Continuity of Strategic Direction
Strategy is about making choices. The hardest thing for many companies is sticking to those choices over time, even in the face of intense competition and challenging economic times. Deepening a strategic position involves making the company’s activities more distinctive, strengthening fit, and communicating the strategy better to those customers who should value it—not chasing after “easy” growth opportunities that dilute the company’s value proposition.
Continuous improvement
“Reinvention” and frequent shifts in direction are costly and confuse the customer, the industry, and the organization. Continuity of strategy is essential to creating and sustaining competitive advantage. This means:
- Understanding the strategy throughout the organization
- Building truly unique skills and assets related to the strategy
- Establishing a clear identity with customers, channels, and vendors
Does this mean a company should never change? The answer is no. Innovation and growth ensure success. However, the value proposition stays the same. The job of management is to continuously improve how to realize it.