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Can you say what your strategy is? (Elements of strategy statement…
Can you say what your strategy is?
Unclear strategy
Kinds of complaints
An initiative doesn´t
Fit the Strategy
Get mixed signals to a market opportunity pursuing
Waste time chasing the contract on the same customer´s business
What would be better off winning the deal a lower price or just losing the business
Leaders firm
Though strategy is never implemented.
Need to have a simple, clear, succinct strategy statement can internalize and use as a guiding light for making difficult choices.
Clear deffinition to develop strategy
Formulation
becomes infinitely easier because executives know what they are trying to create.
Implementation
becomes much simpler because the strategy´s essence can be readily communicated and easily internalized by everyone in the organization.
Elements of strategy statement
Objetive:
Ends
Should be specific, mesaurable and time bound
Scope:
Domain
Dimensions
Customer or offering
For Edward Jones the most important is customer.
Geographic location
Vertical integration
Should specity where the firm or business will not go.
Advantage:
Means
Is the most critical aspect of a strategy statement.
1) Customer Value Proposition
2) The uniques activities or the complex combination of activities
Fundamental of strategy
Requires
trade off
Distinguish individual companies strategically
Strategy
What our competitive game plan will be
Developing a strategy statement
Create a great strategy
Careful evaluation of the industry landscape
Identify core competences
Choice a single word
Spending the time to develop the few words that truly capture your strategy and that will energize and enpower your people will raise the long-term financial permonce of your organization.
