What Is Corporate Strategy? 3 Steps to Success
Many companies lack long term planning. Image credit: s24352.pcdn.co
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The latest business strategy articles, advice and insights from the ProfileTree team.
Many companies lack long term planning. Image credit: s24352.pcdn.co
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!
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 […]
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 […]
Mercedes consciously reference the fact that their products provide something well beyond what is necessary of a car. Image credit: Mercedes
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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, […]
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.
The perfect financial portfolio can comprise several different elements. Image credit: TheBalance
Effective sales techniques focus on both quality and quantity. Image credit: 99Firms
For most people, quality of service is a crucial factor when making a purchase decision. Image credit: Business2Community
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, […]
Creating visual content is one of the biggest priorities for marketers today. Image credit: CloudFront
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
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 […]
There are many facets to brand perception. Image credit: Oberlo
Only a third of businesses around the world are owned by women. Image credit: WorldBank
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. […]
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 […]
Brand consistency is directly tied to revenue. Image credit: LocalIQ
There are key differences between the aims of QA and QC. Image credit: Jelvix.com
These days, most copyright claims online are in the music industry. Image credit: StatCDN
Entrepreneurship often means taking care of all business functions by yourself. Image credit: AmazonAWS
There are several stages to registering a copyright. Image credit: BiatConsultant
Entrepreneurship requires a wide skillset. Image credit: HBR.org
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.
Content analysis is a research tool used to find certain words, themes, or concepts within some given qualitative data. Image credit: Flickr @SHYCityNXR
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 – […]
With a huge scope for growth, there has never been a better time to get into project management. Image credit: Raconteur.net
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 […]
Even seeing your logo once can have a huge impact on consumers. Image credit: 4imprint.
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:
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.