Business strategy in the context of "Market research"

Industrial design is a process of design applied to physical products that are to be manufactured by mass production. It is the creative act of determining and defining a product's form and features, which takes place in advance of the manufacture or production of the product. Industrial manufacture consists of predetermined, standardized and repeated, often automated, acts of replication, while craft-based design is a process or approach in which the form of the product is determined personally by the product's creator largely concurrent with the act of its production.

All manufactured products are the result of a design process, but the nature of this process can vary. It can be conducted by an individual or a team, and such a team could include people with varied expertise (e.g. designers, engineers, business experts, etc.). It can emphasize intuitive creativity or calculated scientific decision-making, and often emphasizes a mix of both. It can be influenced by factors as varied as materials, production processes, business strategy, and prevailing social, commercial, or aesthetic attitudes. Industrial design, as an applied art, most often focuses on a combination of aesthetics and user-focused considerations, but also often provides solutions for problems of form, function, physical ergonomics, marketing, brand development, sustainability, and sales.

A business model describes how a business organization creates, delivers, and captures value, in economic, social, cultural or other contexts. The model describes the specific way in which the business conducts itself, spends, and earns money in a way that generates profit. The process of business model construction and modification is also called business model innovation and forms a part of business strategy.

In theory and practice, the term business model is used for a broad range of informal and formal descriptions to represent core aspects of an organization or business, including purpose, business process, target customers, offerings, strategies, infrastructure, organizational structures, profit structures, sourcing, trading practices, and operational processes and policies including culture.

Creating shared value (CSV) is a business concept first introduced in a 2006 Harvard Business Review article, Strategy & Society: The Link between Competitive Advantage and Corporate Social Responsibility. The concept was further expanded in the January 2011 follow-up piece entitled Creating Shared Value: Redefining Capitalism and the Role of the Corporation in Society. Written by Michael E. Porter, a leading authority on competitive strategy and head of the Institute for Strategy and Competitiveness at Harvard Business School, and Mark R. Kramer, of the Kennedy School at Harvard University and co-founder of FSG, the article provides insights and relevant examples of companies that have developed deep links between their business strategies and corporate social responsibility (CSR). Porter and Kramer define shared value as "the policies and practices that enhance the competitiveness of a company while simultaneously advancing social and economic conditions in the communities in which it operates", while a review published in 2021 defines the concept as "a strategic process through which corporations can turn social problems into business opportunities".

Menghwar and Daood (2021) conducted a comprehensive review published in the International Journal of Management Reviews ranked second best journal in the field of management in year 2022. In this article, they further refine three characteristics of creating shared value and define CSV as "a strategic process through which corporations can solve a social problem which is relevant to its value chain while making economic profits".

Talent management (TM) is the anticipation of required human capital for an organization, and the planning to meet those needs. The field has been growing in significance, and gaining interest among practitioners as well as in the scholarly debate over the past 10 years as of 2020, particularly after McKinsey's 1997 research and the 2001 book on The War for Talent. Although much of the previous research focused on private companies and organizations, TM is now also found in public organizations.

Talent management in this context does not refer to the management of entertainers. Talent management is the science of using strategic human resource planning to improve business value and to make it possible for companies and organizations to reach their goals. Everything done to recruit, retain, develop, reward and make people perform forms a part of talent management as well as strategic workforce planning. A talent-management strategy should link to business strategy and to local context to function more appropriately (Tyskbo, 2019).