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Definition of Strategy
1 a (1) : the science and art of employing the political, economic, psychological, and military forces of a nation or group of nations to afford the maximum support to adopted policies in peace or war (2) : the science and art of military command exercised to meet the enemy in combat under advantageous conditions b : a variety of or instance of the use of strategy 2 a : a careful plan or method : a clever stratagem b : the art of devising or employing plans or stratagems toward a goal 3: an adaptation or complex of adaptations (as of behavior, metabolism, or structure) that serves or appears to serve an important function in achieving evolutionary success<foraging strategies of insects> Source: m-w.com
Michael E. Porter
!! Michael E. Porter is a leading authority on competitive strategy, the competitiveness and economic development of nations, states, and regions, and the application of competitive principles to social problems such as health care, the environment, and corporate responsibility !! He is generally recognized as the father of the modern strategy field !! He also led the Institute for Strategy and Competitiveness at Harvard Business School !! You can follow him in twitter
!! http://twitter.com/MichaelEPorter
!! Strategic positioning means performing different activities from rivals or performing similar activities in different ways !! Reasons why improved OE is insufficient
!! Rapid diffusion of best practices !! Competitive convergence is more subtle
!! Strategy is the creation of a unique and valuable position, involving a different set of activities
!! Strategy is creating fit among a companys activities !! Right now its all about changing
Rediscovery Strategy
!! The failure to choose
!! Trade-offs are frightening !! Making no choice is sometimes preferred
Conclusions
!! Many organizations are confuse when talking about OE and strategy !! Changing is happening to fast, and organizations have to quickly adapt !! Strategy is
!! !! !! !! !! !! Unique competitive position for the company Activities tailored to strategy Clear trade-offs Competitive advantages arises from fit across activities Sustainability comes from the activity system, not the parts Operational Effectiveness (OE) is a given