Tag: Strategy

Business strategy Business strategy business studies and business english #business #bankruptcy

#business strategy

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Strategy theory

Business strategy

A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-term business planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer).

A business strategy is concerned with major resource issues e.g. raising the finance to build a new factory or plant. Strategies are also concerned with deciding on what products to allocate major resources to – for example when Coca-Cola launched Pooh Roo Juice in this country.

Strategies are concerned with the scope of a business’ activities i.e. what and where they produce. For example, BIC’s scope is focused on three main product areas – lighters, pens, and razors, and they have developed superfactories in key geographical locations to produce these items.

Two main categories of strategies can be identified:

1. Generic (general) strategies, and

2. Competitive strategies.

The main types of generic strategies that organisations can pursue are:

1. Growth i.e. the expansion of the company to purchase new assets, including new businesses, and to develop new products. The Inland Revenue has expanded from being just a tax collector, to other functions such as collecting student loan repayments and paying tax credits.

2. Internationalisation/globalisation i.e. moving operations into more and more countries. For example companies like Gillette, Coca-Cola, Kellogg’s, and Cadbury Schweppes are major multinationals with operations across the globe.

3. Retrenchment involves cutting back to focus on your best lines. The Americans refer to this as ‘sticking to the knitting’ – i.e. concentrating on what you do best.

Competitive advantage

Competitive strategies are also important. Competitive strategies are concerned with doing things better than rivals. To be competitive a firm shouldn’t just copy the ideas of rivals. They should seek to out compete rivals. There are two main ways of being competitive.

1. By selling goods at lower prices than rivals. This is possible when a firm is the market leader and benefits from economies of scale.

2. By differentiating your product from those of rivals – which enables you to charge a higher price if desired.

The airline industry is divided into two main segments. At one end of the market are the premium price category firms such as British Airways that concentrate on differentiation. They offer better service to passengers, more legroom, in flight entertainment, and more individualised attention. At the other end of the market the emphasis is on being the low cost producer and is exemplified by ‘no frills’ airlines such as Ryanair. Ryanair focuses on short haul destinations and keeping its planes in the air as frequently as possible in a 24 hour period.

Economies of scale – The advantages that large firms have from producing large volumes of output enabling them to spread their costs over more units of output.

Differentiation – Making a product different from rival offerings e.g. through packaging and labelling, customer care, additional extra features, etc.





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Business Strategy and the Environment – Wiley Online Library #free #business #listing

#business strategy

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Business Strategy and the Environment

News and Announcements

High Impact Ranking for BSE

We are delighted to announce the latest high impact factor ranking for BSE in the top 10 Environmental Studies Journals
Impact Factor 2014: 2.542
ISI Journal Citation Reports Ranking: 2012: 17/100 (Environmental Studies) 29/185 (Management) 22/115 (Business)

Managing Industrial Symbiosis (IS) Networks
Guest Editors: Abhishek Agarwal and Peter Strachan
Aberdeen Business School, Robert Gordon University, Aberdeen, UK

Popular Business Strategy and the Environment Articles

Most cited Business Strategy and the Environment articles published in 2014 2015:

Click below to read the most accessed Business Strategy and the Environment articles from in 2015:

Changing Behaviour: Successful Environmental Programmes in the Workplace
William Young, Matthew Davis, Ilona M. McNeill, Bindu Malhotra, Sally Russell, Kerrie Unsworth and Chris W. Clegg (2015)





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How to Create a Business Development Strategy #small #business #cards

#business development plan

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How to Create a Business Development Strategy

The Business Development Strategy is used to underpin your main Business Plan and essentially it sets out a standard approach for developing new opportunities, either from within existing accounts or by proactively targeting brand new potential accounts and then working to close them.

This document highlights the key issues you should consider prior to compiling your own plan and will hopefully guide you logically through a proven framework.

The key word is Strategy. because you are creating a workable and achievable set of objectives in order to exceed your annual target.

Your Starting Point :

The key words are Who? What? Where? When? Which? Why? How?

Who are you going to target?

What do you want to sell them?

Where are they located?

When will you approach them?

Which are the appropriate target personnel?

Why would they want to meet with you?

How will you reach them?

If you have conducted regular account reviews with your key accounts during the previous twelve months, you should be aware of any new opportunities that will surface during the next twelve months. You will also, when assessing what percentage of your annual target usually comes from existing accounts, need to review data over the last two or three years. (It is likely that you can apply Pareto i.e. 80% of your business will probably come from existing accounts and in fact 80% of your total revenue will come from just 20% of your customers/clients)

You will be left with a balance (i.e. 20% of my business next year will come from new opportunities) therefore you can then begin to allocate your selling time accordingly.

Next: Ideal Customer Profiling





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International Strategy – Innovation Design #profitable #businesses

#business models

#

What we do

We are an international strategy design company that helps corporate organizations, entrepreneurs and startups innovate their business model and design a strategy for the future through co-creation and visualization. Founded in 2009 by Patrick van der Pijl, producer of the worldwide bestseller Business Model Generation.

We are Strategy Designers and Creative Designers with a background in innovation, strategy and change management. We combine business and design in a new business model for consultancy.

MORE

  • Worldwide bestseller Business Model Generation: a handbook for visionairies, game changers, and challengers, written by Alex Osterwalder, produced by Patrick van der Pijl. 1 million copies sold.

    from our blog

    Like an annual design thinker s pilgrimage, each year Business Models Inc. team members descend on our Amsterdam HQ from across the globe to share experiences and ideas, work together on the global business, and co-create.

    Client Case

    “The aha moment for me was seeing 200 people all sitting together before me with a high degree of anticipation at the beginning of the Forum in Sydney I have never seen this group so animated and excited.”





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  • 8 Steps to Create Your Business Strategy – Lighthouse Visionary #lucrative #business #ideas

    #business strategy

    #

    8 Steps to Create Your Business Strategy

    Featured Column in Whistler Question newspaper January 28, 2014

    You may have noticed that almost everywhere you looked at the start of January, there was something about the importance of setting goals. It’s enough to turn you off of planning for the future but at the very least, it is particularly important to set out direction for your business.

    Strategic planning is described as “an organization s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy.”

    Simply put, strategic plans create a road map to determine where an organization is going, how it s going to get there and how it will recognize success.

    This segues into an opportunity to create not only a direction for the organization but also to craft a team vision. What kind of team do they want to be? Allow them to identify their team values and define what they want to achieve. Business is moving away from isolated mentalities and has a fresh perspective of a team.

    Following are eight phases for the strategic planning process.

    1. Preparation. Identify reasons for planning and determine what outcome your organization wants from this process. Involve a cross-functional team to ensure the plan is realistic and collaborative.
    2. Mission, Vision and Values. Create them if you don’t have them and ensure they are still relevant if they already exist because this is the foundation of your business.
    3. Assess Your Situation. Often referred to as a “SWOT” (strengths, weaknesses, opportunities and threats), this is a tool to examine internal (strengths and weaknesses) and external (opportunities and threats) elements of a business. By reviewing all these factors as they relate to your business, you are able to create key objectives to leverage strengths, minimize weaknesses, capitalize on opportunities and evaluate threats.
    4. Agree on Goals and Objectives. A great definition is “the difference between where we are (current status) and where we want to be (vision and goals) is what we do (target objectives and action plans). In other words, goals are a statement of the visions, specifying accomplishments to be achieved if the vision is to become real. Objectives are statements of specific activities required to achieve the goals, starting from the current status.
    5. Create Action Plans and Timelines. Action planning typically includes deciding who is going to do what and by when and in what order for the organization to reach its strategic goals.
    6. Write the Plan. Complicated plans will collect dust on a shelf. A simple, user-friendly format will encourage those responsible for implementation to refer to it frequently.
    7. Implement the Plan. This is often where things fall apart so it’s imperative to specify the plan’s implementation roles and responsibilities with clear action plans for at least the first 90 days. Also, integrating the plan’s goals and objectives into performance reviews creates a powerful incentive.
    8. Evaluate and Monitor the Plan. Strategies are not set in stone and can be modified based on progress made, obstacles encountered, and the changing environment.

    Paving a path is a key ingredient to business success. As Jack Kinder said, “High achievement always takes place in the framework of high expectation.”





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    How to Create a Business Development Strategy #small #business #association

    #business development plan

    #

    How to Create a Business Development Strategy

    The Business Development Strategy is used to underpin your main Business Plan and essentially it sets out a standard approach for developing new opportunities, either from within existing accounts or by proactively targeting brand new potential accounts and then working to close them.

    This document highlights the key issues you should consider prior to compiling your own plan and will hopefully guide you logically through a proven framework.

    The key word is Strategy. because you are creating a workable and achievable set of objectives in order to exceed your annual target.

    Your Starting Point :

    The key words are Who? What? Where? When? Which? Why? How?

    Who are you going to target?

    What do you want to sell them?

    Where are they located?

    When will you approach them?

    Which are the appropriate target personnel?

    Why would they want to meet with you?

    How will you reach them?

    If you have conducted regular account reviews with your key accounts during the previous twelve months, you should be aware of any new opportunities that will surface during the next twelve months. You will also, when assessing what percentage of your annual target usually comes from existing accounts, need to review data over the last two or three years. (It is likely that you can apply Pareto i.e. 80% of your business will probably come from existing accounts and in fact 80% of your total revenue will come from just 20% of your customers/clients)

    You will be left with a balance (i.e. 20% of my business next year will come from new opportunities) therefore you can then begin to allocate your selling time accordingly.

    Next: Ideal Customer Profiling





    Tags : , , , , , ,

    International Strategy – Innovation Design #small #business #finance

    #business models

    #

    What we do

    We are an international strategy design company that helps corporate organizations, entrepreneurs and startups innovate their business model and design a strategy for the future through co-creation and visualization. Founded in 2009 by Patrick van der Pijl, producer of the worldwide bestseller Business Model Generation.

    We are Strategy Designers and Creative Designers with a background in innovation, strategy and change management. We combine business and design in a new business model for consultancy.

    MORE

  • Worldwide bestseller Business Model Generation: a handbook for visionairies, game changers, and challengers, written by Alex Osterwalder, produced by Patrick van der Pijl. 1 million copies sold.

    from our blog

    Like an annual design thinker s pilgrimage, each year Business Models Inc. team members descend on our Amsterdam HQ from across the globe to share experiences and ideas, work together on the global business, and co-create.

    Client Case

    “The aha moment for me was seeing 200 people all sitting together before me with a high degree of anticipation at the beginning of the Forum in Sydney I have never seen this group so animated and excited.”





    Tags : , , , ,
  • Business strategy Business strategy business studies and business english #new #business #grants

    #business strategy

    #

    Strategy theory

    Business strategy

    A business strategy is the means by which it sets out to achieve its desired ends (objectives). It can simply be described as a long-term business planning. Typically a business strategy will cover a period of about 3-5 years (sometimes even longer).

    A business strategy is concerned with major resource issues e.g. raising the finance to build a new factory or plant. Strategies are also concerned with deciding on what products to allocate major resources to – for example when Coca-Cola launched Pooh Roo Juice in this country.

    Strategies are concerned with the scope of a business’ activities i.e. what and where they produce. For example, BIC’s scope is focused on three main product areas – lighters, pens, and razors, and they have developed superfactories in key geographical locations to produce these items.

    Two main categories of strategies can be identified:

    1. Generic (general) strategies, and

    2. Competitive strategies.

    The main types of generic strategies that organisations can pursue are:

    1. Growth i.e. the expansion of the company to purchase new assets, including new businesses, and to develop new products. The Inland Revenue has expanded from being just a tax collector, to other functions such as collecting student loan repayments and paying tax credits.

    2. Internationalisation/globalisation i.e. moving operations into more and more countries. For example companies like Gillette, Coca-Cola, Kellogg’s, and Cadbury Schweppes are major multinationals with operations across the globe.

    3. Retrenchment involves cutting back to focus on your best lines. The Americans refer to this as ‘sticking to the knitting’ – i.e. concentrating on what you do best.

    Competitive advantage

    Competitive strategies are also important. Competitive strategies are concerned with doing things better than rivals. To be competitive a firm shouldn’t just copy the ideas of rivals. They should seek to out compete rivals. There are two main ways of being competitive.

    1. By selling goods at lower prices than rivals. This is possible when a firm is the market leader and benefits from economies of scale.

    2. By differentiating your product from those of rivals – which enables you to charge a higher price if desired.

    The airline industry is divided into two main segments. At one end of the market are the premium price category firms such as British Airways that concentrate on differentiation. They offer better service to passengers, more legroom, in flight entertainment, and more individualised attention. At the other end of the market the emphasis is on being the low cost producer and is exemplified by ‘no frills’ airlines such as Ryanair. Ryanair focuses on short haul destinations and keeping its planes in the air as frequently as possible in a 24 hour period.

    Economies of scale – The advantages that large firms have from producing large volumes of output enabling them to spread their costs over more units of output.

    Differentiation – Making a product different from rival offerings e.g. through packaging and labelling, customer care, additional extra features, etc.





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    Business Strategy – Wikibooks, open books for an open world #business #today

    #business strategy

    #

    Business Strategy

    Business (or Strategic) management is the art, science, and craft of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives. It is the process of specifying the organization’s mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. Strategic management seeks to coordinate and integrate the activities of the various functional areas of a business in order to achieve long-term organizational objectives. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives.

    Strategic management is the highest level of managerial activity. Strategies are typically planned, crafted or guided by the Chief Executive Officer, approved or authorized by the Board of directors, and then implemented under the supervision of the organization’s top management team or senior executives. Strategic management provides overall direction to the enterprise and is closely related to the field of Organization Studies. In the field of business administration it is useful to talk about “strategic alignment” between the organization and its environment or “strategic consistency”. According to Arieu (2007), “there is strategic consistency when the actions of an organization are consistent with the expectations of management, and these in turn are with the market and the context.”

    Before reading the rest, it is recommended that An Overview of Strategic Planning be read.

    General Business Management Edit

    The content of this Wikibook was originally found on Wikipedia, but moved due to various requests and because Wikibooks is a better location for the information. Theunixgeek (talk ) 20:45, 25 February 2009 (UTC)





    Tags : , , , , , , , ,

    How to Create a Business Development Strategy #business #names #ideas

    #business development plan

    #

    How to Create a Business Development Strategy

    The Business Development Strategy is used to underpin your main Business Plan and essentially it sets out a standard approach for developing new opportunities, either from within existing accounts or by proactively targeting brand new potential accounts and then working to close them.

    This document highlights the key issues you should consider prior to compiling your own plan and will hopefully guide you logically through a proven framework.

    The key word is Strategy. because you are creating a workable and achievable set of objectives in order to exceed your annual target.

    Your Starting Point :

    The key words are Who? What? Where? When? Which? Why? How?

    Who are you going to target?

    What do you want to sell them?

    Where are they located?

    When will you approach them?

    Which are the appropriate target personnel?

    Why would they want to meet with you?

    How will you reach them?

    If you have conducted regular account reviews with your key accounts during the previous twelve months, you should be aware of any new opportunities that will surface during the next twelve months. You will also, when assessing what percentage of your annual target usually comes from existing accounts, need to review data over the last two or three years. (It is likely that you can apply Pareto i.e. 80% of your business will probably come from existing accounts and in fact 80% of your total revenue will come from just 20% of your customers/clients)

    You will be left with a balance (i.e. 20% of my business next year will come from new opportunities) therefore you can then begin to allocate your selling time accordingly.

    Next: Ideal Customer Profiling





    Tags : , , , , , ,