BUSINESS

Business

BUSINESS

Business: Cognitively distant opportunities are a concept that is based on the modern cognitive science of behavioral strategy which states that business opportunities that are considered to be cognitively distant from an individual’s typical experience are possibly the most rewarding (Hoffmann & In Coste-Manière, 2013, p. 17). Most companies and entrepreneurs tend to concentrate around the few existing profitable opportunities thus exhausting them through competition.

The idea of cognitively distant opportunities is, therefore, an ideology based on the fact that there exist a lot of superior opportunities of which no one has ever experienced or identified. Tapping of cognitively distant opportunities involves the identification of these opportunities, pursuing them and finally legitimizing the ideas (Hoffmann & In Coste-Manière, 2013, p. 17).

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The company’s key sustainable environmental policies include assisting in protecting the environment and scarce resources, improving efficiency in their processes and partnering with other organization to  optimize the environmental performance. The sustainable environmental policies assist the company to achieve its principles of favoring long-term development as opposed to short term profits and provision of information to customers on the products and brand they buy.

References
(2012 , 10) .Differentiation Strategy Of BMW Researchomatic .Retrieved 10 , 2012, from http://www.researchomatic.com/Differentiation-Strategy-Of-Bmw-90269.html
Henry, A. (2011). Understanding strategic management. Oxford: Oxford University Press.

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