A Definition of Strategy
Embed Size (px)
Transcript of A Definition of Strategy
- 1. STRATEGY An Executives Definition Pranay SanghaviAdapted from s+b
- 2. What is a Business Strategy? Adapted from Ken Favaro with Kasturi Rangan and Evan Hirsh 2
- 3. So, what is it? Strategy is different from Vision, Mission, Goals, Priorities and Plans It is the result of the choices executives make on 1. Where to play 2. How to win to maximise long-term value 3 In life, just remember these two points
- 4. 1. Where to Play A. Your Target Market B. Needs to be served Lets get to each of them one by one
- 5. Where to Play specifies Where the target customers are How they buy Who they are When they buy What they buy For whom they buy
- 6. 2. How to Win A. Value proposition B. Capabilities the second guy..
- 7. How to Win specifies Value proposition that will distinguish your business in the eyes of the target customers Capabilities that will give it an essential advantage in delivering that value proposition
- 8. In the end To define the fundamentals of your business strategy, you need only answer 3 questions: 1. Who is the target customer? 2. What is the value prop to that customer? 3. What are the essential capabilities needed to deliver the value prop?
- 9. @pranaysanghavi