The Resource-Based View Theory (RBV Theory), developed by Jay Barney in 1981, explains competitive advantage as a result of a firm’s internal resources and capabilities rather than external industry conditions. The theory argues that firms achieve sustained superior performance when they possess resources that are Valuable, Rare, Inimitable, and Organized (VRIO), enabling them to effectively…
Industrial Organization (IO) Theory, associated with the work of economists such as Michael Porter, explains how industry structure shapes firm behavior, competition, and performance. The theory argues that profitability and strategic choices are largely determined by external market forces that exist within a firm’s operating environment. These forces include barriers to entry, bargaining power of…
In today’s interconnected world, the term “globalization” has become increasingly prevalent. It refers to the process of increased interdependence and integration among countries, economies, and cultures worldwide. Globalization encompasses various aspects, including economic, political, technological, and cultural exchanges. This article aims to demystify globalization, shed light on its significance, and explore the reasons why it…
Starting a new business is an exciting venture, but it often requires a significant amount of capital to get off the ground. Securing adequate funding is one of the most critical challenges faced by entrepreneurs in Kenya. Whether you have a brilliant idea for a tech startup, a retail business, or a social enterprise, having…
The term purpose in brand strategy has been so commonly used that it has almost become cliche. However, it is very important to realize that cliche or not, when it comes to building a brand, going into it without having a purpose is like digging one’s own deathbed. Why so? Read on to find out.…
Business registration in Kenya is a fundamental step towards formalizing your entrepreneurial endeavors. The The business registration in Kenya is relatively straightforward, but it is essential to understand the requirements, procedures, and legal obligations involved. This comprehensive guide will take you through the step-by-step process of business registration in Kenya, providing valuable insights to help…
As the number of businesses increase in Kenya and around the world, there seems to be no new idea that isn’t already out there, most businesses are circling around similar ideas, thus a desperate need for a clear plan on how to stand out. It’s tempting, very tempting, to adopt marketing strategies that appear successful…
One of the biggest highlights of my week was running through two strategic planning sessions with two of our clients at my consulting firm, Rensyl Integral. At the beginning of the session, I gave an opportunity for team members involved to share their expectations of the strategic plan, and they did so in a jumbled…
The global strategy consulting market is anticipated to increase significantly from $44 billion in 2017 to $91 billion by 2025 after decades of constant growth. This results in a volume doubling and an approximate 10% yearly compound growth rate. What is all this talk about strategy consulting? Isn’t it just about giving advice? This is…
Startup success is a vital part of Kenya’s entrepreneurial ecosystem, driving innovation, job creation, and economic growth. However, the startup journey is not without its challenges. In this article, we delve into the reasons why many startups fail in Kenya. By understanding these common pitfalls, aspiring entrepreneurs can gain valuable insights and take proactive measures…