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Showing posts with the label strategy

What is Strategic Advantage

In today's competitive marketplace, achieving a strategic advantage is imperative to success.  Whether you are an individual or company with the goal of moving up the ranks in your industry, keeping pace with competitors, or just maintaining stability in your current situation, it is important to be aware of what sets you apart from others.  A mental model that can help with this task is called "strategic advantage". This gives one a better understanding of how they position themselves in the marketplace and helps them recognize where their strengths lie.  It also allows for a more effective way to target markets and customers by using something unique and special about themselves as well as giving them insight into potential future challenges. Strategic advantage is something unique and special about you. It makes your business or brand stand out from others. For example, if you are a company that sells healthy food, then you can use your "healthy" as a strateg

The Art of Business

Business and art are indivisible, for they both involve the act of making. The two are different in that a business must be profitable to survive but an artwork need not be valued by anyone besides the artist to exist.    A successful business is one that is able to make a profit (create value) while still offering products or services worth purchasing by its consumers.   Some people think that business is not an art because it does not possess the expressiveness of art. Business, in essence, is a system for making money.   But that is a very limited view of business. A business is not just a system for making money. Although it must figure out how to do that.    A business is a group of people inspired by an idea. Using raw materials and resources as inputs, they aim to create products and services that would delight their customers.    By bringing more art into business, leaders can bring the beauty and balance of art and creativity to the rational and strategic world of business.