Download - A Definition of Strategy
STRATEGYAn Executive’s Definition
Pranay SanghaviAdapted from s+b
What is a Business Strategy?Adapted from Ken Favaro with Kasturi Rangan and Evan Hirsh
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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
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In life, just remember these two points
1. Where to Play
A. Your Target Market
B. Needs to be served
Lets get to each of them one by one
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
2. How to WinA. Value proposition B. Capabilities
the second guy..
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
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?
@pranaysanghavi