Scenario-based strategic planning is a process that involves creating and evaluating different scenarios of the future to determine the best strategies to pursue in order to achieve an organization’s goals. This type of planning takes into account various factors such as market trends, competitor behavior, economic conditions, and technological advancements to develop multiple possible outcomes….
A Minimum Viable Product (MVP) is a development technique in which the products have just enough features to satisfy early adopters and to provide feedback for the final product development. In other words, a minimum viable product is an initial version of the product in question that can be released to consumers in order to…
As the business word is exponentially increasing in size and complexity, it becomes harder and harder to deal with the challenges that come along with expansion. A model that addresses this model is Greiner’s model and it looks into how companies can grow and overcome the challenges that they face as they evolve as a…
Influence is the power to persuade people to do what you want or agree with you willingly. The scope and extent one can influence other people hinges upon many variables such as the respective people’s attitude and approach and the whole situation they are in. Baker’s 4 strategies of influence look into four persuasion methods…
The purchase of a product or service is much more than the single second that the consumer grabs a product from the shelve. The customer goes through a whole process that shapes his experience in regards to the product or service. From the company’s perspective, examining the customer experience journey can provide significant insights on…
The RATER model has emerged from the SERVQUAL model and it is used by businesses to assess the expectations that consumers have when they buy their products or services. The RATER model looks into particular areas that are deemed important and highly influential on forming customers’ expectations. RATER stands for Reliability, Assurance, Tangibles, Empathy and…
Origins The Kanban methodology has its roots back to the 1940s, at the time when Toyota introduced the “Just-in-time” production into their manufacturing regime. During then, Toyota started employing a pull system which was based on consumer demand in contrast with a push system that throws products and services into the marketplace. This was also…
As trends come and go, companies needs to be agile enough to adapt to the new situations and gain competitive advantage. This is also the case when it comes to long- existed marketing models that have been developed several decades ago. Although the principles on which they were founded still apply in today’s world, they…
Product quality is one of the most important factors for a business trying to gain and sustain competitive advantage. Garvin’s 8 dimensions of quality model is used to assess and evaluate a product’s quality according to 8 different factors which are discussed below. The model was developed by David Garvin in 1987 and has been…
One of the most widely discussed models in the area of quality improvement is Crosby’s 14 steps for improvement. The model was developed by the quality guru Philip Crosby and promises process improvement over the long term. The 14 Steps to Quality Improvement are as follows: Step 1: Management Commitment First of all, management must…