asset. To unlock its potential, organisations turn to the field of business statistics. Business statistics encompasses a wide range of techniques and methodologies that allow companies to make informed decisions and identify trends that enable them to gain a competitive edge.  At its core, […]

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Agile for Marketing: All You Need to Know (With 5 Examples)

ProfileTreeProfileTree // 21st January 2024

Regardless of the industry or business function you’re working with, pretty sure that the word “Agile” has crossed your way. The term “Agile for marketing” has been circulating around as the “modern” approach that transforms the marketing department. For some companies, the Agile methodology has been revolutionary and fruitful. For many others, it was mere […]

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Purchasing Company Insurance: Ultimate Guide

ProfileTreeProfileTree // 21st January 2024

There are many different kinds of business risk. Image credit: Purdue.edu

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Business Travel and Leisure Travel:

Miranne KhaledMiranne Khaled // 22nd January 2024

Travel is the very word that conjures images of distant lands, exotic cultures, and adventures waiting to be had. Throughout history, it has been a catalyst for personal growth, a key driver of cultural exchange, and a vital cog in the global economic engine. But within this vast world of exploration, two distinct categories reign […]

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Business Sustainability 101: Nurturing Success for the Long Haul

Miranne KhaledMiranne Khaled // 26th January 2024

The landscape of economic discourse has undergone a pivotal transformation, marked by the ascendant voice of business sustainability. No longer a peaceful aside in boardrooms, it has become a resounding clarion call echoing through the corridors of industry. This evolution reflects a profound philosophical shift that challenges the longstanding paradigm of unfettered economic growth. For […]

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The Significance of Business Tourism:

Miranne KhaledMiranne Khaled // 22nd January 2024

Business tourism, alternatively referred to as corporate tourism or MICE (Meetings, Incentives, Conferences, and Exhibitions), encompasses a diverse range of travel activities that are directly associated with professional or business objectives. Within the realm of business tourism, individuals or groups embark on journeys to partake in an assortment of events such as meetings, conferences, trade […]

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Event Management for 2024: Revealing the Power of Memorable Experiences

Miranne KhaledMiranne Khaled // 4th February 2024

Event management is an indispensable and integral part of the business world, serving as the driving force behind the creation and execution of impactful gatherings that have the power to leave a lasting impression on attendees. From corporate conferences to product launches and grand-scale celebrations, event management plays a pivotal role in orchestrating seamless experiences […]

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Analysing Business Dynamics Statistics of High-Tech Industries

Panseih GharibPanseih Gharib // 11th February 2024

Analysing business dynamics statistics plays a crucial role in understanding the dynamic nature of high-tech industries. Business dynamics statistics, often called BDS, form an integral part of economic research and are widely recognised for providing valuable insights into businesses’ growth, composition, and behaviour over time. Business dynamics statistics, commonly collected and analysed by organisations such […]

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Work from Home Jobs: Before You Start Looking!

ProfileTreeProfileTree // 18th January 2024

Work from home can come in all shapes and colours. Whatever it is you are good at, your skills and expertise can be put to full use from the comfort of your own room.  Recently more and more young professionals opt to utilise the Internet to start, enhance, or farther their career. The options are […]

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Why Your Business Needs Digital Training

ProfileTreeProfileTree // 18th January 2024

What’s the main difference between Netflix and Blockbuster? One moved with the times and the other didn’t. Image credit: Blockbuster, Netflix

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Exploring the Rollercoaster of Family Business Statistics 

Salma SamirSalma Samir // 20th February 2024

Imagine a world where Grandma’s secret cookie recipe is worth more than Bitcoin, and your cousin’s used sock collection funds the next big tech startup. That’s the reality of family businesses, where blood, sweat, and (sometimes) tears combine to build empires that make Game of Thrones look like a children’s tea party. But before you […]

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The Importance of Visitor Experience with Nuala Mulqueeney

ProfileTreeProfileTree // 17th January 2024

The Covid-19 pandemic has shut the door on international tourism. Thankfully, we have professionals like Nuala on our doorstep.

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B2B Digital Marketing Essentials: A Complete Guide

ProfileTreeProfileTree // 17th January 2024

B2B digital marketing trends are always changing, and so are the methodologies, strategies, and nature of modern campaigns. Whilst the risks and challenges are not rapidly shifting like in the B2C ecosystem, it still does require a lot more effort – rather than just knocking on clients’ doors and offering services! The introduction of digital […]

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Voice Marketing: How to Create an Amazing Brand for Voice

ProfileTreeProfileTree // 17th January 2024

CHOOSE AN EYE-RELIEVING THEME Marketing is the bread and butter of the modern business. Corporations combat each other to install their own brand and voice in the brains of their consumers in an aggressive manner, whether directly or indirectly. The science and art of building a tone of voice within as successful marketing strategy is […]

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Reputation Management: How to Keep Your Business Name in the Clear

ProfileTreeProfileTree // 16th January 2024

The reputation of a business is fundamental to its survival. The trust and certainty of the customer can have an immediate and significant impact on an organization’s main concern. Previously, organizations depended on verbal exchange by their partners keeping in mind the end goal. In this cutting edge time of long range informal communication, sites, […]

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You Are a Media Company

Ciaran ConnollyCiaran Connolly // 20th January 2024

In today’s digital age, every company, no matter its industry, size, or niche, must create and distribute valuable content to establish thought leadership, build a brand, and connect with its target audience. Companies, small businesses, and entrepreneurs need to adopt a media mindset and think of themselves as media companies to market themselves effectively. In […]

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Understanding the Language of Data in Business Statistics

Noha BasionyNoha Basiony // 14th January 2024

Imagine, if you will, a treasure map etched in numbers, each metric a cryptic clue leading to untold riches. We, business analysts, are modern-day cartographers; our tools are not shovels and compasses but algorithms and statistical models. We navigate the twisting terrain of data, unearthing hidden patterns and uncovering correlations that whisper the secrets of […]

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The Importance of Business Statistics for Success

Maha YassinMaha Yassin // 26th January 2024

In the bustling business world, where intuition and risk often tango, a robust partner emerges: business statistics. Far from dry numbers confined to spreadsheets, these statistical tools weave a vibrant tapestry of insights, guiding crucial decisions at every turn. Imagine navigating intricate financial landscapes with predictive models, optimising operations with precise data analysis, or unearthing […]

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Beyond Design: The Statistics of Business Cards

Miral NassarMiral Nassar // 29th January 2024

In today’s digital age, the importance of business cards is often overlooked. However, these small pieces of paper hold significant psychological implications and are still relevant 2023 for businesses of all sizes. Firstly, business cards represent your brand and are a physical reminder of your meeting or interaction with a potential client or partner. In […]

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How did Workplace Communication Statistics Affect the Workplace?

Esraa AliEsraa Ali // 29th February 2024

Effective communication is crucial in the workplace to ensure that all team members are on the same page, working towards common goals and fostering a positive work environment. In contrast, poor workplace communication can lead to misunderstandings, low morale, and decreased productivity. The importance of effective communication in the workplace cannot be overstated, as it […]

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Business Strategy Insight

To be able to set up, develop and grow a successful business, regardless of the industry ─ a good business strategy is vital. Whether you’re looking to set new business priorities, outline plans for growth, determine a product roadmap or plan your investment decisions, you’ll need a strategy. Most businesses start small and stay there.

But if that’s not good enough for you — or if you recognize that staying small doesn’t necessarily guarantee your business’s survival — there are examples of companies out there that have successfully made the transition from start-up to small business to fully-thriving large business. Coming to the realisation that your organisation needs one is easy. However, creating an actual strategy is a little trickier.

While it may sound a bit daunting, iterating like this actually makes strategy easier. It will save you from endless visioning exercises, misdirected SWOT (the Strengths, Weaknesses, Opportunities, and Threats) analyses, and lots of heroically uninformed big thinking. Crafting your strategy in relatively small and concrete chunks and honing the answers to the five questions through iteration will get you a better strategy, with much less pain and wasted time.

Questions to ask when building a business strategy:

  • Why are you here?
  • What is your USP (Unique Selling Proposition)?
  • Who is your perfect customer?
  • Why buy from you?
  • What is your go-to marketing strategy?
  • Who are you focusing on?
  • What is your pricing?

In follow-up meetings to discuss your progress, it’s also important to revisit your action plan regularly and to continually update it. Allowing your action plan to be surpassed by developments in your company is a sure way for it to go above and beyond.