A winning company strategy and winning initiatives
YOUR COMPANY STRATEGY -
THE GROWING IMPORTANCE OF YOUR COMPANY STRATEGY
"Slow markets put more pressure on defining and implementing real opportunities"
A good business strategy results in winning choices, defining a winning aspiration and determining and implementing winning initiatives. That was the case in a non-digital era and it hasn’t changed. Strategy is not a mission. It is not a vision. It is not a plan. It’s not a collection of so-called best practices. It’s a process that starts with the determination of a winning ambition, after which ‘Where to Play?’ and ‘How to Win?’ are made explicit and then translated into concrete initiatives, a concrete organization and people.
A shared 'fact base' as starting point
A good start is not a flip-flop of ideas or a brainstorm, but rather the compilation of a shared ‘fact base’. Internal and external data provide concrete facts, or at least well-founded assumptions. In which markets are we active? What are the adjacent markets? Is there a market leader? Why is someone market leader? What does our relative performance look like? What trends can we identify? What are risks for our sector? Creating such a shared basis is often a very inspiring starting point.
A winning aspiration
A winning aspiration has little to do with competition. An aspiration also says little about a turnover, margin or profit to be achieved. An aspiration offers concrete value to customers with the intention of winning within a certain market. Playing along is not an option. It is clearly about winning. A winning aspiration is ambitious, concrete and creates energy.
Where-to-play? How-to-win? Both of them operate like siamese twins. Together, they’re at the heart of any corporate strategy. Under the header of Where-to-play? choices are made regarding customer segment, sales channel, specific offer, geography. It is about choices within the the value chain. As soon as the Where-to-play? becomes clear, it is important to determine how you want to win in those (sub)areas (How-to-win?): How will the company really excel to build a competitive advantage? Ultimately it will lead to 3 to 5 very concrete winning initiatives.