by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is Business Strategy?Strategy is a firm’s orientation, objectives, and tactics employed in pursuit of its objectives or goals. A strategic plan is how these attributes are organized or aligned. Strategies can be applied generally to the firm’s value...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is a Customer Centric Strategy?A customer-centric strategy, as the name implies, regards focusing on the customer or user experience. Basically, the business attempts to provide a positive or desirable customer experience before, during, and after the purchase of...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is Blue Ocean Strategy?The blue ocean strategic concept was developed by Profs. Kim and Mauborgne of INSEAD Business School. It posits that creating a new market can be more beneficial than competing in an existing market with established competitors. These new...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is the BCG Growth-Share Matrix?The BCG matrix, also known as the growth-share matrix, was created by the Boston Consulting Group, a prestigious business consulting firm. The purpose of the matrix is to allow a corporation that has multiple business units or is...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is the GE Matrix?The GE-McKinsey Matrix is a tool to help prioritize and strategize your business investments among smaller business units. The GE-McKinsey Nine-box matrix functions by providing strategic options on how to get maximum yield from each small...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is the Overfished Ocean Strategy?The Over-Fished Ocean strategy is an alternative to red and blue ocean strategies that addresses resource limits and the need to focus on conserving and maximizing resources along the value chain. Resources refers to any of the...
