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Strategy is simple
A strategy is a plan to create value. Value for customers, value for employees, value for suppliers. It is planning for the future.
Strategy doesn't begin with a focus on profit. Financials, profitability, return on investor capital is the result of strategy. It is not the starting point.
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384 reads
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Ways to raise willingness to pay
- Product quality. The higher the quality, the more appealing the service, the higher the willingness to pay.
- Product complements. A compliment is a product or service that supports willingness to pay. For example, razor and razor blades, or printer an...
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86 reads
Value explained
Value is the difference between a willingness to pay and a willingness to sell. This can be shown with a value stick.
- At the top, we have a willingness to pay.
- At the bottom, we have a willingness to sell.
The difference between the two is the value the com...
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135 reads
How to create more value
We can create more value in two ways.
- By increasing the willingness to pay. It describes the customers. It's the most a customer would ever pay for a product or service. Value can be created by focusing on "customer delight".
- By decreas...
23
91 reads
How to lower willingness to sell
Two ways to be more attractive in the market for talent:
- Pay more money. When you pay more money, you will be more competitive in the marketplace for talent.
- Make the job a better job. Create more attractive working conditions, for example, bet...
23
88 reads
MORE LIKE THIS
Strategy Development
If you want your culture’s defining traits to be inclusivity, empowerment, and collaboration, the strategy process must reflect this desire. Opening up strategy development to participation, away from the typical top-down, closed approach, is a crucial act.
It might i...
Business Is Personal
It is normal for an organization to have goals related to revenue, profit and increasing the bottom line. But most organizations forget that the engine of achieving such goals is the people working for the company, and if the focus is on how fast the employees are growing persona...
Forming the habits of an investor
Investors put their money to work. They know that the money they set aside today sets them up for financial freedom.
- An investor puts any excess money towards investments that will earn more capital.
- They value learning new skills and think of ways to use it...
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