Who, what, how: succeeding with business strategy.
Strategy has three essential elements: development, implementation and selling (meaning, obtaining commitment and buy-in). Underpinning all three is choice, in particular the need to choose a distinctive strategic position in thee dimensions:
Who to target as customers (and who to avoid targeting)
What products to offer
How to undertake related activities efficiently.
This approach sounds simple but there are several key points to note to ensure a successful strategy:
Ensure that your strategy creates a unique strategic position.
Make distinctive, tough choices.
Understand the importance of values and incentives.
Gain people’s emotional commitment to the strategy.
Remember, understanding is not the same as communicating.
Do not overlook the knowledge-doing gap
Keep your strategy flexible.
The 100 Business tools you need to succeed by Jeremy Kourdi