Bootstrapping as a business strategy

Bootstrapping as a business strategy

Bootstrapping is a technique used by individuals in business to overcome obstacles, achieve goals and make improvements through organic, self-sustainable means with no assistance from outside. It basically means to found or start a business using personal assets (such as savings, sweat equity, low operating costs, and fast cash sales turnaround) in the absence of […]

How to Compete with The Big Guys as a Small Business

Taking on a large corporation in an industry can seem like an insurmountable task for a small business. The fact is that many small companies cannot compete because they cannot lower prices enough to beat the large competitor. While some of these companies cannot compete with corporations, there are plenty that are able to take […]

How to Foster Diversity in Your Workplace

Diversity is a hot-button issue and one of the most important philosophical discussions occurring in America and in the global business world today. From politicians to educators to bloggers, it seems that everyone has an opinion on what diversity means, how important it is, and how to encourage it in the workplace. All these voices […]

Should you rely on internal or external strategy experts? Part 3: How to combine them for best results

How to work with internal and external strategy consultants

Strategic planning and the related tasks can be challenging activities for any organization – small or large. Some are large enough to have a team of internal strategy experts. Others rely on external consultants. This part of my article series discusses how to make the best choice between internal and external strategy experts and how […]

Should you rely on internal or external strategy experts? Part 2: The pros and cons of external strategy consultants

Pros and cons of external strategy consultants

Strategic planning and the related tasks can be challenging activities for any organization – small or large. Some are large enough to have a team of internal strategy experts. Others rely on external consultants. This part of my article series discusses the advantages and downsides of external strategy consultants.

Should you rely on internal or external strategy experts? Part 1: The important role of in-house strategy experts

Pros and cons of internal and external strategy experts

Strategic planning and the related tasks can be challenging activities for any organization – small or large. Some are large enough to have a team of internal strategy experts. Others rely on external consultants. Other options are to delegate strategy-related tasks to a member of the management team or to skip it at all (which […]

Can Finance Really Become a Strategic Partner to the Business? Corporate Portfolio Management may be the Answer

Two Levers of Corporate Portfolio Management: Portfolio theory and organizational behavior

Much has been written about how finance organizations can become strategic partners with the businesses they support. While purported experts point to a variety of frameworks, scorecards and key performance indicators, etc. as the keys to bridging the gap between finance and business, these trite ‘solutions’ have done little to make finance the strategic business […]

Porters Five Forces – content, application, and critique

The Porters Five Forces model determines competitiveness and attractiveness of an industry

The model of the Five Competitive Forces was developed by Michael E. Porter in his book „Competitive Advantage: Creating and Sustaining Superior Performance“ in 1980. Since than it has become an important tool for analyzing an organizations industry structure in strategic processes. The Porters Five Forces model is actually one of the best-known tools for […]