People say organizations should have Mission statement, Vision Statement, etc. I say everything boils down to only one word - Purpose. To better understand these things, I took a small example of a person who wants to shift his career from IT to Marketing. Let us see these things from his perspective: MISSION - Why does …
Tag: Porter
Porter’s five forces and value-chain analysis
Michael Porter provided a framework that models an industry as being influenced by five forces. The strategic business manager seeking to develop an edge over rival firms can use this model to better understand the industry context in which the firm operates. The five forces of competition according to Porter are: - Threat of substitutes …
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