The McKinsey 7S Model
The McKinsey 7S Model is an organizational tool that analyzes firms through seven interconnected factors: Structure, Strategy, Systems, Shared Values, Skills, Style, and Staff. This model was developed in the early 1980s by Tom Peters and Robert Waterman, consultants at McKinsey & Company. It is a valuable tool for organizat
Maslow’s Hierarchy of Needs
Introduction to Maslow’s Hierarchy of Needs Maslow’s Hierarchy of Needs is a psychological theory proposed by Abraham Maslow in 1943. It is often depicted as a pyramid, illustrating a sequence of human needs from the most basic to more complex ones. The theory suggests that higher needs in the hierarchy emerge when p
Marketing Funnel
Introduction to the Marketing Funnel The marketing funnel is a model that illustrates the theoretical customer journey towards the purchase of a product or service. It helps businesses understand and strategize the process of turning prospects into customers by mapping out different stages of the buyer’s journey. Stages of
Market Sweet Spot
Introduction to Market Sweet Spot The concept of a “Market Sweet Spot” refers to the ideal market segment or position where a company can achieve the most significant competitive advantage and customer value. It’s where a business’s core competencies and product offerings align perfectly with customer nee
Market Sizing
Introduction to Market Sizing Market Sizing is the process of estimating the potential size of a market, either in volume or value terms. It’s a crucial component of strategic planning, particularly for businesses exploring new markets, launching new products, or seeking investment. Understanding the size of the market hel
Market Entry Strategies
Introduction to Market Entry Strategies Market entry strategies are crucial for businesses looking to expand into new markets. These strategies determine how a company will deliver its products or services to a new market, considering factors like competition, consumer behavior, local regulations, and market dynamics. Key Market
Market Opportunity Analysis
Introduction to Market Opportunity Analysis Market Opportunity Analysis is a vital strategic exercise that helps businesses identify and evaluate potential market opportunities. This process is crucial for companies looking to launch new products, enter new markets, or expand existing product lines. It involves a deep understand
Liability of Foreignness
Introduction to Liability of Foreignness Liability of foreignness refers to the inherent disadvantages that foreign firms experience in host countries compared to domestic firms. This concept, central in international business studies, suggests that companies operating outside their home country face additional costs and challen
Lewin’s Force Field Analysis
Introduction to Lewin’s Force Field Analysis Lewin’s Force Field Analysis is a strategic tool developed by Kurt Lewin, a pioneering psychologist, in the 1940s. It is used to understand what factors are involved in making a change successful, by analyzing forces that drive change and those that resist it. This tool is
Kurt Lewin’s Change Model
Introduction to Kurt Lewin’s Change Model Kurt Lewin’s Change Model, developed by social psychologist Kurt Lewin in the 1940s, is a fundamental theory in the field of organizational change. It describes the process of change in three key stages: Unfreezing, Changing, and Refreezing. This model is acclaimed for its si