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BHAG (Big Hairy Audacious Goal)

BHAG stands for Big, Hairy, Audacious Goal.  It was coined by business professors James Collins and Jerry Porras in their HBR article about enduring corporate visions.  A BHAG is a strategic business statement which is created to focus an organization on a single medium-long term organization-wide goal which is audacious, likely to be externally questionable, but not [...]

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Strategy Dynamics

Strategy Dynamics is a business framework developed by Kim Warren that explains how business performance has developed up to the current date, and how to develop and implement strategies to improve future performance. The approach emphasises building and sustaining the resources and capabilities needed to succeed. The target of Strategy Dynamics is to answer some [...]

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TDC Matrix

The Time Distance Complexity Matrix (TDC Matrix) is a business framework created by Ben Tiggelaar. It helps assess the value or influence of information and communication technology (ICT) and the internet as a general concept. It is used throughout the strategy development process, for example vision, mission, strategic analysis and implementation etc. The framework is [...]

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Consumer Decision Journey

The Consumer Decision Journey, sometimes also called the Customer Decision Journey, is a business framework developed by McKinsey & Co.  It describes the process a consumer goes through of making a purchase.  The Consumer Decision Journey proposes that the customer goes through four phases in a cyclical process. Each phase represents a potential marketing battleground [...]

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Game Theory

Game Theory is a study of strategic decision making. More formally, it is “the study of mathematical models of conflict and cooperation between intelligent rational decision-makers.” An alternative term suggested “as a more descriptive name for the discipline” is interactive decision theory. Game theory is mainly used in economics, political science, and psychology, as well [...]

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Benchmarking

A benchmark is a point of reference for a measurement. Benchmarking is process of comparing one’s business processes and performance metrics to industry bests or best practices from other industries. It does this by capturing performance metrics and comparing their values with a comparable set of previously recorded measures. This comparison set can be taken [...]

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Bottom of the Pyramid

The bottom of the (economic) pyramid consists of the 4 billion people living on less than $2.50 per day. For more than 50 years, the World Bank, donor nations, various aid agencies, national governments, and, lately, civil society organizations have all done their best, but they were unable to eradicate poverty.  This concept is also [...]

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Instrumental Approach of Stakeholder Theory

The view regarding Strategic Stakeholder Management, described by Berman, Wicks, Kotha, Jones using earlier work of Edward Freeman is an Instrumental Approach.  Stakeholder theory plays a very important part in the modern business ethics. It is a theory of organizational management and business ethics that emphasis on morals and values required in managing the organization. [...]

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Resource-Based View

The Resource Based View (RBV) as a basis for a competitive advantage of a firm lies primarily in the application of the bundle of valuable interchangeable and intangible tangible (intangible tangible makes no sense) resources at the firm’s disposal. To transform a short-run competitive advantage into a sustained competitive advantage requires that these resources are [...]

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Bricks and Clicks

The Bricks and Clicks (also called Clicks and Bricks, Click and Mortar, or Bricks, Clicks, and Flips) business model refers to the marriage of traditional ways to conduct a business (often using direct, face-to-face contacts with customers) and Internet ways to interact with customers (often via websites, email, FTP and other internet technologies)–and sometimes with the third [...]

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