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Strategy
  • Strategy
  • Strategy Explained
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  • Creating a Successful Strategy
  • Corporate Strategy
  • The Role of Leaders
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→
Creating a Successful St...
  • Creating a Successful Strategy
  • Unique Value Proposition
  • Distinctive Value Chain
  • Making Strategic Trade-offs
  • Fit Across the Value Chain
  • Continuity of Strategic Direction
Strategy →
Creating a Successful Strategy
×Creating a Successful Strategy
  • Unique Value Proposition
  • Distinctive Value Chain
  • Making Strategic Trade-offs
  • Fit Across the Value Chain
  • Continuity of Strategic Direction
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Creating a Successful Strategy

Competitive strategy is about being different. It means deliberately choosing a different set of activities to deliver a unique mix of value. Consider companies like Southwest Airlines or IKEA, which shook up their industries in the 1980s by doing things in a novel way. They essentially rewrote the playbooks for how to run an airline and sell furniture—and carved out long-lasting, unique strategic positions in the marketplace.

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Elements of a Successful Strategy

 

A Unique Value Proposition

Delivering a unique value proposition compared to competitors.

A Distinctive Value Chain

Choosing how the organization will operate differently to deliver on its value proposition.

Making Strategic Trade-offs

Making clear tradeoffs, and choosing what not to do.

Fit Across Value Chain

Integrating activity choices across the value chain to fit together and reinforce each other.

Continuity Over Time

Continuity of strategic direction.

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