Effective management of stars involves several key strategies:
Investing in Research and Development (R&D) to innovate and stay ahead of competitors. Allocating sufficient resources for marketing and sales to strengthen market position. Monitoring industry trends and customer preferences to adapt business strategies accordingly. Ensuring efficient operations to maximize profitability and sustain growth.
By focusing on these areas, businesses can optimize the potential of their stars and transition them into cash cows as market growth stabilizes.