Define the Problem

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How You Define the Problem Determines Whether You Solve It. These brief descriptions of these innovations all focus primarily on the novel solution. The problem they solve seems obvious.

Typical stories of creativity and invention focus on finding novel ways to solve problems. James Dyson found a way to adapt the industrial cyclone to eliminate the bag in a vacuum cleaner. Pablo Picasso and Georges Braque developed cubism as a technique for including several views of a scene in the same painting. The desktop operating system developed at Xerox PARC replaced computer commands with a spatial user interface.

 

But framing innovations in this way makes creativity seem like a mystery. How could so many people have missed the solution to the problem for so long? And how in the world did the first person come up with that solution at all?

In fact, most people who come up with creative solutions to problems rely on a relatively straightforward method: finding a solution inside the collective memory of the people working on the problem. That is, someone working to solve the problem knows something that will help them find a solution — they just haven’t realized yet that they know it.

Sure, some people stumble on the answer. When Archimedes stepped into the bath and noticed the water level rise, he lucked into the solution for finding the volume of an ornately decorated crown. And others invest decades and millions (or even billions) of dollars into research and development (see drug companies). But tapping into the individual’s or group’s memory is one of the most cost-effective and repeatable problem-solving approaches.

Define the Problem

https://www.mjfgroup.biz/definetheproblem/stepstogrowthThe key to this method is to get the right information out of memory to solve the problem.

Let us help you to not only define the problem but put into place an implementation plan.

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A Simple Step By Step Sales And Marketing System That Anyone Can Apply To Their Business

https://www.mjfgroup.biz/A Simple Step By Step Sales And Marketing System That Anyone Can Apply To Their Business

At last! A Simple Step By Step Sales And Marketing System That Anyone Can Apply To Their Business – No Matter What Your Experience, No Matter What Product Or Service You Sell, And No Matter How Fierce The Competition Is…

“How To EXPLODE Your Sales And Profits, Get Customers By The Bucketful, And Keep Them Coming Back For More”https://www.mjfgroup.biz/definetheproblem/stepstogrowth

The Xtreme Business Program ™ is not the first program of its kind but this one has been modified with “Been There, Done That with a T-shirt” to prove it.   Some of our Clients have had 197% increase in sales growth in the past 3 years and we have testimonials to prove it.We act as your personal mentor and fast tracks you and your business to reach your goals and aspirations using this program.

We act as your personal mentor and fast tracks you and your business to reach your goals and aspirations using this program.

A Simple Step By Step Sales And Marketing System That Anyone Can Apply To Their Business

You, yes you, can do it when you follow this ‘paint-by-numbers’ Mentoring Program…

We have found it best to carry out a three-month mentoring program with you at R12,000 per month. Your ROI is incredible. We can work this out with you when you ask for an appointment,

https://www.mjfgroup.biz/xtreebusinesstrategiesA Simple Step By Step Sales And Marketing System That Anyone Can Apply To Their Business……

Should wish to receive the full overview, that gives away a few of the 133 secrets, and gives you full details how the program works and its cost, then use the contact form below. In the message, just give us your Company name, your position and the number of employees you employ.

Contact us.

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Different Types of Business Strategies

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Different Types of Business Strategies are available to any startup or a business.

Basic Approach to Strategic Planning

A critical review of past performance by the owners and management of a business and the preparation of a plan beyond normal budgetary horizons require a certain attitude of mind and predisposition. Some essential points which should to be observed during the review and planning process include the following:

  • Relate to the medium term i.e. 2/4 years
  • Be undertaken by owners/directors
  • Focus on matters of strategic importance
  • Be separated from day-to-day work
  • Be realistic, detached and critical
  • Distinguish between cause and effect
  • Be reviewed periodically
  • Be written down.

As the precursor to developing a strategic plan, it is desirable to clearly identify the current status, objectives and strategies of an existing business or the latest thinking in respect of a new venture. Correctly defined, these can be used as the basis for a critical examination to probe existing or perceived Strengths, Weaknesses, Threats and Opportunities. This then leads to strategy development covering the following issues discussed in more detail below:

  • Vision
  • Mission
  • Values
  • Objectives
  • Strategies
  • Goals
  • Programs

Strategic statements can be defined as broad indicators of the direction(s) in which a business should be driven in order to fulfil its vision/mission while taking realistic account of its resources, constraints and opportunities.

In the case of a start-up venture, organic and quantum approaches translate into soft or hard start-up strategies. An example of a soft start would be a software company which evolves from a part-time business into full-time service provider and then progresses into software products (classic “back room” start). Another example, would be an engineering company which starts in a shed and gradually moves into a proper premises (“garage” start).

Soft start strategies can be very effective as they allow entrepreneurs to learn the trade (and make mistakes) without incurring major, irrevocable (and maybe premature) commitments. Hard starts are obligatory where substantial investments (in R&D, market or assets) or resources (technology, manpower etc.) are needed from the outset. It may be possible to soften a hard start by renting (rather than buying) premises; leasing equipment (instead of purchasing); acquiring a franchise (in lieu of developing a new brand, systems etc.); entering into a joint venture; or subcontracting manufacturing, distribution, accountancy services and so on.

Before deciding on what type of strategy to adopt you will need to have the following statements if you are an existing company or you will need to work through what is posted here before you decide.

Different Types of Business Strategies

Note Well.

The preparation of a strategic plan is a multi-step process covering vision, mission, objectives, values, strategies, goals and programs you need to initiate to complete the strategy decide upon.

Vision.

 

 

Mission.

The nature of a business is often expressed in terms of its Mission which indicates the purposes of the business, for example, “to design, develop, manufacture and market specific product lines for sale on the basis of certain features to meet the identified needs of specified customer groups via certain distribution channels in particular geographic areas”. A statement along these lines indicates what the business is about and is infinitely clearer than saying, for instance, “we’re in electronics” or worse still, “we are in business to make money” (assuming that the business is not a mint !)

Peter Drucker says “Mission: Why you do what you do; the
organization’s reason for being, its
purpose. Says what, in the end, you want
to be remembered”

There are many tools that you can use to define your strategic position in your market,and what sort of strategy you should adopt.

One of them is the GE matrix. The GE matrix helps a strategic business unit evaluate its overall strength. Each product, brand, service, or potential product is mapped in this industry attractiveness/business strength space. The GE multi factoral was first developed by Mckinsey for General Electric in the 1970s.In order to use the GE Matrix you need to understand the market you are in and you must have a very good grasp of strategy.

I have modified the GE And the GE McKinsey graph as seen below.

I addition to giving you two points on a square block i have added what type of strategy best fits each quadrant. This has been developed by me over 3 decades of in company research, as Africa Director responsible for growth and development. The Group I worked for was massive as it had more than 136 companies in its stable.

You are asked to identify percentages in a range of questions and give an indication of your strategic ability.

When Completed you will get a Graph as shown here. Careful consideration is needed when compiling the answers.

https://www.mjfgroup.biz/gematrixamendedbymjfgroup

Click on this link to download the Free excel spreadsheet, which I modified to give You a better picture of what strategy you should follow. A Resulting graphic display will clearly tell you in which quadrant that you can

Different Types of Business Strategies.

Growth Strategy
Any growth strategy entails introducing new products or adding new features to existing products.

Sometimes, a small company may be forced to modify or increase its product line to keep up with competitors. Otherwise, customers may start using the new technology of a competitive company.

For example, cell phone companies are constantly adding new features or discovering new technology. Cell phone companies that do not keep up with consumer demand will not stay in business very long.

A small company may also adopt a growth strategy by finding a new market for its products. Sometimes, companies find new markets for their products by accident. For example, a small consumer soap manufacturer may discover through marketing research that industrial workers like its products. Hence, in addition to selling soap in retail stores, the company could package the soap in larger containers for factory and plant workers.

Product Differentiation Strategy
Small companies will often use a product differentiation strategy when they have a competitive advantage, such as superior quality or service. For example, a small manufacturer or air purifiers may set themselves apart from competitors with their superior engineering design. Obviously, companies use a product differentiation strategy to set themselves apart from key competitors. However, a product differentiation strategy can also help a company build brand loyalty, according to the article “Porter’s Generic Strategies” at QuickMBA.com.

Different Types of Business Strategies

Price-Skimming Strategy
A price-skimming strategy involves charging high prices for a product, particularly during the introductory phase. A small company will use a price-skimming strategy to quickly recover its production and advertising costs. However, there must be something special about the product for consumers to pay the exorbitant price. An example would be the introduction of a new technology. A small company may be the first to introduce a new type of solar panel. Because the company is the only one selling the product, customers that really want the solar panels may pay the higher price. One disadvantage of a price-skimming is that it tends to attract competition relatively quickly, according to the Small Business Administration. Enterprising individuals may see the profits the company is reaping and produce their own products, provided they have the technological know-how.

Acquisition Strategy
A small company with extra capital may use an acquisition strategy to gain a competitive advantage. An acquisition strategy entails purchasing another company, or one or more product lines of that company. For example, a small grocery retailer on the east coast may purchase a comparable grocery chain in the Midwest to expand its operations.

Please contact us so we an assist you with a complete strategy and corresponding tactics needed to achieve your strategy chosen.

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SAY OF THE DAY

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Our SAY OF THE DAY is “Difficulties mastered are opportunities won.” – Winston Churchill

For those of you who need to register, I urge you to register and take advantage of many Free offers in my site for Your Business.

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In line with this, we are offering a program that will knock Your socks off!

https://www.mjfgroup.biz/xtreebusinesstrategiesIt is called the Xtreme Business Program…..

Read on…..

SAY OF THE DAY

At last! A Simple Step By Step Sales And Marketing System That Anyone Can Apply To Their Business – No Matter What Your Experience, No Matter What Product Or Service You Sell, And No Matter How Fierce The Competition Is…

Wait there is more…….

“How To EXPLODE Your Sales And Profits, Get Customers By The Bucketful, And Keep Them Coming Back For More”

 

The Xtreme Business Program ™ is the first program of its kind that acts as your personal mentor and fast tracks you and your business to reach your goals and aspirations. You, yes you, can do it when you follow this ‘paint-by-numbers’ Program…I work with you for three months; Australia, United Kingdom and Sout Africa to get full control and watch your business rocket by as much as 179% in three years with a minimum 20% in the first year.

Say of the Day

So, if Your Business is filing contact me know.

Don’t wait for Your ship to sink.https://www.mjfgroup.biz/sayoftheday/shipsunk

Act now. And see Your business soar!

https://www.mjfgroup.biz/sayoftheday/winstonchurchill/xtremembusinessprogram

Contact Me.

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Business Improvement

Dear CEO/Managing Director, Executive Director we are creating this post to tell you that Business Improvement is at hand

Does your business suffer from:https"//www.mjfroup.biz/

  • declining market share,
  • no marketing strategy,
  • no sales plan or controls in place
  • slow manufacturing
  • the worst on time in full ratio in the industry
  • rising cost of sales due to poor procurement processes
  • inappropriate processes,
  • poorly trained staff,
  • sales slumping
  • inventory climbing
  • more and more obsolete inventory
  • poor accounting
  • not up to date with SARS requirements
  • no cash flow control
  • a horde of dissatisfied customers, and on and on and on.

Business Improvement

You have so many issues to attend to, your staff are all ‘so busy” they cant support you and if they had time would not be as competent as you would like them to be in order to support you.

In order to fix the problems mentioned above, we have our program called The Business Support for the CEO.

Our New Year is underway so don’t let your business become a tragedy.

Contact us.

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