What is Competitive Advantage ? Competitive advantage can be defined as the superiority that is enjoyed by a firm over its competitors in an industry. Hence, it can be thought of as a strategic advantage of a business. It allows a firm to build its position stronger than before. The terms strategic advantage and competitive advantage … Read more
What is Business Definition ? Business definition refers to the description of products, services, activities, functions, and markets in which an organization deals. It is a component of mission statement which forms the foundation for all the strategic planning processes and shows the organisation a way to achieve success. It also helps the organisation in … Read more
What is Capabilities ? Capabilities can be defined as the ability and capacity to utilize the organisational resources in an efficient manner. Having appropriate capability is necessary to effectively utilize an organisational resources. The capabilities of an organisation are more firm-specific than resources. They cannot be easily copied, traded or measured and hence act as very good … Read more
What is Leadership ? Leadership can be defined as the capability to inculcate confidence in employees to achieve the objectives of the organisation. It is a technique which outlines the group and organizational goals, assists in describing the groups or organizational culture and then stimulates behavior towards the realization of these goals. Effective leadership is based … Read more
What is Organizational Structure ? Different activities such as allotment of work, establishing harmony, and directing are the parts of an organisational structure, which collectively aim at the attainment of organisational objectives. The structure of an organisation gives the outlook about the organisation to the people. The coordination between an organisation’s various works takes a … Read more
What is Corporate Culture ? Corporate culture is defined as the set of values, norms of behavior, modes of interactions, and ethical principles shared by the employees and owner of an organisation Corporate culture determines the character of an organisation. The vision and character of the founders of the organization are projected through the corporate culture … Read more
Mintzberg’s 5P’s of Strategy Strategy has been used implicitly in different ways even if it has traditionally been defined in only one. Explicit recognition of multiple definitions can help people to man-oeuvre through this difficult field. Mintzberg provides five P’s of strategy: 1) Plan Strategies : A plan is probably the way in which most people use the word ‘strategy. … Read more
What is Strategic Planning ? Strategic planning is not the same as corporate planning though it is a part of it Strategic planning is systematic process of finding out what goals the organisation can achieve in the future. It is a managerial process by which the organisation develops and measures its competencies so that they … Read more
In today’s fast-paced business world, the concept of “strategic leadership” often pops up as a crucial element for success. But what does it really mean to be a strategic leader? Why is it so vital in our constantly changing environment? Let’s explore what strategic leadership is all about, why it matters, and how you can … Read more
What is Behavioural Implementation ? Successful strategy preparation does not assure the effective implementation of the same. To implement strategy effectively the organization needs discipline, motivation and hard work from all the employees in the organization. There needs to be goal congruence in the efforts of the employees. Managers have to play a very critical … Read more