What is a business strategy?
What are the generic strategies for business plans?
How to recognize your competitive advantage?
What is a "Blue Ocean Strategy"?
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10. Quality: Can you provide higher quality than
competing businesses?
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11. The Business Plan: Strategy
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12. Price: Can you offer a lower price on a
sustained basis than your competition?
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13. The Business Plan: Strategy
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14. Location: Can you find a more convenient location
for customers?
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15. Selection: Can you provide a wider range of
choices?
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16. The Business Plan: Strategy
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17. The Business Plan: Strategy
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18. Service: Can you provide better,
more personalized customer
service?
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19. The Business Plan: Strategy
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20. The Business Plan: Strategy
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21. Speed/Turnaround: Can you deliver your product
or service more quickly?
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22. The Business Plan: Strategy
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23. Unique Selling Proposition (USP): What
features/benefits set your business apart from its
competition?
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24. The Business Plan: Strategy
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25. The Business Plan: Strategy
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26. The Business Plan: Strategy
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27. Be ware that pricing may define what your product
is for the customer!
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28. The Business Plan: Strategy
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29. The Business Plan: Strategy
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30. Blue Ocean Strategy
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31. The Business Plan: Strategy
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32. Assignment!
●
●
●
●
Five different business in your neighborhood
that provide similar services and/or products
Identify the advantages each have over the
others, if any.
Propose different changes in the business
strategy of each to create USP
Imagine a new business entering that field, is
their a blue ocean for it?
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33. References
●
●
Entrepreneurship and Small Business
Management, 1/e, Steve Mariotti and Caroline
Glackin, 2012, Pearson Education
Effective Small Business Management, 10/e,
Norman M. Scarborough, Prentice Hall, 2011
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