A Rake Too Far: Optimal Platform Pricing Strategy. April 18, 2013: April 18, 2013: In a casino, the term “rake” refers to the commission that the house earns for operating a poker game.
With each hand, a small percentage of the pot is scraped off by the dealer, which in essence becomes the “revenue” for the casino. 14 Sources of Competitive Advantage. ©Partners Creating Wealth 2013 (Click here to go to the Source of Competitive Advantage that intrigues you most) Competitive advantage comes from many places beyond simply the product and service and below I have outlined 14 possibilities for advantage.
They are supported by considerable data, research and experience; the data sources are included in a bibliography below for your reference. Sources of competitive advantage lie all along the value chain based on Michael Porter’s seminal work, Competitive Advantage and famously depicted below. With so many options, how do you know the right competitive advantage for your business? Leadership: Sources of Competitive Advantage Here, I have replaced Michael Porter’s infrastructure with top management’s role, which inevitably cuts across departments or involves the external environment.
Externally-focused Strategies 1. 3. Internal Leadership Role5. Understanding of the customer and competitors that permeates the organization. 9. 4 Essential Pricing Strategy Tactics to Boost Revenue. 4 Essential Pricing Strategy Tactics to Boost Revenue Posted by Vivian Guo on Mon, Nov 26, 2012 @ 03:08 PM I remember my first microeconomics class.
The lesson was on supply and demand curves in a perfect market. I’ll spare you the yawn inducing details, but we were taught that a higher price correlated to lower supply and greater demand, and a lower price to the opposite. Yet, no matter the market, the point at which the two curves crossed was known as the equilibrium price, the perfect price point for that particular market. Making Hope a Business Strategy. Hope -- the belief that things could be better and that you can make them better -- can help companies prosper, says Shane J.
Lopez, Ph.D., a professor at the University of Kansas School of Business, Gallup senior scientist, and a leading researcher on hope. But first, leaders must understand what hope is and how to unleash its power in the workplace. It's hard to be successful without being hopeful. Hope is an active stance, says Lopez, author of the forthcoming book Making Hope Happen.
It helps people launch new businesses that thrive and dream up new products that sell. Make goals meaningful. Eight Models of Business Models, & Why They're Important. The term Business Model is one that gets thrown around a lot these days.
Even though it might sound like a buzzword to you, it’s important to understand what a business model is, and how they are useful. One of the confusing things about the business model concept is that there are a wide variety of models of business models, and it seems as though everyone that talks about them makes up a new one. Strategic Planning with Hoshin. Hoshin planning is a process that focuses organizational efforts on the few things necessary for success.
It is a planning process that allows an organization or team to plan and execute strategic, organizational breakthroughs. And it communicates all of this on a single page report. “The future should not be a vague concept and strategy should not be a monstrous task in which we take pride in complexity. Strategy can be simple.” Bradford, Duncan, and Tracy Key questions you will need to ask and answer. What do we need to do? Why Hoshin Works. It is vision drivenIt aligns the entire organization around a set of common breakthroughsIt links high level objects with low level activitiesIt provides a review system that is linked to implementationIt is adaptive and self-healing Advantages of Hoshin Planning.
Hoshin planning provides a process whereby everyone knows what direction to go. Step 1. What Killed Michael Porter's Monitor Group? The One Force That Really Matters. As Chocolate Is To Peanut Butter, Strategy Is To Tactics. I watched as Brad stared into his cup of coffee, frustrated and a little hurt.
His performance review had not gone the way he had hoped it would. In fact, it felt like a disaster. How strategists lead - McKinsey Quarterly - Strategy - Strategic Thinking. Seven years ago, I changed the focus of my strategy teaching at the Harvard Business School.
After instructing MBAs for most of the previous quarter-century, I began teaching the accomplished executives and entrepreneurs who participate in Harvard’s flagship programs for business owners and leaders. Shifting the center of my teaching to executive education changed the way I teach and write about strategy. I’ve been struck by how often executives, even experienced ones, get tripped up: they become so interested in the potential of new ventures, for example, that they underestimate harsh competitive realities or overlook how interrelated strategy and execution are. Publications The Evolution Of Strategy 01/03/2013. Last week I asked the question, “Will Big Data Replace Strategic Thinking?”
Many of you answered, with a ratio splitting approximately two for one on the side of thinking. But, said fellow Search Insider Ryan Deshazer, “Not so fast!