Market forces are a significant force in shaping strategies. Examples of market forces include:Existing competitionThe entry of new competitorsRivalry among competitorsThe threat of substitutesBargaining power of buyers and suppliersCurrent economic...

The strategic environmental analysis helps understand how the organization can be affected by internal and external factors, which are then used to develop strategies to mitigate or eliminate their impact on the company's operations.PEST AnalysisThe...

The strategic environmental analysis enables companies to understand their business environment better. It is an ongoing process for identifying all the external and internal factors that may influence organizational performance. It helps organizatio...

To effectively plan for the future, businesses need to identify their core competencies and develop strategies that leverage these strengths to achieve growth. In this post, I will discuss the seven main reasons why strategic planning fails and how t...

The Strategic Plan is a document that describes the goals of an organization. It also provides guidance for planning activities to achieve those goals. The plan can be used by management as well as employees. Tactical plans are usually short-term in...

Strategic PlanThe Strategic Plan is a document that provides the vision and direction for our organization. It articulates the values, goals, objectives, strategies, and policies of the organization. The Strategic Plan is intended to be used as a gui...

These five Ps describe what makes up a successful strategy. These elements are interrelated and interdependent. They interact with each other to create the context within which strategies are implemented.1. Strategy as a Plan: The first element is a...

What is Strategy?The term strategy has been used in business for over 100 years. It is a way of thinking about the future and planning how to achieve it. A good strategy will help you make decisions based on your long-term goals and objectives. The s...

What is a Team?Team: A group of people working together toward a common goal. Each member contributes unique skills, knowledge, talents, abilities and experiences that help the team achieve its objective. The members share responsibility for the achi...

Theory of Constraints (TOC) views every business as having limits imposed upon them by things like time, resources, market conditions, etc., which constrain their ability to achieve more than they already have achieved. TOC uses a focused process to...