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research-on-strategic-problem-of-companies

What research reveals about most companies’ strategic problems

Every business leader and every executive in the strategy room understands the importance of strategy in achieving the company’s goals. However, despite the prevalence of strategic planning, many companies still struggle to create and execute an effective strategy. Research has identified several common problems companies face when developing and implementing strategic plans. Some of the…

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dealing-with-price-sensitive-customers

Dealing with Price-Sensitive Customers: Strategies for Success

Introduction Price-sensitive customers are mainly concerned with the cost of products and services, often prioritizing price over other factors when purchasing (Monroe, 2003). Businesses must successfully manage such customers if they want to maintain profitability and customer satisfaction. In this article, we will explore strategies for effectively dealing with price-sensitive customers, focusing on understanding their…

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patterns-of-economic-recession

The patterns of an economic recession

An economic recession is a period of a significant decline in economic activity, typically lasting at least six months. It is characterized by decreased Gross Domestic Product (GDP), employment, and consumer spending. Recessions can significantly impact households and businesses, so understanding the patterns of economic recessions is essential for policymakers and investors. In this article,…

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defining-business-strategy

Defining business strategy

Business strategy as a term is frequently used in the world of commerce, yet its definition can be pretty elusive. Essentially, business strategy refers to a company’s plan of action to achieve its long-term goals and objectives. It involves the allocation of resources, the identification of key strengths and weaknesses, and the implementation of tactics…

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irrational-principles-of-behavioral-psychology

Embracing the Irrational: Principles of Behavioral Economics

Introduction Behavioral economics is an interdisciplinary field that combines insights from psychology and economics to understand human decision-making better. Contrary to the traditional economic model, which assumes that individuals are rational and utility-maximizing, behavioral economics considers the cognitive biases and heuristics that can lead to suboptimal decision-making (Mullainathan & Thaler, 2000). This article will explore…

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