News & Advice

An effective strategic plan serves as a roadmap for an organization, guiding decision-making, resource allocation, and actions to achieve its goals and fulfill its mission. Here are five characteristics of an effective…

The SMART criteria are a framework often used for setting goals. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. Here's a breakdown of each component... Specific - Goals should be clear and…

A growth strategy is a plan of action designed to achieve significant expansion in a company's business operations, revenue, market share, or profitability over a specific period. Growth strategies are necessary for…

The SMART criteria are a framework often used for setting goals. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. Here's a breakdown of each component... Specific - Goals should be clear and…

Porter's strategy theory, developed by renowned economist and professor Michael E. Porter, is a framework for understanding competitive advantage and strategic positioning within industries. Porter introduced his theory of competitive strategy in…

The number of goals in a strategic plan can vary depending on factors such as the organization's size, complexity, industry, and strategic priorities. Regardless, it's advisable to focus on a limited number…

The main targets of strategic planning are typically the leaders and stakeholders of an organization, including... 1. Top Management - Executives and senior leaders within the organization, including the CEO, COO, CFO,…

Porter's focus strategy, also known as focus differentiation strategy or focus cost leadership strategy, is one of the competitive strategies identified by Michael Porter in his seminal work "Competitive Strategy - Techniques…

Business-level strategy is important for several reasons... 1. Competitive Advantage - Business-level strategy helps organizations differentiate themselves from competitors and gain a competitive advantage in the marketplace. By focusing on factors such…