Showing 1117–1128 of 1429 resultsSorted by latest
This Skill Bit shows that long-term value creation focuses on sustainable business practices. It involves adaptability, stakeholder engagement, innovation, ethical governance, financial health, and risk management. Benefits include competitive advantage, reputation, risk mitigation, and legacy building. Duration approx. 6 Min. Tier: advanced
This Skill Bit shows, that the BCG Matrix categorizes business units based on market share and growth (Stars, Cash Cows, Question Marks, Dogs). It helps allocate resources (invest in Stars, harvest cash from Cows, decide on Question Marks, and divest Dogs). The matrix is a useful strategic planning tool, but it has limitations and should…
This Skill Bit shows that bargaining power influences negotiation outcomes. Companies can strengthen their position by increasing dependence on them and reducing alternatives for the other party. Information is key. Weaken the other side by increasing your options and reducing their dependence. Use ethical tactics and consider long-term goals for sustainable growth. Duration approx. 6…
This Skill Bit shows that bargaining power is the ability to influence negotiation terms in your favor. Factors like alternatives, dependency, information, size, and regulations affect bargaining power. Businesses use it to get better deals with suppliers or customers, while unions use it for better wages. Understanding bargaining power is key for strategic decision-making. Duration…
This Skill Bit shows that Porter’s Five Forces is a framework to analyze industry competition. It considers five forces: competitive rivalry, supplier power, buyer power, threat of new entrants, and threat of substitutes. Analyzing these forces helps understand industry attractiveness, inform strategic decisions, and predict industry shifts. Duration approx. 5 Min. Tier: advanced
This Skill Bit shows that the Resource-Based View (RBV) emphasizes a firm’s internal resources (tangible/intangible) as key to competitive advantage. Valuable, rare, inimitable, and non-substitutable resources are ideal. The VRIO framework assesses resources based on value, rarity, imitability, and organization. Building a competitive edge involves acquiring key resources, enhancing capabilities, protecting resources, and developing dynamic…
This Skill Bit shows that strategic thinking is about asking creative questions and envisioning the future. Strategic planning takes those ideas and turns them into actionable steps with clear goals, resource allocation, and documented strategies. They work together for a well-rounded approach to strategic management. Duration approx. 6 Min. Tier: advanced
This Skill Bit shows that performance monitoring tracks progress towards strategic goals. It involves data collection, analysis, reporting, and review meetings. Regular monitoring ensures alignment, adaptability, and continuous improvement. Feedback from monitoring should be used to adjust strategies and foster a culture of learning within the organization. Duration approx. 5 Min. Tier: advanced
This Skill Bit shows that KPIs are quantifiable metrics that measure progress towards strategic goals. Effective KPIs are relevant, measurable, timely, and actionable. Common KPI types include financial metrics, customer metrics, market performance metrics, and operational efficiency metrics. Monitoring KPIs allows for adjustments, proactive management, resource focus, and overall strategic success. Duration approx. 6 Min….
This Skill Bit shows that strategy evaluation involves monitoring progress and adapting strategies using feedback and performance data. Sustainable strategies consider environmental and social responsibility alongside business goals. This includes ethical practices, environmental sustainability, and creating long-term value for future generations. Duration approx. 4 Min. Tier: advanced
This Skill Bit shows that strategy formulation involves choosing how to compete. Business-level strategies focus on cost leadership, differentiation, or focus within a market. Corporate-level strategies address managing multiple businesses and consider diversification, vertical integration, acquisitions, alliances, and disruptive innovation. The chosen strategy should leverage your strengths and position you for success in the competitive…
This Skill Bit talks about strategic planning, that translates vision into action. Set clear SMART objectives, develop an action plan with resource allocation, follow a structured process, and document the strategy. The resulting plan guides the organization, facilitates communication, and establishes performance metrics. Regularly review and adapt the plan to stay on track for success….
