Understanding Business Strategy in the 21st Century
ProfileTree // 18th December 2023
Business priorities have changed greatly in the last century. Image credit: SeekMomentum
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Business Strategy - Page 4
The latest business strategy articles, advice and insights from the ProfileTree team.
9 Reasons Why Organisations Use Branding
ProfileTree // 15th December 2023
Brand recognition is essential for business success in today’s crowded marketplace. Effective branding sets companies apart, builds brand loyalty, and ultimately boosts revenue. In fact, brands with high name recognition can generate up to 30% more revenue than rival companies. However, achieving impactful branding is about much more than just surface-level name recognition or aesthetics. […]
How to Build Brand Loyalty: Take Your Business to the Next Level
ProfileTree // 15th February 2024
Different brands offer multiple products, until there is an entire network dedicated to one brand
Business Email Compromise Statistics
Maha Yassin // 14th January 2024
Are you concerned about escalating business email compromise (BEC) scams? You’re certainly not alone in your troubles. The distressing trend is growing, with worrisome figures showing a startling 81% increase in these underhanded attacks throughout 2022. This issue has indeed landed squarely on all our radars. Within this blog post, we’ll be unpacking key facts […]
How to Search Using Google: Advanced Guide 10 Tricks for Power Users
ProfileTree // 11th December 2023
How to Search Using Google? It can be difficult to find the result you need due to the vast volume of pages Google can access, that’s why advanced techniques can help cut through to the information you need. Let’s explore Google search… Do you ever feel overwhelmed by the sheer amount of information available online? […]
What is Brand Development? A Complete Guide to Building a Memorable Brand
ProfileTree // 11th January 2024
Most companies have formal brand guidelines, but few actually use them. Image credit: Venngage
Strategic Marketing 101: A Complete Guide to Long-Term Growth Planning
ProfileTree // 4th February 2024
A large number of businesses have no strategic marketing planning process in place. Image credit: Media Valet
Business Podcast Growth With Statistics
Miral Nassar // 4th January 2024
Securing trustworthy business podcast statistics can often be a tricky old game. In fact, would you believe that over 82 million people across the pond in the U.S. are tuning into podcasts? This article will comprehensively explore current business podcast statistics to support your market research. More than half of Americans have listened to a podcast in 2022, with significant […]
Insightful Global Business Recycling Statistics: Facts and Figures
Panseih Gharib // 20th February 2024
Recycling can often be a puzzling subject for many businesses. Are we doing our bit? Do the recycling statistics indicate that we’re making a significant impact? With data showing the recycling rate (including composting) in America slipped to 32.1% in 2018 from 34.7% in 2015, there’s plenty of space for us to step up our […]
Business Strategy Definition: Essential Meaning for Companies Explained
ProfileTree // 4th February 2024
Why is it important to understand the definition of business strategy? Put simply, a business strategy is the foundation of any company or brand. Building a successful business strategy is, however, far from easy. There many different models and theories to consider. In this guide, we will explore what look at business strategies and models […]
Using Business Intelligence Tools: Making the Right Choice
ProfileTree // 7th December 2023
Business intelligence tools help you to improve your decision making. Image credit: Miro.Medium.com
Types of Digital Marketing: Your Essential Guide to Understanding the Digital Marketing
ProfileTree // 15th December 2023
Many businesses don’t have a coherent digital marketing strategy. Image credit: Media Valet
Portfolio Analysis: An Essential Overview
ProfileTree // 12th December 2023
The importance of business portfolio analysis is the categorisation of the essential services provided according to their market competitiveness potential and the rate at which sales are incremented and developed.
It is critical to help the growth of a business’s portfolio, which is the sum of all the products and services they provide to the market. When you want to use a certain business strategy, you have to transform your target to a business oriented strategy including budget calculations.
Every business entity is centred around its resources to generate its main source of revenue, so a specified business plan has to be put in motion to meet the needs of the association’s members and targets, this plan is called portfolio analysis.
The portfolio analysis meaning can get complex, however, essentially portfolio analysis helps in the connection of the process of devising a strategy and its execution, aiding the process of budget allocation. Portfolio analysis is the product of Dr. Ian MacMillan of the University of Pennsylvania’s Wharton School.
Transformational Leadership: The Complete Guide
ProfileTree // 5th December 2023
There are many different kinds of leadership. Image credit: Pixabay
What Is The Marketing Mix? 7 Key Elements to Improve
ProfileTree // 5th December 2023
There are seven key elements to the marketing mix. Image credit: SkillsYouNeed
Types of Business Strategies: A Comprehensive Guide to Developing Strategic Excellence
ProfileTree // 4th February 2024
Almost half of businesses don’t have a clear online strategy. Image credit: MediaValet
Report Summary: The Impact of Digital Marketing Training on Northern Ireland SMEs Ability To Innovate
Sara Lynch // 10th January 2024
Natalia Thomas, MSc Digital Marketing & Analytics at Dublin Business School, recently concluded her dissertation; The Impact of Digital Marketing Training on Northern Ireland SMEs Ability To Innovate.
How to Build an Empire: The Building Blocks of a Successful Business
ProfileTree // 10th January 2024
Is your goal to build an empire around your business? That dream, held by many, doesn’t happen overnight. In the days of online entrepreneurship, the question of how to build an empire is more common than ever. So, what does it take to achieve success? And where should you start? Building a business empire is […]
What Is Corporate Strategy? 3 Steps to Success
ProfileTree // 4th February 2024
Many companies lack long term planning. Image credit: s24352.pcdn.co
What Is A Value Proposition? Lessons To Learn From For Marketing Success
ProfileTree // 15th December 2023
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!
Top Latest Small Business Loan Statistics
Eman Sameh // 8th 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 […]
Comprehensive Business Insurance Statistics and Insights
Panseih 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 […]
Maslow’s Hierarchy of Needs: The Key to Understanding Your Target Customers?
ProfileTree // 26th November 2023
Mercedes consciously reference the fact that their products provide something well beyond what is necessary of a car. Image credit: Mercedes
Unlocking the Power of Business Leadership Statistics
Eman 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 […]
How HR Statistics Can Optimise Recruitment and Retention
Miral 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 […]
Global Air Travel Growth Continues: Latest Outlook Reveals Milestones
Panseih 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 […]
Top Workflow Automation Statistics
Panseih Gharib // 29th January 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 […]
Critical Cybersecurity Statistics for Small Businesses
Noha 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 […]
Financial Management: A Comprehensive Toolkit for Building a Secure Future
ProfileTree // 21st February 2024
There are many different elements to financial management. Image credit: MtpPLC
Promotion: The Fourth P in The Marketing Mix
Miral 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, […]
The 4 Types of Customer Segmentation: How to Correctly Apply Them and The Value They Add
ProfileTree // 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.
Building a Winning Investment Portfolio: A Data-Backed Framework for Long-Term Returns
ProfileTree // 8th March 2024
The perfect financial portfolio can comprise several different elements. Image credit: TheBalance
Effective Sales Techniques: Close That Deal!
ProfileTree // 17th December 2023
Effective sales techniques focus on both quality and quantity. Image credit: 99Firms
Customer Care Superheroes: How to Create a Service Team That Wows Customers
ProfileTree // 8th March 2024
For most people, quality of service is a crucial factor when making a purchase decision. Image credit: Business2Community
Place: The Third P in The Marketing Mix
Miral 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, […]
Non-Copyrighted Images: How to Use Them Without Getting into Bother
ProfileTree // 7th December 2023
Creating visual content is one of the biggest priorities for marketers today. Image credit: CloudFront
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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.