As an entrepreneur and president of an engineering company, I've seen how difficult and elusive it is to get an advantage over your competitors. Many companies have started something new only to see it copied or substituted in short order. What is the "secret sauce" that companies like Apple, Southwest Airlines, and Starbucks have, and how... [Read More]| ProjectEngineer
Value Chain analysis is a process improvement methodology developed by Michael Porter of Harvard Business School in the 1980's. It is a part of the field of strategic analysis. The "value chain" refers to the process of creating value throughout each step of of the business chain. For example, An exploration company creates value by... [Read More]| ProjectEngineer
The Balanced Scorecard is a system for the implementation of corporate strategy. It is a performance measurement tool that helps an organization execute its strategies and turn them into measurable results "on the ground." In its practical form, a balanced scorecard is a 4-quadrant itemized list of key performance indicators (KPI's) that the organization strives... [Read More]| ProjectEngineer
A PEST Analysis is not a way to rid your office of undesirable rodents, although I suggest you take care of that first if it is a problem. Rather, it is strategic analysis technique which analyzes the external environment within which an organization operates. It is designed to give an organization a good overall picture... [Read More]| ProjectEngineer
Strategic planning involves the development of actions that support the achievement of a corporate goal. The corporate goals must be defined first, and the strategic plan becomes the "how to" manual to achieve the goals. Business schools make strategic planning more complicated than it is. If you understand these 8 tools, you've mostly mastered the... [Read More]| ProjectEngineer
Critical Success Factors, or CSF's, are the criteria that defines success. In project management, they are found in the project management plan and define what it means for the project to be successful. Time and Cost (deadlines and budgets) are almost always part of the CSF's, but most projects have other success criteria as well.... [Read More]| ProjectEngineer
In today's ultra-competitive business environment, strategic planning is more than ever a necessary tool to growing a successful business. Even large companies are not immune to sharp downturns and failed strategic plans. Strategic planning is a process that results in the development of a strategic plan (really!). The strategic planning model in use by businesses... [Read More]| ProjectEngineer
In August 1805, Emperor Napoleon fought what was arguably the most important battle of his military career. In a brilliant display of strategy, he devised a system of matching his strongest soldiers with the enemy's weakest, in a move that students in military colleges still study today as the Ulm Manoeuvre. What business lessons can... [Read More]| ProjectEngineer
Want to make smarter decisions in business, project management, or even your personal life? A SWOT Analysis is your go-to tool for gaining a competitive edge. By weighing your strengths against competitors’ weaknesses and evaluating opportunities versus threats, this method clarifies the best path forward. From portfolio managers choosing high-impact projects with limited budgets to... [Read More]| ProjectEngineer
A corporate goal is an specific, measurable objective toward which an organization channels its efforts. Goals support a vision or mission statement. In strategic planning, the establishment of corporate goals comes right after the development of corporate vision and mission statements. These documents lay the groundwork for determining the more specific goals that an organization... [Read More]| ProjectEngineer
In this article, we will take a leisurely stroll through the strategic planning process. This includes the model most used in textbooks and courses on corporate strategy. The strategic planning process consists of the following steps: Vision Statement Mission Statement Corporate Goals Corporate Strategy Metrics Vision Statement A vision statement is a statement of where the... [Read More]| ProjectEngineer
A strategic plan documents the methods by which an organization achieves its corporate goals. We at ProjectEngineer have developed the best free strategic planning template on the internet, and we offer it to you here as a free download ( | ). A strategic plan contains the following 10 key parts: Mission statement Corporate goals... [Read More]| ProjectEngineer
A SWOT Analysis is a simple but effective tool used to examine an organization's business prospects determine the strategy that an organization will employ to achieve its goals. It is normally plotted on a simple 2 x 2 matrix. Scroll down for an example. SWOT stands for: Strengths Weaknesses Opportunities Threats Strengths This refers to... [Read More]| ProjectEngineer