IS IT YOUR PRICE?
In his book Competitive Advantage: Creating and Sustaining Superior Performance, Michael Porter one of the leading voices in Business Strategy, came up with a framework that suggests how companies can sustain their competitive edge in business. This framework also referred to Porters Generic Strategies identified three strategies organizations can use if they are to build sustainable competitive advantage. These strategies are Cost Leadership, Differentiation and Focus.
THE PARABLE OF ASSETS, LIABILITIES AND EQUITY.
A young man once asked his Father, what must I do to be a successful entrepreneur? His Father looked at him and with a big smile on his face then beckoned on him to take a seat. As both men sat, his Father told him a parable.
WHAT SMALL BUSINESSES CAN DO TO SURVIVE THEIR EARLY YEARS?
In part one of this article, I identified five of the many reasons why start-up’s, and SME’s fail. In this concluding part, I will like to focus on what small businesses can do to survive their early years and build lasting and sustainable businesses.
