In the words of Michael Porter, in order to succeed, all business organizations must:
1) Deliver greater value to customers.
2) Create comparable value at a lower cost.
3) Do both!
Seems rather obvious, right?
But as simple as these concepts are on the surface, it’s not so simple when this question arises, how? Here is where strategy comes in.
You must have a clear, defined objective and unique strategy before you can even start executing a plan. But how?
Create an short, concise and real exponential strategy-based plan. But first, let’s first define what strategy actually is.
Strategy, in its most basic form, is a long-term plan designed to achieve a specific goal. It shows the direction the plan will take and how the end result will happen.