Disruptive innovation
Disruptive Innovation creates a new market and value proposition that displaces established market leading firms, products or services. Disruption and innovation are terms that are used a lot in business. However, true disruptive innovation is a dynamic force reshaping industries and challenging traditional business models. It’s not just about incremental improvements but rather a radical […]
Refurbished technology
Is buying refurbished technology a viable option for businesses? As society tries to embrace environmentally sustainable business practices, many firms are starting to consider the advantages of buying refurbished tech rather than always buying brand new products. A commitment to sustainability is increasingly important and businesses need to walk the talk. Opting for refurbished tech […]
Targeting underserviced markets
Identifying and targeting underserviced markets can be a game-changer. Underserviced markets are groups of customers or potential customers who have unmet or underserved needs, problems, or preferences in your industry. They may be overlooked, ignored, or underserved by your competitors, or they may be new or emerging segments that have not been addressed yet. Underserved […]
Managing key person risk
Managing key person risk should be an integral part of any well-rounded business strategy. Key person risk entails the potential disruption and uncertainty that can arise when an essential team member, often possessing distinctive skills, knowledge, or influence, is suddenly incapacitated and unable to contribute to the functioning of the business. Effectively managing key person […]
Experimental Marketing
Today’s customers want to buy experiences rather than just products. Customers are constantly being bombarded with marketing campaigns from different companies. As such, captivating the attention and securing the loyalty of consumers has become a real challenge. Experiential marketing can help you to cut through the noise and reach your target market. Experiential marketing transcends […]
Threads
How could the latest social media platform work for businesses? Threads is a new social media channel created by Meta Platforms (formerly known as Facebook) which was launched in July this year. Threads went live on both the Apple and Android app stores in 100 countries and signed up more than 100 million users in […]
Keeping pace with inflation
Strategies to manage the challenges of the current inflationary business environment. Inflation has resulted in businesses grappling with escalating production costs, dwindling purchasing power, and the urgent need for pricing strategy recalibration. Here are some strategies to help firms deal with inflation: Monitoring and projections Businesses should closely track key economic indicators and the effect […]
Analysing the competitive landscape
How to use Porter’s Five Forces model to assess the overall competitive landscape for your particular market. Porter’s Five Forces model is a widely used framework for analysing the competitive environment of a particular industry or business sector. Porter’s Five Forces are five separate factors that can impact business growth. The theory was developed by […]
The Metaverse
What is it and what do businesses need to be thinking about? The metaverse is an online virtual reality (VR) or augmented reality (AR) space where users can interact with a computer-generated environment and with other users in real-time. It is an interconnected digital universe that extends beyond individual VR or AR experiences, offering a […]
When and how to increase your prices
Is now a good time to increase your prices? Inflation has been running high for a while, wages are rising and supply chains are still catching up after the disruption of the pandemic. Many businesses are facing increased costs and many managers are considering how to increase prices in order to maintain profitability. However, there […]