After deciding on the future direction of the business, its vision and mission, aims and objectives, the business must now conduct strategic implementation.
Posts published in “Year: 2024”
Strategic choice refers to choosing the option to get where the business wants to be from previously identified opportunities.
Strategic Analysis refers to analyzing where the business is now by looking at its current situation, and where it aims to be in the future.
An informal organizational structure is the network of personal relationships and social connections that develop within every business.
A typical organizational chart is a diagrammatic representation of a business’s formal organizational structure in the form of a chart.
I have been managing our family finance a private wealth manager for over a decade. Here is a brief summary of our family finance.
The formal organizational structure is a deliberately planned structure of roles, authority relationships and communication channels in a business.
My wife and I have reached the status of financial independence for our family starting from 2022 as our FI Ratio was 100%.
Product Service System Models offer a function of a product rather than the physical product itself. Focus on needs of consumers.
When it comes to financial independence, you can afford to do what you like not what you have to, and work for something else than money.
Sharing Models rely on offering services where customers share products, resources or assets rather than owning such items for themselves.
Product Life Extension Models aim to extend the life cycle of their products in order to reduce the use of finite resources needed to produce them.
Resource Recovery Models focus on recovering and reusing resources from waste streams. This can be done through a variety of methods in a sustainable way.
The quest for ‘ultimate’ financial goals is a deeply personal one, as it will vary greatly depending on your individual values, aspirations and circumstances.
Circular Supply Models focus on replacing finite natural resources with renewable, recyclable and biodegradable resources in a sustainable way.
Circular Business Models (CBMs) focus on multiple-use resources and products which are reused and remain in the economy for as long as possible.
When thinking about preparing family financial plan, you first need to consider your family's specific situation. Every family is different.