Strategy


  • Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value.”

    -Michael Porter

     

  • “Strategy: This is a set of principles and decisions – informed by reality (e.g. market forces, laws of physics, data) and caveated with assumptions – that you commit to ahead of development to ensure the greatest likelihood of success in achieving your vision. Your strategy may evolve with the introduction of new data. If there’s a big shift in strategy while the mission and vision remain constant, it’s called a pivot”
    – Vince Law
  • “Strategy is an integrated set of choices that uniquely positions the firm in its industry so as to create sustainable advantage and superior value relative to the competition.”
    – Playing to Win
  • “The essence of strategy is in the activities – choosing to perform activities differently or to perform different activities than rivals.”
    -Michael Porter

Best Reads


Competitive Strategy

Techniques for Analyzing Industries and Competitors


This is THE book, but it’s definitely dense as hell. Not an easy read, but important.
Playing to Win. Easier to read, this is a solid business book with the content you’d expect: some good nuggets, lots of case studies, some repetition.

Key Concepts



Five Forces

Understand competitive forces and stay ahead of the competition


A framework for analyzing competition in an industry based on 5 major factors: industry rivalry, power of suppliers, power of customers, barriers to entry or the threat of new entrants, and the threat of substitutes. (Michael Porter’s book on strategy is a grand-daddy O.G. book.) The supplier and customer elements are vertically related, while the new entrants, existing rivalries, and threat of substitutes are horizontally related.



Trade-Offs

An Introduction to Economic Reasoning and Social Issues


Trade-offs are essential to strategy because you cannot be everything to everyone; defining a strategy means clearly defining the things that are not important (consumers, markets, activities); if there are no trade-offs, there is no strategy.




Marketing Strategy

A Decision Focused Approach


The unique set of Marketing activities undertaken by a firm; the mix of 4 P’s (product placement promotion and pricing) which are determined to support the overarching company strategy.



Operational Strategy

Principles and Practice


Operational Effectiveness is compared to Strategy in Michael Porter’s article “What is Strategy?” Strategy is about doing a DIFFERENT set of activities than other companies, or doing the same activities DIFFERENTLY. Operational effectiveness is about how well you do a particular activity; it is more related to efficiency than to strategy. This helps to illuminate what strategy is.

Operational Strategy also exists, and this describes the decisions and trade-offs and activities selected by a company vis a vis operations (the methods and resources used to develop products, for example).




S.W.O.T

Using your strength to overcome weaknesses, using opportunities to overcome threats


Yet another analysis framework for a company relative to its competitors, market, and industry: Strengths, Weaknesses, Opportunities, Threats.



Strategic Pipeline Management

How to Build the Leadership Powered Company


The planning and activities which align company resources – and thus ability to execute projects and deliver products – with company strategy.




P.E.S.T.L.E

Understand and plan for your business environment


Another framework for analyzing markets and industries: Political, Economic, Social, Technological, Legal and Environmental.





My Writing



 

Five Forces

Understand competitive forces and stay ahead of the competition

A framework for analyzing competition in an industry based on 5 major factors: industry rivalry, power of suppliers, power of customers, barriers to entry or the threat of new entrants, and the threat of substitutes. (Michael Porter’s book on strategy is a grand-daddy O.G. book.) The supplier and customer elements are vertically related, while the new entrants, existing rivalries, and threat of substitutes are horizontally related.

 
 

Trade-Offs

An Introduction to Economic Reasoning and Social Issues

Trade-offs are essential to strategy because you cannot be everything to everyone; defining a strategy means clearly defining the things that are not important (consumers, markets, activities); if there are no trade-offs, there is no strategy.

 
 

Marketing Strategy

A Decision Focused Approach

The unique set of Marketing activities undertaken by a firm; the mix of 4 P’s (product placement promotion and pricing) which are determined to support the overarching company strategy.

 
 

Operational Strategy

Principles and Practice

Operational Effectiveness is compared to Strategy in Michael Porter’s article “What is Strategy?” Strategy is about doing a DIFFERENT set of activities than other companies, or doing the same activities DIFFERENTLY. Operational effectiveness is about how well you do a particular activity; it is more related to efficiency than to strategy. This helps to illuminate what strategy is.

Operational Strategy also exists, and this describes the decisions and trade-offs and activities selected by a company vis a vis operations (the methods and resources used to develop products, for example).

 
 

S.W.O.T

Using your strength to overcome weaknesses, using opportunities to overcome threats

Yet another analysis framework for a company relative to its competitors, market, and industry: Strengths, Weaknesses, Opportunities, Threats.

 
 

Strategic Pipeline Management

How to Build the Leadership Powered Company

The planning and activities which align company resources – and thus ability to execute projects and deliver products – with company strategy.

 
 

P.E.S.T.L.E

Understand and plan for your business environment

Understand and plan for your business environment