"The essence of strategy is choosing what not to do."
MICHAEL PORTER
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High School Reading Teacher. Book lover. Sharing insights to inspire discovery. "Reading is to the mind what exercise is to the body." – Joseph Addison
Strategic analysis is a cornerstone of effective business decision-making. It involves the systematic collection, interpretation, and application of data to understand the current state of the business, anticipate future trends, and identify opportunities and threats. By processing information into actionable insights, strategic analysis enables businesses to make informed decisions that align with their goals and values. This guide explores ten powerful strategic analysis tools that can empower you to make better decisions.
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Some pitfalls to avoid
- Don't fall into the trap is to be paralyzed by the multitude of possibilities. Keep it simple and focus on two major uncertainties.
- Don't believe that you have to choose one particular scenario and build your strategy around it. Scenario planning is not about choosing j...
Day 53:
- First, the Columbus Strategy: Always make a bold demand. Set your price high and do not waver.
- Second, in a dignified way, go after the highest person in the building.
- David and Goliath Strategy: By choosing a great opponent, you create the appearance of greatness.
- Th...
Selective Ignorance
When it comes to focus, knowing what to ignore is as important — if not more — than what to focus on.
Selective ignorance is not about lack of knowledge of information. Instead, it’s intentionally choosing subjects, facts, people, that you do not wish to know about.
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