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Showing posts with the label Business Economics

How to Create the Right Business Strategy for Your Startup

All businesses have goals. But goals are meaningless if you do not have a well-defined plan set in place detailing how you will achieve them.   And that’s the job of a business strategy. However, a business strategy is not as simple as you may think. If you want a plan that you can stick with through till the end, the strategy has to go to the nitty-gritty of things.   In this article, I will show you how to create a business strategy that is suited to your own organization while at the same time, making you aware of some of the conceptual issues and future problems that may arise when you are creating or implementing a business strategy.   And, if you need any help in formulating your business strategy,  book a free consultation with us .  We help startups formulate their business strategy and even provide a free consultation in that regard! Why You Need to Have a Business Strategy If the business strategy is not detailed or does not keep individuals accountable, it is bound t

What is Porter's Five Forces Model (And Why Your Business Needs It)

It is advisable for any entrepreneur, that before you venture into a business, you should test the waters first. The key to this advice is blue ocean thinking. You don’t want to fight large corporations when you are executing a business idea.   Instead you want to find something that is very innovative and profitable and serves a customer problem that others have not thought of yet.   And here’s where the Porter’s Five Forces Model and Analysis comes into play. The Porter’s Five Forces Model is basically a market research tool. It is an analytical took wherein you consider five forces to find whether the market that you are about to enter into, is profitable and non-competitive or not. The Five Forces of the Porter’s Five Forces Analysis The five forces that you must watch out for, are – The rivals in the industry, The threat of entry of new players in the market, The bargaining power of suppliers, The bargaining power of buyers, and The threat of substitutes. In this

Legal Troubles for Platform Business Models

Author Bio: Manan Daga is a law student at West Bengal National University of Juridical Sciences, one of the most premier law institutes in India.  You can connect with him on LinkedIn . Platform business models have become an integral part of start-ups, established businesses, and every other business line. They are growing all around us, from Facebook to Uber to even Tinder. The convenience it offers in setting up the business has made it an attractive option for many young, and even many experienced entrepreneurs. It becomes pertinent to delve into the legal aspect associated with such platform business models. In this paper, a brief introduction of the platform business model is given. Then, the legal troubles existing for these businesses are addressed. However, there are many kinds of platform business models, and it can be challenging to address each one’s legal troubles. So, a general analysis is given to cover all the platform business models. Apart from this, a d

What is a Business Model? And, How Yours Can be Revolutionary

Article by Eshani Jain . What is a business model? The term business model caught the buzz only a while ago but has been in use since ages. Business models have only recently, become so sophisticated. However the importance of a business model is only increasing day by day. Think – Uber. How does the world’s largest taxi company which doesn’t have to own a single taxi encounter losses each year? Well, the answer lies in its business model. Why did people keep investing at Amazon even after it kept on getting losses years on end? The answer’s again in its business model. And, why do some companies like Kodak get wiped out from the competition of consumer cameras even though it practically invented both the chemical and digital camera!? Yet again, the answer is in the company failing to understand its business model. It may seem hard to comprehend all of this right now, especially since you may not know much about the term, but let’s keep this in the back of our hea