KFC Globalization Strategy One of the secrets behind KFC’s global success is due to how it adapts its business to different countries and cultures while also standardizing other aspects of its operations at the same time. What this means is that the company standardizes some critical branding and operational aspects of the company, but carefully … Read more
Multidomestic Strategy Definition Multidomestic strategy is one of the approaches taken by companies operating in different countries, in which the company customizes the products, services, marketing efforts or other aspects of the business to better suit local variables in each of those markets. Hence, a multidomestic company is one which tries to customize its business … Read more
Analysis of the ClassPass Business Model The business model of ClassPass mainly revolves around charging a subscription fee to customers who then receive credits which can be redeemed at partnering health & fitness clubs, studios, gyms and salons. However, this is only one aspect of its business model – at the same time, the company … Read more
Multipoint Competition Definition and Meaning Multipoint competition is any situation in which different companies compete with one another across the same regions, markets, segments, or products. Often, a situation of multipoint competition occurs when there is some overlap in the core competencies, capabilities, and resources of different companies. The main implication of multipoint competition is … Read more
What is a Strategy Toolkit? A strategy toolkit is a collection of different strategy frameworks and tools which are used for developing strategy options and evaluating alternative strategy directions. While tools of internal and external analysis are sometimes seen as strategy frameworks, we need to make an important distinction. Most of these tools only help … Read more
To develop a strategic plan, there needs to be a systematic approach with many steps involved. It starts with matching strategic priorities on one hand and internal and external factors on the other. Based on this analysis, various strategic choices are likely to be identified. The strategy planner must then narrow down the choices to … Read more
Definition of Imposed Strategy An externally imposed strategy is when a company is forced to adopt a certain strategy in response to strong external factors in its business environment. In other words, this is a reactive strategy. Imposed Strategy Meaning Having to adopt an externally imposed strategy means that an organization does not have a … Read more
The meaning of synergy in strategic management contexts is the additional benefits which are gained due to complementary activities and resources that reinforce and enhance the effect of each other. This is because the interaction and combination of these individual parts lead to improved results which exceed what each could achieve individually. To express it … Read more
Strategy canvas is a tool which compares the performance of competitors on the critical success factors in an industry or market. This helps identify areas of innovation with less competition. It can also be understood better as a visual representation of the value proposition of other players in a market. This tool of competitor analysis … Read more
Internal Analysis Definition Internal analysis can be defined as a comprehensive assessment of the internal factors within an organization. While any examination of a company can technically be called an internal analysis, when used in a strategic management context, the term refers to the application of well-recognized tools of internal analysis such as SWOT analysis, … Read more