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The Marketing Mix – The Four P’s of Marketing
Key learning outcomes: Establish that the marketing department has a key role in a business’s success or failure. Recognise that a new product or service should be designed with customers’ needs and preferences in mind. Acknowledge the importance of a pricing strategy that considers value for the customer and the opportunities for discounting. Identify the…
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The Balanced Scorecard
Key learning outcomes: Learn how the balanced scorecard enables the assessment of a company’s future performance. Describe the four perspectives that are measured – financial, customer, business processes, and learning and growth. Understand that when using this tool, a company devises objectives, measures, targets and initiatives for each perspective. Implement the balance scorecard in your…
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Free Article – Top 10 Tips For Success in Retail
Key learning outcomes: Demonstrate the value of conducting market research prior to a product launch, creating a business plan and differentiating your business from the competition. Recognise the impact of your business’s location on its success. Understand the benefits and pitfalls of diversification. Conclude that the customer is your livelihood – so treat them well!…
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The 5 Whys
Key learning outcomes: Learn that Toyoda’s 5 Whys is a useful problem-solving tool in both your work and personal lives. Apply the 5 Whys technique to both problem-solving and goal-setting. Recognise that the more we understand why we want something, the more likely we are to achieve it. Understand the limitation of the 5 Whys…
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Eight Steps for Leading Change
Key learning outcomes: Understand that your business is constantly evolving in a changing marketplace. Apply Dr John Kotter’s internationally recognised eight-step model for leading change. Recognise that some of your staff may resist change, which can be a significant challenge when strengthening your business. Acknowledge the importance of communication and buy-in when implementing change initiatives.…
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Force Field Analysis
Key learning outcomes: Apply force field analysis when contemplating change in your business. Differentiate between driving forces and restraining forces. Address negative or restraining forces to tip the scales in favour of a change initiative. Practise using this visual tool in brainstorming sessions to optimise its value. Article The force field analysis is a strategic…
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Stakeholder Analysis
Key Learning Outcomes Learn that a stakeholder can be impacted by, or impact on, a company and may be an individual or an organisation. Understand the benefits of stakeholder analysis for your business particularly when you are planning to implement changes. Apply the power-interest matrix to determine the level of power and interest a stakeholder…
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Blue Ocean Strategy
Key Learning Outcomes Learn about the “Blue Ocean Strategy” and the benefits it offers your business. Delivering products and services in unique ways, rather than adopting new technology, may win you new clients and increase your market share. Understand the importance of identifying new product markets and offering products that represent value for your customers.…
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Boston Matrix
Key Learning Outcomes Learn about the Boston Matrix, one of the best-known business strategy models, developed by Bruce Henderson of Boston Consulting Group in 1970. Benefit from breaking down your business into strategic business units to allow for more detailed analysis and better decision-making. Use Henderson’s model to analyse your business to ensure you are…
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Free Article – Working On Versus Working In The Business
Key Learning Outcomes Understand the difference between working on versus working in the business. Recognise that when you work in your business you are dealing with customers, doing the accounts or producing the products to be sold. Recognise that when you work on your business you are developing strategic and expansion plans, and identifying new opportunities.…