Implementing a strategic change may come across as daunting and yet necessary in this current economic climate. This article seeks to address the actions managers should take when implementing a strategic change. There are 6 key steps that you can consider during the implementation process, as recommended by Harvard Business
What makes a business digital? Most businesses have an aspect of digitalization, from their product offering to their generation of new customers. However, it is usually a combination, not the sole existence of these aspects, that truly make a business model digital. You can sell digital products online but that
Raised a seed round? Besides the obvious benefit – funding, what you get is the implicit confirmation on the potential of your business idea and the momentum to keep venturing forward. A seed round is meant to supply a start-up with sufficient capital to support product development and initial market
With the Covid-19 Pandemic persisting towards the last quarter of 2020, uncertainties cloud the pace of recovery. Businesses can use this as an opportunity to re-evaluate their budgeting processes. What is the zero-based budgeting approach? Instead of building incremental budgets on last year’s actuals (traditional approach), you would be building
What is Enterprise Development Grant (EDG)? With the onset of Covid-19 and its impact on catalysing businesses towards digitalisation, many companies must adopt technology and innovate their processes to survive. Thankfully, companies can receive aid in doing so. The Enterprise Development Grant (EDG) is one such scheme that seeks to
Churn can be measured either in terms of lost customers (customer churn rate) or lost revenue (revenue churn rate). The customer churn is the rate at which customers stop doing business with an entity, while the revenue churn is the rate at which a company loses revenue as a result
