AI Strategy, Competitive Advantage, and Business Model Innovation
The Necessity of AI Strategy and the Exponential Gap
AI strategy is critical for companies today because it determines their capacity to navigate the exponential age and dictates whether they can achieve competitive growth.
The exponential gap refers to the significant difference between traditional companies that grow linearly and high-performing companies that achieve exponential growth, driven primarily by the adoption of AI. To close this gap and remain competitive, companies must undergo a digital
Read MoreBusiness Strategy: Value Chain, Five Forces & E-commerce
What Is Porter’s Value Chain Model?
It is a strategic business tool introduced by Michael Porter.
It helps a company analyze its internal activities to see how it creates value for its customers.
The “value” is the amount customers are willing to pay for a product or service.
The goal is to identify activities where the company can reduce costs or add more value (differentiation) to gain a competitive advantage.
The model splits a company’s activities into two categories: Primary Activities and Support
Understanding Business Ventures: Risks, Rewards, and Creative Techniques
Defining Entrepreneurship
Entrepreneurship is the process of designing, launching, and managing a new business venture that typically involves innovation, risk-taking, and the goal of achieving financial and social value.
At its core, it is the ability and willingness to identify market opportunities, organize the necessary resources (capital, labor, technology), and overcome challenges to create a new product, service, or process that addresses a market need. The entrepreneur is the individual who
Read MoreCore Pillars of European Union Governance
Common Agricultural Policy (CAP)
The Common Agricultural Policy (CAP) is the EU’s main policy for agriculture. Its purpose is to ensure Europe has a stable and safe food supply. It provides financial support to farmers so they can continue producing food even when market prices decrease or when conditions are difficult. The policy also encourages farmers to:
- Use environmentally friendly methods
- Protect the countryside
- Take care of animals
In recent years, the CAP has focused more on sustainability,
Read MoreEssential Human Resource Management Concepts and Functions
1. Human Resource Management (HRM) – Introduction
Human Resource Management (HRM) is the strategic approach to managing people effectively in an organization to achieve organizational goals and improve employee performance.
Definition
HRM is concerned with recruitment, development, motivation, and maintenance of human resources in an organization.
Objectives of HRM
- To ensure optimum utilization of human resources
- To improve employee efficiency and productivity
- To maintain healthy industrial relations
- To
Project Appraisal Methods and Business Viability Assessment
Project Appraisal Techniques and Business Viability
Project appraisal techniques are systematic methods used to evaluate the economic, financial, technical, and operational viability of a proposed investment project. They are primarily used to determine whether a project will generate adequate returns to justify the initial capital outlay and to select the best option among competing alternatives.
The techniques are broadly categorized into two main groups based on whether they account for the Time
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