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Business Strategy - Page 5

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

What Is Corporate Strategy? 3 Steps to Success

ProfileTreeProfileTree // 4th February 2024

Many companies lack long term planning. Image credit: s24352.pcdn.co

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What Is A Value Proposition? Lessons To Learn From For Marketing Success

ProfileTreeProfileTree // 20th March 2024

A value proposition is a marketing statement for a business. A company uses this statement to illustrate the reasons a potential target group should purchase a product or subscribe to a service. It sounds so straightforward…but vital for your business!

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Top Latest Small Business Loan Statistics

Eman SamehEman Sameh // 20th March 2024

Delving into the world of business loans can seem like a daunting task, filled with complexities and uncertainties. However, by carefully examining the latest statistics on small business financing, valuable insights can be gained to help navigate the funding landscape and make informed decisions. In this article, we will decode percentage approval rates, average loan […]

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Comprehensive Business Insurance Statistics and Insights

Panseih GharibPanseih Gharib // 31st January 2024

Protecting businesses through various insurance policies and covers has become increasingly important in today’s volatile economic environment. Business insurance safeguards against potential risks and losses and provides security and stability for business operations. Wading through the business protection insurance world can often seem daunting, as we’ve all grappled with such insecurities at some point. By […]

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Maslow’s Hierarchy of Needs: The Key to Understanding Your Target Customers?

ProfileTreeProfileTree // 26th November 2023

Mercedes consciously reference the fact that their products provide something well beyond what is necessary of a car. Image credit: Mercedes

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Unlocking the Power of Business Leadership Statistics

Eman SamehEman Sameh // 14th January 2024

Have you ever pondered why your business isn’t escalating the way you planned? As an entrepreneur, you must have gone through all kinds of analysis and investigations to recognise the problem. However, leadership is one aspect that many business people pay no attention to. Did you know that 77% of businesses report a shortfall in […]

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How HR Statistics Can Optimise Recruitment and Retention

Miral NassarMiral Nassar // 11th February 2024

Human Resource (HR) management is undergoing significant transformations with the increasing integration of HR statistics-driven approaches in the workplace. The use of HR statistics has become a top priority for HR professionals and leaders, enabling them to make informed decisions and strategic plans. The reliance on HR statistics intensifies as organisations strive to enhance employee […]

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Global Air Travel Growth Continues: Latest Outlook Reveals Milestones

Panseih GharibPanseih Gharib // 25th November 2023

Air travel statistics continue to forge ahead in 2023 despite the pandemic’s lingering challenges. The latest outlook reveals significant milestones achieved and a promising trajectory for the year. The global air travel industry in 2023 demonstrates resilience and adaptation in the face of unprecedented challenges. With a steadfast focus on recovery, various regions have made […]

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Top Workflow Automation Statistics

Panseih GharibPanseih Gharib // 15th March 2024

In today’s dynamic business landscape, efficiency reigns supreme. Whether you navigate the helm of a burgeoning startup or steer a seasoned enterprise, streamlining processes and maximizing output are paramount. Enter workflow automation, a technological tide no leader can afford to ignore. The statistics speak volumes: 67% of companies have embraced automation, reaping tangible benefits like […]

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Critical Cybersecurity Statistics for Small Businesses

Noha BasionyNoha Basiony // 15th December 2023

In an era where digital transformation is not just a trend but a necessity, a single breach can have devastating consequences. Small businesses, in particular, are increasingly finding themselves on the front lines of cyber threats. As the backbone of the economy, these companies face unique challenges in safeguarding their digital assets against a rising […]

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Financial Management: A Comprehensive Toolkit for Building a Secure Future

ProfileTreeProfileTree // 25th March 2024

If you’re in business, you’ll know that surviving as a company while investing in growth are two goals you constantly need to balance. This is where financial management becomes essential. It is often the main factor determining the success of your business. At a basic level, if you spend more than you have coming in, […]

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Promotion: The Fourth P in The Marketing Mix

Miral NassarMiral Nassar // 22nd November 2023

The marketing mix, a foundational concept in the field, traditionally comprises four Ps: Product, Price, Place, and Promotion. We discussed the first, second, and third Ps in previous articles: Products: The First P in The Marketing Mix, Price: The Second P in The Marketing Mix, and Place: The Third P in The Marketing Mix. So, […]

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The 4 Types of Customer Segmentation: How to Correctly Apply Them and The Value They Add

ProfileTreeProfileTree // 21st February 2024

So what is customer segmentation? In the end, all businesses want to gain the trust of their customers. Having a clear picture of the different people who benefit from your products and services is a huge part of this.

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Building a Winning Investment Portfolio: A Data-Backed Framework for Long-Term Returns

ProfileTreeProfileTree // 8th March 2024

The perfect financial portfolio can comprise several different elements. Image credit: TheBalance

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Effective Sales Techniques: Close That Deal!

ProfileTreeProfileTree // 17th December 2023

Effective sales techniques focus on both quality and quantity. Image credit: 99Firms

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Customer Care Superheroes: How to Create a Service Team That Wows Customers

ProfileTreeProfileTree // 8th March 2024

For most people, quality of service is a crucial factor when making a purchase decision. Image credit: Business2Community

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Place: The Third P in The Marketing Mix

Miral NassarMiral Nassar // 30th November 2023

The marketing mix has four Ps: Product, Price, Place, and Promotion. These four Ps are a traditional framework that categorises the essential elements of a successful marketing strategy. In previous articles, we discussed the Product: The First P in The Marketing Mix and the Price: The Second P in the Marketing Mix. In this article, […]

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Non-Copyrighted Images: How to Use Them Without Getting into Bother

ProfileTreeProfileTree // 7th December 2023

Creating visual content is one of the biggest priorities for marketers today. Image credit: CloudFront

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How to Improve Perceived Quality: 10 Strategies to Increase Customer Satisfaction

ProfileTreeProfileTree // 20th March 2024

Customers often only consider the front line of your brand relations, but the back-end support still makes a difference indirectly. Image credit: Promoter.io

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Business Objectives and Goals: Setting you up for success – 10 Examples for Small Business

ProfileTreeProfileTree // 20th February 2024

Future planning and strategic organisation are critical for business success, and a lack of them is often the leading cause of business failure. Business objectives and goals give your business something to work towards, a vision to achieve and ultimately – a purpose for going to work every day! Whether it’s a new project, a marketing […]

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Brand Perception 101: Essential Guide to Image and Reputation

ProfileTreeProfileTree // 17th December 2023

There are many facets to brand perception. Image credit: Oberlo

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Women Entrepreneurship: Resources, Funding Tips, and Inspiring Role Models

ProfileTreeProfileTree // 15th December 2023

Only a third of businesses around the world are owned by women. Image credit: WorldBank

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What Is Quality Assurance? Thriving for Perfection

ProfileTreeProfileTree // 16th November 2023

With the industrial revolution and mass production came many new responsibilities. The process of manufacturing became much more complicated. The number of products increased insanely compared to older methods. These changes brought about the new concept of ‘quality assurance’. Then, we witnessed the digital age, which brought about new levels of complexity and higher-than-ever efficiency. […]

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Master Fair Use Copyright Laws for Content Creation

ProfileTreeProfileTree // 26th March 2024

Copyright law is a complex field. Most business owners don’t fully understand it. In particular, fair use copyright confuses many businesses. After all, how can there be situations where it’s okay to use someone else’s copyrighted works? Fair use copyright ensures the protection of intellectual property, but it allows other creative people to build on […]

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Our 5 Essential Brand Attributes List

ProfileTreeProfileTree // 16th November 2023

Brand consistency is directly tied to revenue. Image credit: LocalIQ

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What Is Quality Control?101 Comprehensive Guide to Ensuring Product Excellence

ProfileTreeProfileTree // 16th November 2023

There are key differences between the aims of QA and QC. Image credit: Jelvix.com

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What is Copyright Statute of Limitations? Basic Guide

ProfileTreeProfileTree // 17th November 2023

These days, most copyright claims online are in the music industry. Image credit: StatCDN

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Definition of Entrepreneurship – Top 5 Characteristics That Set True Entrepreneurs Apart

ProfileTreeProfileTree // 8th March 2024

Entrepreneurship often means taking care of all business functions by yourself. Image credit: AmazonAWS

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How to Copyright Assets: 5-Step Guide

ProfileTreeProfileTree // 14th November 2023

There are several stages to registering a copyright. Image credit: BiatConsultant

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Entrepreneurship Ideas: Top 10 Most Profitable Small Businesses You Can Launch

ProfileTreeProfileTree // 26th March 2024

Entrepreneurship requires a wide skillset. Image credit: HBR.org

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The New Product Development Process in 7 Steps

ProfileTreeProfileTree // 20th February 2024

Preparing for a new product to hit the market should be anything but random. There is a defined new product development process that is translated into clear steps – but for budding entrepreneurs, this may be a baffling mission.

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What is Content Analysis? Quantifying the Qualitative

ProfileTreeProfileTree // 14th November 2023

Content analysis is a research tool used to find certain words, themes, or concepts within some given qualitative data. Image credit: Flickr @SHYCityNXR

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Project Management Methodologies: The Ultimate Guide – 7 Essential Methodologies

ProfileTreeProfileTree // 25th March 2024

Project management ensures you deliver products and services for your customers correctly and on time. To guarantee this, using the right project management methodologies is important. Selecting the right project management methodology is crucial for executing and delivering projects effectively. This guide provides an in-depth look at the most widely used project management frameworks – […]

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Top 10 Project Manager Interview Questions and Answers

ProfileTreeProfileTree // 14th November 2023

With a huge scope for growth, there has never been a better time to get into project management. Image credit: Raconteur.net

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App Development Software: Creating an App for Your Business

ProfileTreeProfileTree // 13th March 2024

Wherever there is an audience, there is a marketing possibility. These days, people spend more time than ever on their phones. To help take advantage of this, there are countless options for app development software. There are several reasons to use these rather than going down the road of fully custom-app development. Business owners are […]

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Promotional Products: The Strategic Guide to Driving Brand Awareness Through Targeted Giveaways

ProfileTreeProfileTree // 25th March 2024

Even seeing your logo once can have a huge impact on consumers. Image credit: 4imprint.

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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.