Strategy – Some Simple Thoughts

I’ve sat through and facilitated my fair amount of strategy sessions. A good start point is to have a look at what actually constitutes a strategy. Vague and aspirational statements like ‘growth’ or setting some operational objectives does not constitute strategy, no matter how worthy.

I think it’s always worth having a look at Michael Porter.

His suggestion is that there are two basic types of competitive advantage; lowest cost or differentiation. The two basic types of competitive advantage leads on to three generic strategies cost leadership, differentiation, and focus. A good starting point for any strategy discussion! Making the strategy happen is the tough bit.

Steve Bedford, Conical MD