Business Archives

The Pros and Cons of Pay Transparency

What’s behind the growing trend of US states passing pay transparency legislation? Are the laws working as intended? What’s the future of pay transparency? A growing number of US states are implementing pay transparency laws, which require employers to list salary ranges on job postings. Though the laws have led to some improvements for workers and employers, they’ve also created some unintended, undesirable consequences. Below we’ll take a look at the pros and cons of pay transparency.

Competitive Strategy by Michael Porter: Book Overview

What is Competitive Strategy by Michael Porter about? Do you want a competitive edge in the business world? In Competitive Strategy, Michael Porter demonstrates how to get your business in the lead. Doing so requires a certain level of competitiveness that puts your business first. Read below for a brief overview of Competitive Strategy.

The 4 Basic Principles of Marketing in the Modern Age (Seth Godin)

Who makes up your smallest viable market? What do they truly want and need? Should you adjust your product story over time? In This Is Marketing, Seth Godin says that old marketing techniques no longer work. He outlines his guiding principles of marketing in the modern age: create something of value, focus on your smallest viable market, match your story to the story your audience tells themselves, and leverage word of mouth. Continue reading to learn about each of these four basic principles of marketing.

The 5 Factors Affecting the Market’s Competitiveness

What are the factors affecting the market? How does understanding these factors give you a competitive advantage? Five factors influence a market’s competitiveness and profit potential, according to Competitive Strategy by Michael Porter. Although the book was released in 1980, it’s still relevant today. Here are the factors that you need to pay attention to when you enter the market.

The Influence of Suppliers on Marketing & Business Strategies

What’s the role of suppliers in marketing? How much influence do suppliers have over pricing? In Competitive Strategy, Michael Porter explains that suppliers with substantial influence can dictate pricing, product quality, and availability. For example, in the diamond industry, a few large diamond mining companies exert significant influence over jewelry manufacturers and vendors by dictating prices, setting quality standards, and restricting sales. Let’s look at the number of conditions that enhance supplier influence over a market.

Why Beta Testing Video Games Is a Must for Studios

Why is beta testing video games important? How could better beta testing have helped Diablo 3? Beta testing is when individuals are hired to play video games before they’re released. This is a crucial aspect of the game development process because the players may find bugs and glitches that developers missed. Continue reading to learn more about why beta testing is essential for a good game.

How Food Waste in Supermarkets Is Getting Out of Hand

Why is supermarket food waste getting out of hand? What can be done to prevent it? US grocery stores throw out 123 million pounds of food each day. Advocates hope the newly reintroduced Food Date Labeling Act will help remedy part of the food waste problem. But time will tell whether the bipartisan-backed bill can withstand objections from the food industry. Below we’ll take a look at the history of supermarket food waste and possible remedies for the situation.

The Importance of Consumers & How They Shape the Market

Why is the importance of consumers for a business strategy? What influence do consumers have over a market? According to Competitive Strategy by Michael Porter, influential buyers can impact what businesses offer, their pricing strategies, as well as overall market demand for products and services. For example, in the smartphone market, buyers exert significant influence due to their ability to readily switch brands. Here are the multiple conditions that increase buyer influence over a market.

Competitive Market Research: 4 Areas of Companies to Study

How do you perform competitive market research? How can studying other businesses improve yours? According to Michael Porter’s book Competitive Strategy, researching your competitors will benefit you in two ways. First, it will enable you to create effective countermoves to their strategies. Second, it will help you anticipate their responses to your strategic initiatives. Let’s explore the insights you’ll gain by performing competitive market research.

The Difficulties of Adapting to New Video Game Technology

How has video game technology changed over the years? How do game developers navigate these changes? These days, the best video games look so realistic that they could easily be mistaken for a movie. This is thanks to the always-evolving video game technology that developers are forced to keep up with every year. Let’s look at how developers adapt to new technological advancements in the video game industry.