Business Mastery for Entrepreneurs – Part 28: What is the Best Strategy for Your Business? – Tool XXI – Blue Ocean Strategy – Part 1
In today’s blog post, I will share another great visionary approach, the blue ocean strategy. I’ll explain the 5 steps to create new ideas that help you lead your business out of the red competitive ocean into a new space where the competition is irrelevant – your own blue ocean. What if you could consistently create […]
Business Mastery for Entrepreneurs – Part 27: What is the Best Strategy for Your Business? – Tool XX – Visionary Business Strategy
In today’s article I will share a brief introduction to the visionary approach to strategy and show when you could use this strategy. When is the visionary approach to strategy the right choice? Your company should consider taking a visionary approach when your company can reliably create or re-create an environment largely by themselves. For […]
Business Mastery for Entrepreneurs – Part 26: What is the Best Strategy for Your Business? – Tool XIX – Shaping Business Strategy
In today’s article I will share a brief introduction to the shaping approach to strategy and show when you should use this strategy. What is the purpose of the shaping approach to strategy? Whenever the environment is unpredictable but malleable, your company has the extraordinary opportunity to lead the shaping or reshaping of a whole industry. And your company has […]
Business Mastery for Entrepreneurs – Part 25: What is the Best Strategy for Your Business? – Tool XVIII – Renewal Business Strategy
In today’s article I will share a brief introduction to the renewal approach to strategy and show when you should use this strategy. Why do we need a renewal approach to strategy? Because we live in a world of faster change, raising the likelihood that a company’s approach to strategy will become mismatched to the changing environment. It is so […]
Business Mastery for Entrepreneurs – Part 24: What is the Best Strategy for Your Business? – Tool XVII – Adaptive Business Strategy
What is the best strategy to build and maintain a successful company? The answer depends on your industry and environment and usually consist of more than just one approach. Depending on your needs you might want to adopt different strategies to be able to respond to changes in your industry and environment fast enough to […]
Business Mastery for Entrepreneurs – Part 23: What is the Best Strategy for Your Business? – Tool XVI – Classical Business Strategy
When is the classical approach to strategy the right choice for your company? In their book, Your Strategy Needs a Strategy, Martin Reeves and his co-authors,1 emphasized the importance of the classical approach to strategy for established and larger companies. A great summary of their work can be found in the Harvard Business Review2 or in the Boston […]