How well does your business strategy address potential moves by the competition? Make sure your business strategy is not created in a vacuum. It must address the current competitive scenario and likely future competitor moves.
- Collaboration in the Workplace - As the world becomes smaller, collaboration will be taking place on a grand scale. Learn about how one Toronto-based mining company tore down their secretive walls and reaped benefits from working together with the whole world.
- Learning From Your Competitors - While many small businesses watch their competitors, they don't take the time to learn from them. Believe it or not there is a lot that can be learned from our competition.
- Industry Analysis - The key to defining a business strategy is doing a thorough industry analysis and figuring out where the opportunities are. Here's how to conduct an industry analysis in a way that will help you define the best business strategy.
- How to Make Money Giving Things Away - What is freeconomics and why is freeconomics rising? How can your business make money by giving things away for free?
- First-to-Market Strategy - The first-to-market fallacy is the misguided belief that being first gives you a competitve advantage in business. Does being first to market ensure that you will dominate the market? Not necessarily. You might find yourself simply paving the way for your competitors.
- Profiting In An Unprofitable Industry - Allegiant Air is a story of an airline that did the impossible by defying the laws and rules of the airline industry and became the most profitable airline in the United States. This article describes how they did it and how you can learn from their processes and practices to profit from the unthinkable.
- Low-Cost Leadership Strategy - So you want to compete on price. How do you get your business ready for this? We provide some tips in this article.
- Avoiding The Commodity Trap - Are you caught in the commodity trap? If many businesses offer exactly what you offer, your offering may be considered by prospective buyers to be a commodity. That means lower prices and a tougher sell. Here are some ways to avoid being perceived as a commodity.
- Second to Market Strategy - Businesses that are first to market often lose their lead. Being second to market can still be a winning business strategy if you play your cards right.
- Researching Your Industry - By conducting research on your industry and the major players and factors within your industry, you can better prepare your company for long-term success. Many entrepreneurs are hesitant to conduct industry research due to the perceived cost and effort involved. Fortunately, there are inexpensive and effective methods to conduct industry research.
- Strategies For Competing Firms - When surrounded by competition, you need a focused strategy to emerge victorious. Here we discuss some strategies that you can adopt.
- Deferentiation Strategy Works for Your Business - Often, following what the industry leaders are doing doesn’t get you anywhere. You need to stand out from the crowd. Here, we talk about what the differentiation strategy is about.
- Think Like Your Competitors - Game theory and strategy is a common and popular method for analyzing how firms make strategic decisions. One of the most common strategies addresses how established firms must decide is how to compete against emerging companies and emerging threats.
- Competing in Today's Competitive Markets - Competition today is as fierce as ever as markets become saturated, barriers to enter new markets become lower, access to venture capital becomes easier, and the number of entrepreneurs increases. Studying other competitors in other markets can help you assess what competitive strategies your firm can utilize to help strengthen your competitive advantage.
- Competing in Established and Competitive Markets - How do entrepreneurs do the unthinkable by entering and succeeding in markets that have long been established with dominant competitors?
- The Benefits of Competition - Competition in the world of business is commonly viewed in a negative light, but doesn't have to be the case. Competition can be a good thing for you, your competitor and particularly your customer. What are the ways in which competitors can benefit you?
