An effective strategy sets the direction for a business but it also should be specific enough to say no—no to pursuing certain customers, no to entering certain markets, no to certain programs or investments, even no to hiring a certain person...
Read moreCase Study in Strategic Focus
In a recent article we discussed strategic focus, the idea that companies should first develop a laser-focused strategy, i.e., a definition of precisely where and how they intended to compete, that provided the best path to achieving the...
Read moreWhere and How to Compete
The best definition of business strategy, at least in my opinion, is a statement of where and how an organization intends to compete. A longer version of this definition would be business strategy is a description of where and how an organization...
Read moreFocus and Choice
Business strategy is about focus and choice. Strategy answers the question, what will we choose to focus on and what will we choose not to focus on? The struggle that many organizations deal with when trying to think strategically is a fear of...
Read moreStrategic Focus
Strategic focus is essential to business success. It is the ability to identify the one path that the business intends to take to accomplish its objective and to then relentlessly pursue that path while ignoring other paths along the way. Many...
Read moreCase Study in Strategy Effectiveness
I define business strategy as a description or statement of where and how an organization intends to compete. A longer version of this definition would be business strategy is a description of where and how an organization intends to compete...
Read moreA Different Differentiation
Strategic differentiation is achieved by providing a unique or different value offering to customers as compared to competitors. A strategy of differentiation is based on developing a deep understanding of customers’ needs and then meeting those...
Read moreStrategy Should Say No
An effective strategy sets the direction for the business but it also should be specific enough to say no – no to pursuing certain customers, no to entering certain markets, no to certain programs or investments, no to hiring a certain...
Read moreExample of a Great Business Strategy
A fever for growth and volume was driving this company toward bankruptcy until they developed a great strategy that turned them around, resulting in consistent value creation. Under previous owners a manufacturing company with which I am fairly...
Read moreThe Purpose of Business Strategy
The purpose of business strategy is to define how the organization should allocate resources in order to meet its goals and objectives and move toward its vision. Business strategy describes where and how the organization competes. This strategy...
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