Educating People for Humanity
Porter’s generic strategy is a framework developed by Michael Porter that describes three basic strategies that a business can adopt to achieve and sustain competitive advantage. These strategies are based on a company’s relative...
According to management scholar Kenneth R. Andrews, a strategic business unit (SBU) is a “separate, identifiable part of a company that formulates its own strategy and is accountable for its own results.” An SBU...
Strategic management is the process of formulating and implementing strategies that help organizations achieve their goals and objectives. The three core areas of strategic management are:
From a stakeholder’s perspective, responsibility is often seen as more important than profit, while from a shareholder’s perspective, profit is the primary goal. Here are some arguments for each perspective: Stakeholder perspective: Shareholder perspective:...
Corporate Social Responsibility (CSR) is a business practice that involves companies taking responsibility for their social, environmental, and economic impacts on society. It is a voluntary initiative that goes beyond legal and regulatory requirements...
Concept: SWOT is a conceptual framework for a systematic analysis that helps organize the external threats and opportunities with the internal weaknesses and strengths of the organization. SWOT analysis is the simplest way to...
Financial analysis is the process of evaluating an organization’s financial performance and health. It involves examining financial statements, such as the income statement, balance sheet, and cash flow statement, to understand how the organization...
Value chain analysis was first introduced by Michael Porter in his book “Competitive Advantage: Creating and Sustaining Superior Performance” in 1985. Porter is a renowned scholar and strategist who has made significant contributions to...
VRIN analysis is a framework for evaluating the strategic resources and capabilities of a business to determine whether they provide a sustained competitive advantage. VRIN stands for Valuable, Rare, Inimitable, and Non-substitutable. Valuable: Resources...
Resource and competence analysis is a method used by organizations to assess their internal capabilities and strengths in order to develop strategies that can enhance their competitive advantage. It involves identifying and evaluating the...
Analytical Tools / Management Approach / Strategy
Kotter’s 8 Steps to Successful Change
February 19, 2023
