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Research Paper: Social Media Peer Interaction & Its Impact On Travel Planning

As early as in 2006 it was argued that social media started replacing traditional  sources of information (Jepsen, 2006). Later, it has been supported that social media might influence the buying behaviour process; at least as described in Inputs-Processing-Response models (Constantinides& Fountain, 2008). Moreover, De Valck, Van Bruggen, &Wierenga (2009) suggested that virtual communities are becoming important networks of consumer knowledge that influence consumer behaviour. Continue reading

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What is strategy? – Case Studies of Successful and Failed Strategies

What is a strategy?

Term strategy is quite loosely used in industry and even in real life. As defined by Michael Porter in 1996 (Porter, 1996) that operational effectiveness, total quality management, benchmarking, re-engineering etc. is not a strategy. Similarly, the idea of doing something different in a situation is a simple trick but not a strategy. The argument is based on the logic that these steps or activities, though provided gains to the firm in short run but could be easily imitated by the competitors hence rarely lead to a source of sustainable growth.  Hence the bigger question arises, what is a strategy? Continue reading