Once the problem has been defined, the next thing is to decide on the strategic choices – do you compete on price i.e. low-cost producer and sell at the lowest price. In which case, your source of competitive advantage is affordable pricing? Or do you focus on being differentiated by making products and offering services
“Strategy is about making choices, trade-offs; it’s about deliberately choosing to be different.” Michael Porter Many leaders want to keep their options open. Because they want to avoid accountability. Keeping one’s options open is not prudent leadership, it is an indication of lack of confidence in the decision-making processes. Keeping your options open means more
Are you winning or losing? The world has been turned upside down. Who would have imagined a premier league or La Liga league football game being played live in an empty stadium? How about postponing the Olympics? I predict the coronavirus will soon come to an end. But do not get ready to tap into
For any dynamic organization, the management of Public Relations is a key priority for its Board. Many Board members lack the skills they need to succeed in positively influencing public perceptions. In today’s interconnected world, businesses are increasingly becoming digital and technology trends including all forms of social media have become a major boardroom affair
To win, I recommend you apply the ACT model of winning behaviors for creative and successful business management during hard times. ACT stands for agile, change and teach others. You must be agile. Change fast. And Teach to empower your team. ACT to tap into opportunities that always come with tough times. Agile Agile is
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