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strategy (Steps of setting out a company’s vision (2 Specify geographic…
strategy
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Adaptive advantage
Adaptive advantage is a new strategy. Organisations with adaptive advantage recognise unpredictability of today's environment and the limits of deductive analysis. Well-run businesses respond effectively to changes.
five pieces of advice
A. Process relevant data. B. See clearly wider context for their business. C. Be alive to social change and shifting customer preferences. D. Experiment effectively. E. Draw on the talents of the best people.
Boston Matrix
This is an original way of classifying products was invented by a group of Boston marketers headed by Bruce Henderson in the late 60s of the last century.
Difficult children - low market share at high rates of market development. They consume a lot of resources and give little. If you wish to increase the percentage of market share, significant financial injections are required.
Dairy cows - these products are characterized by a high market share and low rates of market development. With a small investment, they bring the maximum profit. Dairy cows should be left in the briefcase until the situation changes.
Stars are products with a high market share in fast-growing markets. Since they bring the greatest profit, they should be protected and, of course, create new stars.
Dogs - low proportion and low rates. These are unsuccessful investments that only absorb the resources of the company. It is better to get rid of them or at least minimize their presence in the portfolio.
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What is the strategy?
Strategy is an outline of how a business can achieve its goals. The goals are the objective; the strategy sets out the route to that objective. In the early stages, business objectives are usually fairly simple: to survive and to achieve growth targets. Usually, strategies are simple, and are often not even committed to paper; it is enough that everyone in the company understands where it is going and how it will get there. But as the business grows, so does the need for co-ordination.
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