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Business Strategy - Page 5

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

Navigating the Data: A Comprehensive Overview of Global Business Statistics

Noha BasionyNoha Basiony // 11th January 2024

In an ever-more interconnected world, the global business is a dynamic tableau, vibrant with data and statistics that tell the tale of economies intertwining, markets expanding, and businesses reaching across borders with unprecedented agility. The pulse of international commerce can be measured by meticulously examining global business statistics, offering a lens to peer into the […]

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Project Management Training Benefits: What It Teaches and 3 Professional Courses To Take

Sara LynchSara Lynch // 4th February 2024

In this article, we’ll explore the benefits of project management training, what to expect from it and where you can find project management courses. It’s a major transferable skill and a highly sought-after one at that.

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Understanding Business Revenue Statistics

Eman SamehEman Sameh // 4th February 2024

Negotiating the intricate domain of business revenue statistics can often feel akin to navigating a convoluted labyrinth, particularly when it pertains to small businesses. However, were you aware that small businesses add a whopping 44% to U.S. economic activity? With diligent research and careful consideration, we have emerged equipped with enlightening insights into these crucial […]

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Insightful Business Spending Statistics

Eman SamehEman Sameh // 11th January 2024

Understanding the allocation of business capital can be as daunting as ascending Ben Nevis. The process is characterised by the meticulous examination of numerous receipts and detailed Excel spreadsheets and the frequent confusion over inconsistencies in the business spending statistics. This blog post, armed with thorough research and enlightening details like marketing budgets comprising 11.2%, […]

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Top 10 Business Networking Sites to Grow Your Connections

ProfileTreeProfileTree // 21st January 2024

The more you network, the more likely you will make a sale. Image credit: MarketingExpertus

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The Essential Business Statistics Role and How It is Used

Panseih GharibPanseih Gharib // 13th February 2024

Business statistics role is crucial in the world of business. It provides valuable insights and helps decision-makers make informed and timely choices based on data analysis. Currently, Statistics is the compass by which modern businesses navigate the sea of market dynamics, customer preferences, and competitive challenges. This article ventures into the heart of business statistics, […]

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The Rise of Home-Based Businesses with Statistics for 2023

Miranne KhaledMiranne Khaled // 6th December 2023

A home-based business, also known as an HBB, offers a thrilling opportunity for entrepreneurs to flourish within the comforts of their own home office. What sets these businesses apart from traditional ones is their intimate size, typically consisting of only a few employees, often immediate family members.  This brings a unique quality to these ventures, […]

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Your Guide To Finding The Best Web Design Agency In The UK

Noha BasionyNoha Basiony // 14th November 2023

Picking the most suitable web design agency is a critical decision which can have far-reaching implications for your business’s online presence and success. In a market saturated with talent, the best web design agency for your business is one that not only promises innovation but also delivers a user-centric design, robust functionality, and strategic thinking […]

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Hispanic-Owned Businesses: Benefits, Challenges, and Statistics

Miral NassarMiral Nassar // 21st December 2023

Hispanic-owned businesses are enterprises owned and operated by individuals or groups of Hispanic or Latino descent. These businesses are typically located in countries with a significant Hispanic population, such as the United States, Spain, Mexico, and many other countries in Central and South America. Their owners may have diverse backgrounds and may come from various […]

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Examples of Misleading Statistics in the Media 

Miral NassarMiral Nassar // 14th February 2024

In today’s data-driven world, statistics are crucial in shaping public opinion, policy decisions, and individual beliefs. Misleading statistics, resulting from misinterpretation, manipulation, or lack of context, can distort the truth and lead to misinformation. The media, being a primary source of information for many, holds the responsibility of presenting these statistics accurately and transparently. However, […]

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Workplace Conflicts: Types, Impact, and Management Strategies

Noha BasionyNoha Basiony // 20th February 2024

Like every other human community, organisations are diversified. Employees, no matter how many things they share, still have distinct personalities, mindsets, skills, visions, and behaviours. Such diversity is excellent for business success as it provides opportunities for growth and development. Yet, when employees fail to find common ground, despite their genuine desire to achieve the […]

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Jewellery Industry Statistics 2023: A Comprehensive Overview

Miranne KhaledMiranne Khaled // 21st January 2024

The jewellery industry is a colossal and far-reaching global sector with a valuation that stretches into the billions of dollars. It encompasses a diverse array of activities, spanning from the creative process of designing to the intricate stages of manufacturing, distribution, and, ultimately, the retail sale of jewellery.  When we mention “jewellery,” it’s important to […]

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3 Strategic Cross-Cultural Management Concepts to Consider: McDonald’s Case Study 

Panseih GharibPanseih Gharib // 17th December 2023

Since the business world has turned global, strategists’ efforts do not stop at the company level. Several global events in different parts of the world affect international business. While it is challenging to cope with interchanging circumstances, some cross-cultural management concepts might help you adapt swiftly.  Below, we will discuss those concepts and try to […]

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AI Career Breakthrough: 5 Must-Haves for Success

Omnia EssawyOmnia Essawy // 23rd December 2023

As Artificial Intelligence (AI) continues to transform industries, the demand for AI-related jobs has skyrocketed. But making a successful career in this fast-paced and highly competitive industry requires a strategic approach and a unique set of skills.  In this article, we will delve into five key elements necessary for building a successful career in the […]

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How an Internet Marketing Consultant Can Help Grow Your Business

ProfileTreeProfileTree // 25th October 2023

If your marketing team is not well-versed in online activity, you may benefit from hiring an internet marketing consultant to handle the online presence of your business. An internet marketing consultant handles companies’ web presence and online advertising to increase traffic, gain followers and promote conversions. They have specific goals and objectives to attain and […]

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Website Flipping 101: How to Flip Websites for Profit

ProfileTreeProfileTree // 26th January 2024

Learn about Website Flipping: Believe it or not, websites are a form of real estate. Just as there are many opportunities to make millions of dollars by buying and selling homes, there is huge potential for profit from website flipping. In fact, it is far easier to break into the business of buying and selling […]

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Business Research 101: The Ultimate Guide to Success

Miranne KhaledMiranne Khaled // 24th October 2023

Business research is an indispensable and systematic process that empowers decision-makers to gather and analyse crucial data, guiding them towards making informed choices that shape the trajectory of a business. It involves meticulously studying and investigating specific topics within the realm of business to obtain accurate and impartial information.  Every business must apply a systematic […]

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E-commerce Business Statistics You Need to Know NOW

Nouran AshrafNouran Ashraf // 14th January 2024

Feeling a bit swamped by the sheer surge of e-commerce and struggling to stay in step with its trends? It’s completely normal; it can be rather daunting, especially when faced with statistics revealing that global e-commerce sales exceeded an incredible $5.7 trillion in 2022! This blog is designed to slice through this knotty confusion and […]

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How to Develop a Brand Strategy – The Full Guide

ProfileTreeProfileTree // 20th February 2024

A brand strategy is an engine behind any excelling business. The process of how to develop a brand strategy can be quite time-consuming and exhausting. The merits of executing a good brand plan are countless. To start that journey off, this guide focuses on everything a business owner needs to develop an exciting brand plan […]

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The Role of Statistics in Business Decision Making

Miral NassarMiral Nassar // 4th January 2024

The study of collecting data collection, analysing it, interpretation, and presentation is known as statistics. Its main objective is to reveal patterns, trends, and relationships in data. Utilising the power of statistics, people and organisations may turn unstructured data into useful knowledge that improves our understanding of making wise decisions. Statistics provide a systematic framework for […]

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Business Failures and Recoveries Statistics in the UK

Panseih GharibPanseih Gharib // 16th October 2023

It is crucial to investigate failures and successes when studying the business market. Looking at the failure statistics and numbers of different franchises and startups might help you answer the most pressing questions: What are the chances of success my business has? What are the main reasons for business failure in the current market? How […]

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Unveiling the Power of Family-Owned Businesses through Statistics

Miral NassarMiral Nassar // 11th January 2024

Every successful family-owned business begins with a future vision and a strategy. Families that run such companies have overcome obstacles brought on by a constantly changing market; they are dedicated, making wise choices, and working hard.  Having a successful family-owned business is complex because you should consider many aspects to improve the likelihood of success. To […]

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Business Website Building and Development Steps Using Shopify

Miral NassarMiral Nassar // 16th October 2023

Wix and Shopify are two examples of website builders you can use if you want to design your business website but need more technical skills to do so yourself. Shopify is one of your possibilities, and it’s best if you already have a business website. Because of this, Shopify is probably not the ideal option for […]

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New Business: Benefits and Challenges

Miral NassarMiral Nassar // 27th November 2023

Are you considering beginning a new business? Or are you interested in the essential statistics and information behind it? The economy of each country depends on the creation of new projects. They stimulate economic growth, foster innovation, and create jobs. That’s why supporting new businesses and entrepreneurs is more crucial than ever in today’s quickly […]

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Eco-Champions: 7 Sustainable Business Examples Enabling a Greener and Brighter Future

Ranel VialaRanel Viala // 10th October 2023

What are the sustainable business examples? Sustainable business examples are essential in today’s ever-changing world, as sustainability has become a central focus for businesses. They aim not only to stay relevant but also to take an active role in preserving our environment. As consumers and stakeholders increasingly demand responsible practices, these sustainable businesses stand as […]

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Unveiling Astonishing Insights on Small Businesses for 2023

Miranne KhaledMiranne Khaled // 17th November 2023

In today’s economy, businesses play a pivotal role in breaking or making great deals. They come in various sizes and are categorised based on numerous factors. While larger companies often grab the spotlight, it is essential to recognise the significant role that small businesses play in the economy, too.  In this article, we’re casting a […]

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SEO or Google Ads: Which is Better for Your Business?

Rahma AliRahma Ali // 11th October 2023

SEO or Google ads? What do you need to consider first? You understand that search engine optimisation, or SEO, makes your website get a better rank. Meanwhile, Google Ads will place your URL at the top of relevant search queries. It seems slightly costly, but it’s worth it, as it delivers the instant desired outcome. […]

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The 8 Types Of Business Crimes With Statistics & Examples

Miral NassarMiral Nassar // 17th November 2023

Pump-and-dump scams are only one type of business crime or white-collar crime; there are many others. These business crimes frequently entail dishonesty, fraud, or misrepresentation. Ponzi schemes, embezzlement, and acts that knowingly break environmental rules and regulations are examples of high-profile crimes. Types of Business Crimes The first three categories of business crimes will be […]

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Your 101 Guide to Data Management Strategy—With Important Statistics

Miranne KhaledMiranne Khaled // 8th December 2023

In today’s digital era, data undeniably plays a vital role in numerous aspects of our daily lives. Whether it’s personal information, financial data, client details, or even business plans, data encompasses a wide range of essential information. This has given rise to the concept of data management, a comprehensive process that involves the ingestion, storage, […]

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Plugins for Excel : Supercharge Your Data Analysis with 5 Top Ranked Tools

Ranel VialaRanel Viala // 26th October 2023

Plugins for Excel Explained In the world of data analysis and spreadsheet management, Plugins for Excel (also known as “add-ins”) have elevated Microsoft to titan status. Its versatility and functions have made this particular tool indispensable for professionals to use across various industries. However, to truly unlock the potential of Excel and make your data […]

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Business Innovation Statistics: Examples and Insights

Panseih GharibPanseih Gharib // 21st January 2024

As a business owner living in the 21st century, hiding in a comfort zone is no longer an option. Challenges and new technologies will always be a threat if not realised early. Using new technologies and innovations in your line of business is essential to keep up with the fast pace of business development. As […]

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Saudi Arabia League Football: If You Build It They Will Come – A Smart and Expensive Business Move

Sara LynchSara Lynch // 18th September 2023

If you build it, they will come. That’s the ethos behind the Saudi Arabia League Football (aka the Saudi Pro League). They have essentially turned an otherwise unnoticed league into the talk of global discussions and how exactly? By tempting the best talent in European football with astronomical wages that dwarf their European club salary.

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Major Business Trends in the Last Decade

Panseih GharibPanseih Gharib // 14th September 2023

The world of business has never been wider. With interconnected cultures, the chance to enter the international business market is easier but trickier. One of the most essential factors to bear in mind is the global interchangeable tastes, needs, and challenges. It is not about fulfilling a need; it is rather the creativity and risk […]

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The Ultimate Guide to CRM Systems: Everything You Need to Know in One Simple Read

Omnia EssawyOmnia Essawy // 26th January 2024

CRM systems play a pivotal role in driving the success of businesses today. In this article, we will delve into the intricacies of CRM systems, exploring their functionality, benefits, and the diverse range of options available in the market. With an emphasis on implementation strategies, we aim to equip you with the knowledge needed to […]

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AI For Presentations 101: How To Create Amazing Designs With Storydoc

Claire MulliganClaire Mulligan // 28th August 2023

In today’s world, AI for presentations has become incredibly beneficial for business owners, marketers, students, teachers, and many more. Artificial Intelligence (AI) is transforming the way that businesses operate and communicate with their customers, as repetitive tasks can be automated and costs can be reduced through the assistance of AI technology.

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A Guide to Establishing an Amazing Company Culture

Noha BasionyNoha Basiony // 2nd August 2023

As defined by LinkedIn itself, the giant professional employment platform, company culture is the sum of values, behaviours and beliefs that determine in what way the company’s primary operation is done and how the company generally treats its employees as well as customers. Company culture is a tangible thing that shapes the identity of the […]

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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.