As more large public companies such as Borders and Blockbuster file for bankruptcy, it’s apparent that Chinese general and philosopher Sun Tzu’s words nearly 3,000 years ago still haven’t sunk in: If you know your enemies and know yourself, you will not be imperiled in a hundred battles. According to research by Paul Carroll and Chunka Mui, the number one cause of bankruptcy is bad strategy. Inherent in bad strategy is ignorance of your… READ MORE

The two terms “strategy” and “tactics” are misused, confused and abused in many different ways. The difference between strategy and tactics is often described as “strategy is long-term and tactics are short-term.” While the two terms may adopt these characteristics at certain times, this is an inaccurate and incomplete way of explaining their meanings. Strategy and tactics are both how you will achieve your goals and objectives. Strategy is… READ MORE