The DNA Of a Good Strategy - Deepstash
The DNA Of a Good Strategy

The DNA Of a Good Strategy

bloopglobal.com

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The DNA Of a Good Strategy

The DNA Of a Good Strategy

It’s time to look at your business with a fresh pair of eyes. It is time to get honest about where you are, where you want to be, and what it will take to get there.

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STRATEGIES do four things

  1. They change the game for rivals, 
  2. They open up new opportunities for innovation in the company, 
  3. They protect existing business, and 
  4. They deal with risks and pressures

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Must-Have in Strategy

  • Where you are competing, 
  • The customers you are targeting, 
  • What you are going to offer, 
  • How you intend to win, and 
  • What your people need to succeed.

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247 reads

Communicate Strategy

Communicate Strategy

Your strategy must be communicated in a way that ensures buy-in from stakeholders – especially your employee. Otherwise, execution may fall flat.

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Strategy brings the map to the journey

Strategy brings the map to the journey

Without it, you’re just heading someplace without knowing when a vehicle has a faulty GPS.

The Strategy you need now.

  • What makes you stand out. What’s your competitive advantage?
  • How will you create new market segments, disrupt a current market or respond to the disruption in the marketplace?

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There are at least five elements of a company’s strategy:

  • Customers,
  • Differentiation (better be sustainable),
  • Resources,
  • Execution and
  • People.

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Smart Strategy

There are two types of companies in this world, those that use strategy and those that don’t. The companies that win have a reliable strategy they can rely on to succeed. Smart strategies start with a step by step approach. If you’re going to get anywhere in business, you need the right perspective. Having the right perspective is what it’s all about.

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Everything in business can be thought of as a game

Which means that it takes strategy to win. Businesses, like games, are better played by strategists. Strategy helps you figure out what is going on and how to use this information to your advantage. Strategy helps you act effectively so that everything you do is an improvement over what your competitors are doing. Your strategy guides which opportunities you pursue and which ones you let pass. You are the chess player and the business game is your board.

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CURATED BY

buzzedison

Business Strategist, Investing in Africa, Tech Evangelist.

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