What is Strategy? There are many views on what strategy is, but it was Professor Michael E. Porter who defined it in his 1996 Harvard Business Review article, ‘What is Strategy?’:

  1. Strategy is the creation of a unique and valuable position, involving a different set of activities
  2. Strategy requires you to make trade-offs in competing – to choose what not to do
  3. Strategy involves creating “fit” among a company’s activities

Today, many organizations, large and small, state their strategy.  Some high-profile examples are:

Wesfarmers

  • Strengthening existing businesses through operating excellence and satisfying customer needs
  • Securing growth opportunities through entrepreneurial initiative
  • Renewing the portfolio through value-adding transactions
  • Ensuring sustainability through responsible long-term management

Walmart

“Price, access, assortment & experience drive a customer’s choice of retailer. Historically, Walmart led on price and assortment. Retail environments are more competitive today, especially with e-commerce. To win, Walmart will lead on price, will differentiate on access, be competitive on assortment and deliver a great experience.”

BHP Billiton

“To own and operate large, long-life, low-cost, expandable, upstream assets diversified by commodity, geography and market.”

Alertise is a system that helps your organization create and action its strategy.

 

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