A business model describes how an organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The process of business model construction and modification is also called business model innovation and forms a part of business strategy.
In business and engineering, product development or new product development covers the complete process of bringing a new product to market, renewing an existing product and introducing a product in a new market. A central aspect of NPD is product design, along with various business considerations. New product development is described broadly as the transformation of a market opportunity into a product available for sale. The products developed by an organisation provide the means for it to generate income. For many technology-intensive firms their approach is based on exploiting technological innovation in a rapidly changing market.
Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors. It is different from the concept of brand awareness. In order to position products or brands, companies may emphasize the distinguishing features of their brand or they may try to create a suitable image through the marketing mix. Once a brand has achieved a strong position, it can become difficult to reposition it. To effectively position a brand and create a lasting brand memory, brands need to be able to connect to consumers in an authentic way, creating a brand persona usually helps build this sort of connection.
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback loop to monitor execution and to inform the next round of planning.
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.
In statistics and business, a long tail of some distributions of numbers is the portion of the distribution having many occurrences far from the "head" or central part of the distribution. The distribution could involve popularities, random numbers of occurrences of events with various probabilities, etc. The term is often used loosely, with no definition or an arbitrary definition, but precise definitions are possible.
Blue Ocean Strategy is a book published in 2004 written by W. Chan Kim and Renée Mauborgne, professors at INSEAD, and the name of the marketing theory detailed on the book.
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity, is a measure for an organisation or company, a process, an industry, or a country.
A core product or flagship product is a company's primary promotion, service or product that can be purchased by a consumer. Core products may be integrated into end products, either by the company producing the core product or by other companies to which the core product is sold.
Marketing effectiveness is the measure of how effective a given marketer's go to market strategy is toward meeting the goal of maximizing their spending to achieve positive results in both the short- and long-term. It is also related to marketing ROI and return on marketing investment (ROMI). In today's competitive business environment, effective marketing strategies play a pivotal role in promoting products or services to target audiences. The advent of digital platforms has further intensified competition among businesses, making it imperative for companies to employ innovative and impactful marketing techniques. This essay examines how various types of advertising methods can be utilized effectively to reach out to potential consumers
In marketing, a company’s value proposition is the full mix of benefits or economic value which it promises to deliver to the current and future customers who will buy their products and/or services. It is part of a company's overall marketing strategy which differentiates its brand and fully positions it in the market. A value proposition can apply to an entire organization, parts thereof, customer accounts, or products and services.
Knowledge entrepreneurship describes the ability to recognize or create an opportunity and take action aimed at realizing an innovative knowledge practice or product. Knowledge entrepreneurship is different from 'traditional' economic entrepreneurship in that it does not aim at the realization of monetary profit but focuses on opportunities to improve production (research) and knowledge rather than maximizing monetary profit. It has been argued that knowledge entrepreneurship is the most suitable form of entrepreneurship for not-for-profit educators, researchers and educational institutions.
University spin-offs are companies that transform technological inventions developed from university research that are likely to remain unexploited otherwise. They are a subcategory of research spin-offs. Prominent examples of university spin-offs are Genentech, Crucell, Lycos and Plastic Logic. In most countries, universities can claim the intellectual property (IP) rights on technologies developed in their laboratories. In the United States, the Bayh–Dole Act permits universities to pursue ownership of inventions made by researchers at their institutions using funding from the federal government, where previously federal research funding contracts and grants obligated inventors to assign the resulting IP to the government. This IP typically draws on patents or, in exceptional cases, copyrights. Therefore, the process of establishing the spin-off as a new corporation involves transferring the IP to the new corporation or giving the latter a license on this IP. Most research universities now have Technology Licensing Offices (TLOs) to facilitate and pursue such opportunities.
The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses is a book by Eric Ries describing his proposed lean startup strategy for startup companies.
Scott D. Anthony is an author and senior partner at growth strategy consulting firm Innosight.
Marty Neumeier is an American author and speaker who writes about brand, design, innovation and creativity. He is currently Director of CEO Branding for Liquid Agency, a branding agency in San Jose, California.
Salim Ismail is an Indo-Canadian serial entrepreneur, angel investor, author, speaker, and technology strategist. He is the Founding Executive Director of Singularity University and lead author of Exponential Organizations. In March 2017 he was named to the board of the XPRIZE Foundation.
John Julius Sviokla is an author and a principal and US Advisory Innovation Leader with PricewaterhouseCoopers (PwC). He also serves on PwC's Advisory Leadership Group, the Global Thought Leadership Council, and leads The Exchange — an ongoing think tank for PwC clients and business leaders. Previously, he served as Vice Chairman of the Board and Chief Innovation Officer at Diamond Management Consultants (NASDAQ:DTPI).
Hirotaka Takeuchi is a professor of management practice in the Strategy Unit at Harvard Business School. He co-authored The New New Product Development Game which influenced the development of the Scrum framework.
Soren Marcus Kaplan is an author, consultant, and speaker on the subject of innovation and innovation culture in organizations. He is an Affiliate at the Center for Effective Organizations at the University of Southern California's Marshall School of Business, founder of the consulting firm InnovationPoint, co-founder of the software company Praxie.com, and is a columnist for the Innovate column of Inc. Magazine.
