Every company tries to create a competitive advantage via its resources. However, sustaining a competitive advantage, in the long run, requires a strategic assessment of your company’s resources. VRIO Framework provides you a simple but smart method to evaluate the capabilities of your company’s resources in creating sustainable competitive advantage. What is the VRIO Framework?...
Positioning is your brand’s position in the minds of customers and prospects. By definition, at the end of the day, positioning is determined by how customers perceive your brand – compared to other brands in the same market. Thus, you should focus on how customers see your brand relative to your competitors. In this article,...
In our previous articles, we emphasized the importance of understanding your customers to put your brand in a unique position. Customer Journey allows you to understand what customers experience and feel while interacting with your brand. Empathy Mapping helps you understand what your customers are feeling, thinking, doing, and saying. In this article, we will...
To keep your strategy working in hard times, you have to address its weaknesses in good times. Robert Simons, a professor in Harvard Business School, determined seven critical questions that you need to ask to spot your strategy’s weaknesses. As Simons states in HBR Nov. 2010 issue, “The questions may seem obvious, but the choices...
Game Theory in a Nutshell Game theory examines decisions of rational players based on the outcomes of adopted strategies for each player. In a competitive environment, companies can benefit from game theory to determine optimal strategy subject to expected competitive moves. Prisoner’s Dilemma and Nash Equilibrium Two key concepts will help you figure out how...
In our previous articles, we mentioned various tools from Blue Ocean Strategy and analyzed their benefits. In this article, we will talk about another tool called “Sequence of Blue Ocean Strategy”. As can be understood from its name, rather than being a unique tool, it shows in which order you should be applying the Blue...
Our previous articles on Blue Ocean Strategy were aimed at providing you with the tools necessary to formulate an overall strategy: An Introduction to Blue Ocean Strategy How to Create New Markets? Six Paths Framework Three Tiers of Noncustomers Buyer Utility Map Price Corridor of the Mass These tools were helpful in making competition irrelevant...
Designing an effective portfolio strategy will be one of the key challenges for companies during the recovery period from the coronavirus crisis. Now, more than ever, companies need to assess their portfolios and optimize their investments and returns. To touch upon this subject, we analyzed BCG (Growth Share) Matrix and GE – McKinsey Matrix in...
In our previous article, we analyzed a tool for portfolio optimization: BCG (Growth Share) Matrix. It analyzed the portfolio of products or business units in two aspects: market attractiveness and long-term profitability. In this article, we will explain the GE – McKinsey Matrix. It is designed for a similar purpose as BCG Matrix: Portfolio optimization...
Covid-19 caught not only states and healthcare systems, but also companies and brands unprepared. Companies and brands struggled a lot to determine their communication strategies during the early weeks of the pandemic. Confusion in determining strategy led to a variety of communication approaches ranging from keeping quiet to pushing products unprecedentedly. But, what kind of...
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