Posts Tagged

SWOT

Business Strategy: External Analysis

Let me introduce a modified version of my favorite tool for performing external analysis: Porter’s Five Forces Model of Industry Attractiveness. Porter’s Five Forces Model is a framework for assessing long-term profitability in an industry. It is used to fill in the opportunities and threats sections of a SWOT table. It evaluates how profitable a well-positioned product…

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Introduction to Business Strategy

After covering the basics of marketing, I will cover the basics of strategic planning: the act of formulating a new strategic plan for an organization. Business strategy is all about formulating, implementing, and evaluating decisions that enable an organization to achieve its long-term objectives. Strategy formulation combines and converts three inputs – (1) long-term objectives, (2) external analysis,…

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Writing a Business Plan: Situational Analysis (Market Research)

Situational analysis is all about conducting market research for drawing a strategic plan and a marketing plan. After conducting market research, you expect to understand the structure of your company’s customer, the company itself, and your current and future market/industry/competitors. As you go through your market research, use and cite sources to support your claims….

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