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Having a strategy in today’s competitive market can dictate the success of a business. Many companies have a business model, which may differ from one company to another. Porter’s business model is used by strategy consultants in order to study the threats and advantages a company has in its respective industry.
Individual responsibility comes together with an organizational culture that is based on values such as reliability, transparency and autonomy. These values imply open mindedness and open communication with employees, trusting them that they will successfully manage and finalize their projects without the need for constant monitoring and control from the management’s side.
The rise of social media and social networking brought about many changes in the way business is done nowadays, and it has definitely helped entrepreneurs grow their business. Among these changes, a noteworthy emerging phenomenon is crowdfunding.
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