What is strategy?
Is the first question that is good to ask yourself when working with strategy. Porter a classic in this discipline defines it as: “creating a unique and valuable position, involving a different set of activities.” There is not just one right question to where that position is, so it is not just about making an analysis it is about choosing what to do and as importantly choose what not to do. Strategy is about making the right mix of activities and combining them in a way that makes you perform better than at least the average of who you consider to be your competitors.
How to make strategy into something that you actually do?
The challenge with strategy is often when it has to get concrete and transformed into actions performed. Many experience strategy as something we talk about once a year at a strategy day filled with fluffy words and not so much about action. So a combination of having theory of different types and views of strategy combined with tools to make strategy transformed into actions is when strategy moves organizations. The tool that I favor the most in making strategy operational is Business Model Canvas. This is a good place to start when wanting to transform strategy into action. Still I would advise to also consult literature on different perspectives on strategy to help you think in bigger pictures.
litterature for inspiration
HBR’s 10 must reads On Strategy af forskellige forfattere. Harvard Business Review.
Blue Ocean Strategy af W. Chan Kim og Ren’ee Mauborgne. Harvard Business Press. USA. 2005.
Business Model Generation af Alexander Osterwalder.
Key Performance Indicators – Developing, implementing and Using Winning KPIs af David Parmenter. Wiley. Second Edition. USA, New Jersey. 2010