What is Strategy? It’s a Lot Simpler Than You Think - Deepstash

Bite-sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

created 5 ideas

What is Strategy? It’s a Lot Simpler Than You Think

What is Strategy? It’s a Lot Simpler Than You Think

Harvard Business Review

STASHED IN:

663 reads

Strategy is simple

A strategy is a plan to create value. Value for customers, value for employees, value for suppliers. It is planning for the future.

Strategy doesn't begin with a focus on profit. Financials, profitability, return on investor capital is the result of strategy. It is not the ...

Value explained

Value is the difference between a willingness to pay and a willingness to sell. This can be shown with a value stick.

  • At the top, we have a willingness to pay.
  • At the bottom,  we have a willingness to sell.

The difference between the two is the value the com...

We can create more value in two ways.

  1. By increasing the willingness to pay. It describes the customers. It's the most a customer would ever pay for a product or service. Value can be created by focusing on "customer delight".
  2. By decreas...

Ways to raise willingness to pay

  • Product quality. The higher the quality, the more appealing the service, the higher the willingness to pay.
  • Product complements. A compliment is a product or service that supports willingness to pay. For example, razor and razor blades, or printer an...

Two ways to be more attractive in the market for talent:

  1. Pay more money. When you pay more money, you will be more competitive in the marketplace for talent.
  2. Make the job a better job. Create more attractive working conditions, for example, bet...

2 Reactions

Comment

MORE LIKE THIS

created 2 ideas

Competition makes markets strive to earn more than their counterpart, here, we listed the five forces that influence the competitive market.

5

Comment

276 reads

created 3 ideas

Alan Watts used to say life is a dance, not a journey. The eastern tradition has identified play as a the natural state for peace. Interesting how a psychological analysis can come up with similar findings.

3

Comment

269 reads

It's time to

READ

LIKE

A PRO!

Jump-start your

reading habits

, gather your

knowledge

,

remember what you read

and stay ahead of the crowd!

Takes just 5 minutes a day.


TRY THE DEEPSTASH APP

+2M Installs

4.7 App Score