Your Business survival can be estimated in 8 questions
1. The Engineering question Can you create a breakthrough technology instead of incremental improvements?
2. The Timing question Is now me right time to start your particular business?
3. The Monopoly question Are you starting with a big share of a small market?
4. The People question Do you have the right team?
5. The Distribution question Do you have a way to just create but deliver your product?
6. The Durability question Will your market position be defensive 10 and 20 years into the future?
7. The Secret question Have you identified a unique opportunity that others don't see?
Any goal can be pursued in a variety of ways. It is the job of strategy to choose the most effective course of action for attaining objectives.
Whether a small or an ambitious one, projects which do not have enough ressources allocated are bound to fail
I wanted my team to understand that strategy is disciplined thinking that requires tough choices and is all about winning. Grow or grow faster is not a strategy. Build market share is not a strategy. Ten percent or greater earnings-per-share growth is not a strategy. Beat XYZ competitor is not a strategy. A strategy is a coordinated and integrated set of where-to-play, how-to-win, core capability, and management system choices that uniquely meet a consumer’s needs, thereby creating competitive advantage and superior value for a business.
Strategy is a way to win—and nothing less.