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The Balanced Scorecard The Balanced Scorecard Robert S. Kaplan and David P. Norton developed the Balanced Scorecard. It was designed to more effectively turn strategic plans into action. The scorecard creates a way to measure performance in strategic terms. It is not ... [full story]

Using the Porter Model to Drive Value The Porter Model provides an industry view of the business. The strength of the model is that it identifies where a firm must improve its competitive position. This model forces you to identify your ... [full story]

Substitute Products Items that decrease sales of products within an industry are substitute products. For example, frozen yogurt is considered a substitute for ice cream. Sport utility vehicles (SUVs) can be considered a substitute product to the automobile. Substitutes can be ... [full story]

Bargaining Power of Buyers The ability of the buyer to negotiate the terms of sale significantly affects pricing and profits. As the customer becomes more powerful, downward pressure is exerted on pricing and profitability. Customer service begins to improve as industry ... [full story]

Bargaining Power of Suppliers High supplier bargaining power constrains market participants' ability to negotiate pricing, quality, and service. As supplier power increases, industry profit margins will decline because costs will increase. Companies are unable to pass price increases on to customers, ... [full story]