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You can use these five questions to develop a winning strategy.
© iStockphoto/Ridofranz
"What business strategy is all about –
what distinguishes it from all other kinds of business planning
– is, in a word, competitive advantage. Without competitors
there would be no need for strategy, for the sole purpose of
strategic planning is to enable the company to gain, as efficiently
as possible, a sustainable edge over its competitors."
– Kenichi Ohmae.
Every day, your company competes with other companies to survive and succeed. Your competitors have the same goal as you: to win. This is why you need to think carefully about how you'll get ahead – you need to develop a winning strategy.
It's hard to do this. If you get your strategy wrong (and this includes not thinking about strategy at all), you'll fall behind your rivals, and you may never recover your position. However, get strategy right, and you can pull ahead of the competition.
So, how can you develop a winning strategy?
In this article, we'll examine Lafley and Martin's Five-Step Strategy Model, a tool that that you can use to do this for your organization.
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Lafley, A.G. and Martin, R.L. (2013) 'Playing to Win: How Strategy Really Works,' Boston: Harvard Business Review Press.
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