Can you say what your strategy is in 35 words or less? And, do your colleagues say the same thing?
This all comes down to effective implementation. Structure your implementation with a Strategy Statement.
Make sure everyone in your organisation knows these 3 key areas:
1. What’s the Objective? Define your “end-outcome”. What do you want to achieve?
2. What’s the Scope? Set your domain. What market are you operating in, who exactly are you selling to? Be specific and clear.
3. What’s the Advantage? Clearly articulate your “differentiation.” What makes you different/unique from your competitors.
Use these 3 areas to ensure your business can speak your strategy in 35 words or less. When this happens, the results will surprise you.
Source: (HBR November–December 1996), Michael Porter and Mike Rukstad.
