Strategy, there are about 3 630 000 000 results when you search the definition of this word. Bruce Henderson’s defines it ‘as a deliberate search for a plan of action that will develop a business’s competitive advantage and compound it’. Based on this, we can conclude that this noun does not simply define an ‘unknown or unexpected occurrence but rather a Systematic Tactic Rendered Accurately & Timeous to Execute a Goal or to Yield the desired outcome, in other words, S T R A T E G Y
Strategy is therefore, the conscious decision about how to position and drive one’s business or service. For instance;
You have inherited a sum of money and have always dreamt of owning a business. You are now confronted with a “WHAT NOW “or “WHATS NEXT?” situation. What I am going to sell? Who will be my customers? How will I tell them about my new business? , Do I need employees?
Over and beyond these questions, is the imperative of doing a proper market analysis to understand the business environment and client demands. Add to these, the chosen line of business must be given appeal and visibility; and must competitively edge or match pre-existent similar offers in quality, quantity and value.
The human resource and capacity imperatives: business location and leadership are just a few pillars of STRATEGY which require Systematic research, thought and reasoning and this in itself will begin to formulate the Tactic which will Render you an outline from which you formulate an Accurate and Time-based plan against which you will Execute to reach your business goals and Yield the outcomes your business needs.
In the coming weeks, we will look at the different features of strategy and how, when they are employed effectively at key stages of the business will demonstrate how an informed, calculated and tailored strategy can yield a competitive advantage that you need to propel your service or business.
Written by Nkululeko Dladla
Partner at ZebraCrossing.world
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