The GE McKinsey Matrix is a strategy tool that enables multi-business corporations to prioritize its investments among its business units. In this article, I’ll describe three components related to the GE McKinsey Matrix: Industry Attractiveness Business Unit Strength Strategic Implications of the GE McKinsey Matrix In the 1970s, General Electric requested consultation from McKinsey &…
The Competitive Profile Matrix is an analytical tool that helps you establish your company’s competitive advantage in an easy to use and read format. At one glance, you will be able to see your company’s competitive landscape, your position in a given market, and possible opportunities to differentiate your company’s products and services from the competition. …
If you’re struggling with getting business ideas, you came to the right place. In this article, I’ll describe 5 approaches to come up with business ideas. Approach #1: Play To Your Strengths In general, you’ll maximize your chances of success by continually learning topics and skills that are most related to your core…
Business strategy frameworks provide the following benefits: Help you determine which products warrant the biggest investments of resources and time Help you determine the optimal courses of action in the short and long term Help you attract groups of customers that you wouldn’t attract using traditional strategies in your industry Help you satisfy customer needs…
The S-Curve Pattern of Innovation highlights the fact that as an industry, product, or business model evolves over time, the profits generated by it gradually rise until the maturity stage. As a product approaches its maturity stage, a business should ensure that it has new offerings in place to capture future profit opportunities. These new…
In this article, I’ll provide 7 business ideas for smart passive income. 1. Create a Course Share your knowledge with a course hosted on your own website or on any number of course marketplaces. Ideally, you would host a premium, high-priced course on your own website and an email list containing prospective and current…
In this article, I’ll describe 5 business strategy frameworks. 1. SWOT Matrix this is usually the most versatile business strategy framework for most situations. It encompasses 4 factors: Strengths – these are internal factors such as activities and characteristics that help your company reach its objectives and help your company differentiate itself from its…
If you’re feeling stuck and you want to move forward in life and reach your goals at a faster pace, you came to right place. In this article, I’ll describe how to move forward in life when you feel stuck. If you keep doing what you’re doing now, where do you see yourself…
In this article, you’ll get PESTLE Analysis Explained in a clear and concise way. PESTLE Analysis is a simple and widely used tool that helps you consider and analyze trends by specific categories. This framework helps you understand the “big picture” forces of change in your society and how they might affect…
In this article, I’ll discuss 7 project management concepts that will help you achieve your goals. Work Breakdown Structure (WBS) – this is a diagram that breaks down your activities into manageable chunks so that you can easily isolate and identify each individual task. This gives you a granular understanding of what needs to be…
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