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What is Innovation Strategy? Thubmnail

What is Innovation Strategy?

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What is innovation strategy, is a common question that business owners have. Given that innovation is critical to creating and sustaining a successful business, it’s vital to have a sound innovation strategy. Those that approach innovation on impulse typically perform poorly! It’s critical that the investment in innovation aligns with ...

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The Key Elements of Innovation Thubmnail

The Key Elements of Innovation

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Being able to manage the key elements of innovation so it becomes a focused, well-developed and repeatable activity, is a key characteristic that separates the most successful businesses from the rest. Effective ongoing innovation requires a focus on the three key elements of innovation. These are having: A well developed ...

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What is Innovation – Moving Beyond the Hype Thubmnail

What is Innovation – Moving Beyond the Hype

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The question ‘What is innovation?’, is often surrounded by a lot of hype and mystique. Because of this, innovation is often misunderstood. This can be tremendously detrimental to those wanting to get started on their innovation journey and should be avoided at all costs. Instead, the answer to ‘What is ...

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Why Businesses Struggle to Innovate Thubmnail

Why Businesses Struggle to Innovate

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Typically, businesses struggle to innovate because of disproportionate optimism. Logically, innovation makes a lot of sense and most business owners understand that it’s a key driver of their long-term success. Nevertheless, they often struggle to innovate and fail to engage in the ongoing innovation activities needed to sustain long-term success! ...

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Critical Success Factors Thubmnail

Critical Success Factors

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As a business owner, the sheer number of tasks you need to perform makes it essential that you establish and focus on the critical success factors!  The breadth of your responsibilities can make it exceptionally difficult to know what to focus on, what to delegate, and what to ignore! With ...

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How to use Porter’s Five Forces Thubmnail

How to use Porter’s Five Forces

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Regardless of your industry, Porter’s Five Forces is a powerful tool business owners can use to understand: The dynamics of the industry their business operates in The key drivers of its profitability How your actions may affect your industry position and level of profitability If you do not have a ...

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How to Undertake a Pestle Analysis Thubmnail

How to Undertake a Pestle Analysis

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The pestle analysis is a tool used to help identify opportunities and threats in the broader business environment and in turn, develop suitable responses. Regardless of size, all businesses are impacted by the environment they operate in. The business environment is highly complex, constantly changing and varies significantly from one ...

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Strategies for Achieving Competitive Advantage Thubmnail

Strategies for Achieving Competitive Advantage

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If you cannot achieve and sustain a competitive advantage, you will not achieve the long-term performance levels needed to maximise your lifestyle and wealth. To maximise success, you must understand the key choices you have for creating competitive advantage, make an appropriate choice and stick to it! Not making a ...

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How to Create a Business Strategy! Thubmnail

How to Create a Business Strategy!

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To achieve superior performance, it’s essential to know how to create a business strategy.  You must create arobust business strategy that’s unique to you and clearly details how you will succeed in the competitive environment in which you operate. There is no single best business strategy! Instead, when creating your ...

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What is Business Strategy? Thubmnail

What is Business Strategy?

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‘What is business strategy?’, is a common question business owners and managers ask.  It’s an important question because success doesn’t happen by itself. It takes planning and deliberate action to create success. Not having a clear and well-developed business strategy is a recipe for disaster and heartbreak. As a business ...

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