TxM 019 Section 2.2 Definitions of Strategy Created by James on 6/26/2013 7:00:08 PM
There are numerous definitions of strategy. A few that appeal to me are as follows:
1. Malcolm McDonald – the right things
Malcolm defines strategy as "doing the right things from the perspective of the customer" and tactics as "doing things right from the perspective of the customer".
He says that if an organization does the right things well it will thrive, if it does the right things not so well it will survive but if it does the wrong things it will die, it is only a matter of how quickly. The better the organization is at doing the wrong things the faster it will die.
This concept forms the basis of my corporate logo signifying that JAR&A seek to assist clients to thrive through the effective application of information technology.
From this comes the concept of supporting "thrive decisions" and other thrive language in our approach.
2. Essence of the business and how it thrives – Robertson
I have been aware of this definition for 22 years and it has informed my definition of strategy as "the essence of the business and how it thrives".
3. Michel Robert – strategic driving force
Michel Robert defines the following strategic driving forces and states that while all are present in an organization to some extent one should be paramount:
1. Product
2. User
3. Market
4. Technology / Know-How
5. Production Capacity or Production Capability
6. Sales / Marketing Method
7. Distribution
8. Natural Resources
9. Size / Growth
10. Profit
4. Essential components of strategy
In formulating a strategic view of the organization it is important to take account of the following elements of strategic execution – that is, the essence of the business:
1. Core economic driver
2. Core human resource driver
3. Core market differentiator / value proposition / sales or marketing method
4. Core customer / market / user
5. Core asset / product / natural resource / size / growth
6. Core technology / capability / know-how / distribution
7. Essential reason the organisation exists (generally NOT profit)
8. Core values / Other
All of these concepts should be taken into account in formulating a strategic (essence of the business, thrive) solution for an organization.
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