The World's Best Book Summaries
What is competition in business? You might be thinking about it too narrowly as a vicious game of winner-takes-all. But business competition can be more clever and healthy – multiple winners can win. Find out how below.
What is the bargaining power of suppliers? Do you need it to form a business strategy? Your suppliers consist of any providers with direct input into your product, including distribution channels, marketing, and labor. How much power they have affects your competitive position and your business expenses. Learn more about how to understand the strength of your suppliers.
What is the bargaining power of buyers in Michael Porter’s 5 forces? How can it help you develop a business strategy? The bargaining power of buyers is determined by the people who pay for your product. How strong of an influence they have determines how much you can charge for your products. The more power your buyers have, the less powerful your strategic position.
Do you know how to do an industry analysis using Michael Porter’s five forces model? Here’s how you can do your own industry analysis in 5 simple steps. This will help you understand what industries are attractive or not for investment, and how well a company will fare in the industry.
Zara is one of the most successful clothing companies of all time. What exactly does it do to succeed? Learn more in Michael Porter’s case study of Zara. We’ll discuss how Zara’s unique choice of activities gives it such a large advantage in getting fast fashion to its stores in record time.
What do modern technology and globalization have to do with each other? Why do they matter for startups? Technology and globalization have been on the forefront of many peoples’ minds for years. Some are worried about technology and globalization—for others, it’s an opportunity. See why.
What is destructive competition? How does it hurt businesses? Destructive competition is unhealthy for businesses and consumers. Often, common wisdom compares business to fighting or war, which doesn’t have to be the case. Find out why destructive competition is harmful, and what you can do about it in your startup.
What was the dot-com bubble, and how did it lead to Silicon Valley as we know it today? What can it teach us about startups? The dot-com bubble refers to a period in the 1990s where tech companies experienced great prosperity. Due to several circumstances, the dot-com bubble burst. In Zero to One, Peter Thiel explains what we can learn from this.
What is a perfect competition market structure? Does it really exist? Perfect competition market structure is the idea that all businesses sell the same product or service, without any clear advantages. Peter Thiel argues that perfect competition market structure can’t exist, and uses its nonexistence to make a case for monopolies.
What are long-term profits, and why do they matter? How do you earn long-term profits? While short-term profits are exciting, long-term profits are the way to go. You can create long-term profits by building plans for the future into your startup strategy.