by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What are Intended, Deliberate, Realized, and Emergent Strategies?Henry Mintzberg and his colleagues at McGill University distinguish intended, deliberate, realized, and emergent strategies. Note: This framework has given rise to two factions – the Design School...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is the Corridor Principal?The Corridor Principle is a relatively new concept that states that the creation of a venture or firm by an entrepreneur opens it up to opportunities and ideas it could not see before the start of the business. This principle also...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is the Industry Life Cycle Analysis?Industry life cycle analysis is a tool for assessing industries and companies based on the stages of development at a particular period.Four stages have been identified in the lifecycle of a business or industry, they are;...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
How do Companies set Goals?How companies develop goals and objectives will vary based upon the organizations structure and the orientation of leaders. The traditional method of setting goals proceeds as follows below.Guided by the mission and vision statements,...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is McKinsey’s 7S Model?This model was developed by McKinsey & Co. Consultants in concert with Harvard Business School and Stanford Business School professors. The model presents the attributes of a company that are influenced by these 7 factors. The...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is a Mission Statement? It is the organization’s raison d’tre or reason for existing. A mission statement explains where a company wishes to go or what goals or objectives it hopes to achieve. Done correctly, the mission statement will clarify the...
