STRATEGIES do four things - Deepstash

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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MORE IDEAS FROM The DNA Of a Good Strategy

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

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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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RELATED IDEA

Chess And Strategic Thinking

The game of chess helps build strategic thinking, a must-have skill in business.

It is a game of kings that goes back 4500 years under various names and rules, reflecting and teaching important business skills that have remained timeless.

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The author asserts that well-managed companies have moved from the emphasis on customising items to offering globally standardised products that are reliable and low priced.

Global companies will achieve long-term success by concentrating on what everyone wants rather than worrying about the details of what people think they might like.

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Designing A Successful Product Marketing Strategy

For any business to sell its products, it requires having a unique product marketing strategy. The success of any product in the market is directly linked to the product marketing strategy used. With the right product marketing strategy, a company can know its product’s place in the market.

A product marketing strategy is simply a plan followed by a business to move a product and create visibility in the market. Without this plan, it is almost impossible for a product to enjoy success. A product marketing strategy ensures that the consumer does not forget the product.

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Get Your Product Out There

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