Building a competitive strategy is about how companies outperform their competitors in generating profits by satisfying the same consumer needs and wants. There are many businesses around us. Some target the same market. They compete
Competitive Strategy
Synergy: Meaning, Importance, Types
Synergy means joining or cooperation will create more value than separation. Two organizations that work together produce more significant value than their respective values combined. Say, each company's value is 2, then their synergy can create
Mintzberg’s 5Ps of Strategy and Its Components
Formulating a strategy is indeed tricky. Some people think the strategy is about companies and competitors. In a sense, we focus on what competitors are doing and how our strategy does it better. Mintzberg offers a perspective to sharpen the
Strategy: Why It Matters, How to Build It
Wikipedia.org defines strategy as a high-level plan for achieving goals under uncertainty. It includes a set of commitments and integrated and coordinated actions. Before proceeding to the next paragraph, please note, the focus of our article is
Competitive Advantage: Meaning, Importance, How to Measure
Competitive advantage is when a company does business better than their competitors. Not only having excellent operating performance, but these advantages are also reflected in their finances. The company earns higher than the average profitability