Strategic Planning Kit For Dummies
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Strategy means consciously choosing to be clear about your company’s direction in relation to what’s happening in the dynamic environment. With this knowledge, you’re in a much better position to respond proactively to the changing environment.

The fine points of strategy are as follows:

  • Establishes unique value proposition compared to your competitors

  • Executed through operations that provide different and tailored value to customers

  • Identifies clear tradeoffs and clarifies what not to do

  • Focuses on activities that fit together and reinforce each other

  • Drives continual improvement within the organization and moves it toward its vision

Knowing what strategy is can also be explained by looking at what strategy isn’t. Dr. Michael Porter, the leading strategy guru and professor at Harvard University, says strategy isn’t the following:

  • Agility

  • Alliances/Partnering

  • Aspirations

  • Best practice improvement

  • Downsizing

  • Execution

  • Flexibility

  • Innovation

  • The Internet (or any technology)

  • Learning

  • Mergers/Consolidation

  • Outsourcing

  • Restructuring

  • A vision

About This Article

This article is from the book:

About the book author:

Erica Olsen is cofounder and COO of M3 Planning, Inc., a firm dedicated to developing and executing strategy. M3 provides consulting and facilitation services, as well as hosts products and tools such as MyStrategicPlan for leaders with big ideas who want to empower and focus their teams to achieve them.

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