Monday
13Jul2009
What is strategy?
I recently came across a great article in the Harvard Business Review entitled, ‘Can You Say What Your Strategy Is?’ by David Collins and MIchael Rukstad.
Not only can’t most of us say what our strategy is, most would struggle to define the word. The authors discuss three elements of strategy: Objectives, Scope, and Means. Use the following questions and graphic to help clarify your strategy. Then write it down on a single page and leave it on your desk so that it can inform every decision you make.
- What and where do you want to be in 2 - 3 years?
- What does success look like?

- What are the characteristics of your best customers?
- What do you deliver that is hardest for your competitors to match?
- What are the boundaries of your business?
- What is your value proposition?
- What unique combination of activities allows your firm alone to deliver your value proposition?
- What are your best at?

Monday, July 13, 2009 at 6:00AM | Comments Off 
