Understanding Business Strategy in the 21st Century
Business priorities have changed greatly in the last century. Image credit: SeekMomentum
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The latest business strategy articles, advice and insights from the ProfileTree team.
Business priorities have changed greatly in the last century. Image credit: SeekMomentum
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. […]
Different brands offer multiple products, until there is an entire network dedicated to one brand
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? 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? […]
Most companies have formal brand guidelines, but few actually use them. Image credit: Venngage
A large number of businesses have no strategic marketing planning process in place. Image credit: Media Valet
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 […]
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 […]
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 […]
Business intelligence tools help you to improve your decision making. Image credit: Miro.Medium.com
Many businesses don’t have a coherent digital marketing strategy. Image credit: Media Valet
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.
There are many different kinds of leadership. Image credit: Pixabay
There are seven key elements to the marketing mix. Image credit: SkillsYouNeed
Almost half of businesses don’t have a clear online strategy. Image credit: MediaValet
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.
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 […]
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 […]
There are many different elements to financial management. Image credit: MtpPLC
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
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.