Strategy has been defined in countless ways over the years, but all definitions tend to boil down to one of the following: - Doing something new. - Building on what you already do. - Reacting opportunistically to emerging possibilities.
published in 1989 by the granddaddy of strategy consulting, BCG founder Bruce Henderson).Rapidly responding to ever-evolving competitive and market changes .Do what everyone else is doing , or do something no one else can do.
While either approach can be successful, the two are for him not economically equivalent. Competing by doing what everyone else is doing means, he says, competing on price . But that just shrinks the pie as, in the rush to the bottom, profitability declines for the entire industry. Alternatively, you could expand the pie by staking out some sustainable position based on a unique advantage you create with a clever, preferably complicated and interdependent set of activities .
A tour de force by any measure, “What Is Strategy?” is certainly required reading for all strategists. But it was far from the final word. One could perhaps usefully divide the vast universe of subsequent strategy ideas into those that focus on:Reacting opportunistically to emerging possibilities.
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