Management Archives

5 Different Types of Business Models to Consider

What makes a successful business model? What are the different types of business models? A successful business model is one that creates, and over time, builds upon a competitive advantage. In their book Business Model Generation, authors Osterwalder and Pigneur discuss five different types of business models: 1) unbundled, 2) long tail, 3) multi-sided platform, 4) free, and 5) open. We’ll take a look at the key elements of each of these formulas below.

Giving Feedback in the Workplace: How to Do It Right

Mastering the Art of Giving Feedback in the Workplace

Is giving feedback in the workplace important? How do you give feedback effectively? Giving feedback in the workplace is crucial to the ongoing development of employees. It helps employees build confidence and identify areas where they need to improve. Effective feedback is ignores the discomfort that comes with telling others they are not performing to the required standard. Read on to master the art of giving feedback in the workplace.

Business Model Canvas: Key Resources

What resources does your business deploy to create and deliver value to customers? What are the four main categories of a business’s key resources? Businesses’ key resources will typically fall into four categories: material, monetary, intellectual, and human. Typically, companies first identify the required resources to manufacture and distribute their services to customers. But there is an alternative way: some businesses use their resource limitations to inspire innovation. Keep reading to learn about Business Model Canvas’s key resources strategy.

Reasons Why New Products Fail (and How to Succeed)

What are the main reasons why new products fail? Does it mean that it’s a bad product? What could the creators have done differently? In his book Inspired: How to Create Tech Products Customers Love, Marty Cagan says that many new products tend to fail when they’re introduced in the market. However, this is often due to the product development process and not because of the product itself. Here are the top reasons why new products fail and how to avoid the common pitfalls.

6 Steps to Effective Problem Solving in the Workplace

Do you often solve problems as part of your job? Why is it important for a company to have a standard problem-solving roadmap for employees to follow? Problem-solving is a part of everyone’s job, no matter the role. Hence, it’s important to come up with a problem-solving process and ensure every employee knows it like the back of their hand. Here are six steps to effective problem solving in the workplace.

Funding a Social Cause: Nonprofit Business Models

Do nonprofits need a business model? What revenue models are most common amongst nonprofit and social cause organizations? Although nonprofit and social causes organizations do not seek to make profits in the conventional sense, they still need to have a business model to plan how they will meet their objectives and cover their expenses. According to business experts Osterwalder and Pigneur, there are two main nonprofit business models: 1) donor-supported organizations, and 2) organizations that balance profit with social and environmental impact. We’ll discuss both of these concepts below.

How to Optimize Sales Time Management

What role does time management play in sales? What are some things you can do to cut back on unnecessary activities that distract you from what matters most—driving sales? The first step to building a high-performing sales operation is effective time management. Implementing a time management system in your sales activities will enable you to extract the most productivity and value from your days. Here are some tips on cut back on unnecessary activities so you could spend that time driving your business’s sales.

Market Positioning: Strategies for Market Leaders

Does your business have a market positioning strategy? What path should you take to beat out the competition? In their book Positioning, Al Ries and Jack Trout discuss market positioning strategies for established market leaders, aspiring market leaders, and established leaders entering a new market. Regardless of your position now, there’s a strategy that fits your business. Keep reading to learn about these market positioning strategies.

The Leadership Challenge: Quotes From the Book

Are you looking for The Leadership Challenge quotes by Barry Posner and James Kouzes? What are some of the most noteworthy passages worth revisiting? In their book The Leadership Challenge, international bestselling authors and long-time research partners Barry Posner and James Kouzes discuss what good leadership entails in practice. Drawing from research findings from dozens of studies, they conceptualize the Five Principles of Exemplary Leadership: 1) model the way, 2) inspire a shared vision, 3) challenge the process, 4) enable others to act, and 5) encourage the heart. The following The Leadership Challenge quotes highlight the essence of Posner and

Business Model Generation: Book Review

What is Osterwalder and Pigneur’s book Business Model Generation about? What are the nine elements that make up a business model? In their book Business Model Generation, innovation experts Alexander Osterwalder and Yves Pigneur propose a framework for designing a successful, holistic business model. Co-created by 470 practitioners from across 45 countries, the template consists of nine elements, which can be combined in different ways to tailor-design a business model for any venture. This Business Model Generation book review takes a look at the book’s impact, authors’ backgrounds, and critical reception.