Strategic drivers of business are forces, both internal and external, that shape an organization’s business strategy. Strategies that fail to adapt to forces such as technological change, competition and regulations are recipes for disaster. By no means comprehensive, below we discuss eight such drivers, to set you on the right path: Organizational Effectiveness: Does the company
Many people who start their own business do not realize how much work and time will be involved. They fail to carry out any primary research and as a result become quickly overwhelmed. Perhaps the first question to ask yourself then is whether you are in fact ready to start your own business. Do you
There’s a great line in Alice in Wonderland when the Queen says, “Sometimes I think of 6 impossible things before breakfast.” I think you’ll agree that this has to be creativity at its best! As a small business owner this is an ideal you really need to strive for … but how on earth can
Have you invented the next big thing? Built a better mousetrap? If you invent or discover a new and useful “process, machine, manufacture, or composition thereof” you can apply for a federal patent to protect your invention from being used by others without your permission. Do you remember the first video arcade game, Pong? Invented
“Excellence is never an accident; it is always the result of high intention, sincere effort, intelligent direction, skillful execution and the vision to see obstacles as opportunities.” The above anonymous quote was displayed prominently in an office, where, oddly enough, it seemed to attract very little attention. In any case, it has made enough of
Here’s an interesting notion: Do you realize that there are mistakes you can make at various stages of your business’ growth that can be slowly killing it for months or even years if you don’t watch for them? Well, these mistakes do exist, and they are not just reserved for the rookie companies. Many working
You probably know the myth of innovation as a sudden flash of insight that comes from nowhere. We read about that “aha” moment, or that light bulb turning on in the mind of some inventor or innovator, and this is true to an extent. Einstein really did get flashes of insight while shaving in the
The Covid-19 pandemic forced many small businesses to become resourceful and innovative about how they conducted business. While we are all still on the road to recovery, some of the hybrid business models used to adapt that came from necessity may be here to stay. Below are four ways small businesses adapted in response to
You may know Mark Cuban as the Owner of the Mavericks, perhaps your exposure to him may be as a technology company billionaire, or you may be more familiar with him as an investor on the hit show Shark Tank, where entrepreneurs pitch their business ideas to a panel of investors in an attempt to
