Some say strategy is good, some say strategy is highly overrated, some have built their careers on strategy and some, especially in corporate circles, believe strategy is something higher executives deal with and they are miles away from it, working on the day to day issues of their business.
As for me, I love strategy. That is because there are so many benefits to it. My favorite quote on strategy is:
Strategy involves trade-offs. The essence of strategy is choosing what not to do. – Michael Porter
When you realize that trade-off exists and you chose what not to do as part of your strategy, you build focus in the execution of the things you chose to do.
One article suggests that some consider strategy too artifical and almost impossible when the world is changing so quickly these days. However, I would add that it is in these times it is important to have focus and decide what you will not be as a company.
This crowding out principal works even in simple personal things like a diet. Instead of saying,”I will eat healthy things from now on”, if you say,”I will cut out soda from my diet”, the latter has more chances of success in your weight loss goal!
I am sure there are some really great books out there on strategy, including Porter’s own book – “Competitive Strategy: Techniques for Analyzing Industries and Competitors”, but this is my basic thought.
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