Strategic planning is the process of defining a company’s long-term goals and developing a plan to achieve them. It involves analyzing the current situation, identifying opportunities and threats, and setting objectives and strategies to capitalize on opportunities and mitigate threats. Key Characteristics / Core Concepts Long-term focus: Strategic plans typically cover a period of several … Read more
Market research is the process of gathering, analyzing, and interpreting information about a market, a specific product or service within a market, or a customer base. It provides insights into consumer behavior, preferences, and needs to inform business decisions. Key Characteristics / Core Concepts Data Collection: Gathering information through surveys, interviews, focus groups, and observation. … Read more
A business strategy is a long-term plan that outlines how a company will achieve its goals and objectives. It provides a roadmap for navigating the competitive landscape and securing a sustainable competitive advantage. Key Characteristics / Core Concepts Long-term vision: Defines the desired future state of the business. Competitive advantage: Identifies how the company will … Read more