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Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 9, 2020 9:18pm

Garcia, Carolina

Executive Summary

The article discusses the management strategies which make the business
successful in its industry. The article communicates the business strategies well,
with its link to the summary of HBR.org, which explains these strategies on
contextual analysis. The authors of the article found out that executives are unable
to summarize strategies of their companies and are unsure if their colleagues or
subordinates understand the perspectives in the same way the executives
understand them (Collis & Rukstad, 2008). The main idea here is to answer the
question that, in case colleagues have different answers and opinions, how clear
can the business strategy regarded to be effective in solving the stalemate?
Unclear procedures have not worked well with most managers, executives, and
frontline employees for a company due to an undefined framework in the line of
operations. The article introduces several common-sense strategies to explain
these strategic philosophies.

2. Which are the three most CRITICAL ISSUESof THISarticle? Please explain
why? And analyze and discuss in great detail.

Critical Issue 1: The Scope of the organization

The scope of an organization’s activities is a crucial element in executing its line of
production effectively. The scope entails the geographic location, customer service,
and vertical integration. Defining clearly these elements of the scope will help the
managers to identify the activities that need to be prioritized. According to Collis
and Rukstad (2008), the scope might be more challenging than it appears on the
surface, and managers have to be keen when going about it. It helps in setting
clear boundaries on what the organization will or will not do.

Critical Issue 2: Clarify the Advantage

Defining the advantage of the organization is the most critical aspect element of an
organization, which is mostly overlooked. Many customers have failed to articulate
this in fashion. Clarity on what makes the organization distinct is what makes the
employees understand what is required to execute the enacted strategies
successfully. The advantage of a firm consists of two parts, that is, the value of
customer statements and the combination of activities that enable the organization
to deliver customer value.

Critical Issue 3: Define the Objective

An objective is mostly a precise statement or statements that can have an impact
on the business. The objectives are the overarching goals that motivate the
organization towards achieving successful business (Collis & Rukstad,
2008). These are formulated in line with the long term vision of the organization.

3. Which are the three most relevant LESSONS LEARNEDof THISarticle?
Please explain why? And analyze and discuss in great detail.

i). The article hints on the dangers associated with undermining the scope of the
organization. All elements necessary for strategic planning and implementation
have equal weight. The dealings of the business are a useful guide in setting the
scope (Wick, 2018). When a business deal with brokerage firms is a different
situation when the company deals with direct agents.

ii). Stating the strategies and objectives clearly helps in avoiding mistakes. It is
evident from the article that when the strategies are clear, the decision-making
process is also easier. In stating the advantage of the organization, the customer’s
value is the priority, and ensuring the customer value is the frontline is an essential
philosophy.

iii). The article also outlines the significance of the three core statements of an
organization. The vision, mission, and core values statements are vital in guiding
the behavior of the employees in executing the strategies that set the company
apart. The core statements motivate employees from an individual level.

4. Which are the three most important BEST PRACTICESof THISarticle? Please
explain why? And analyze and discuss in great detail.a) Strategic
planning: Strategies are aligned with the objectives and the available
resources for the execution of policies guiding resource utilization. The
strategic plans change the direction of the business accordingly.b)
Management Control: This refers to the process of ensuring resources are
obtained and efficiently used to accomplish the set objectives. Management
control is carried out within the plan.c) Technical Planning and Control: This
entails sufficient acquisition of resources to facilitate the organization’s
activities. The control process establishes the balance between the resources
and the output

5. How can you relate THISarticle with the TOPICS COVEREDin class? Please
explain, analyze, and discuss in great detail.

The article relates to the topics learned in class in aspects of strategic
management and control There is a correlation between effective management
strategies and strategy execution. The topics indicate the need for a balance
between resources and the organization’s activities (Dess et al., 2019). A
contemporary approach to strategic control incorporates behavioral and
information control in the control system.

6. Do you see any alignment of the concepts described in THIS article with the
class concepts reviewed in class? Which are those alignments and
misalignment(s)? Why? Please explain, analyze, and discuss in great detail.

The concepts explained in the article align with the concepts taught in class and in
describing the challenges managers face in various situations in their managerial

roles. An organization can be faced with opposing opinions from different people. It
is the role of the leaders to ensure such differences are harmonized for operational
effectiveness (Dess et al., 2019). For instance, topic eight focuses on raising and
allocation of resources, which are also described in the article. Topic nine explores
the roles of investors in corporate governance. The concept of strategic planning,
management, control, and implementation is discussed. The article is very relevant
to the class course work.

References

Collis, D. J., Rukstad, M. (2008) Can You Say What Your Strategy Is? Harvard
Business Review.

Dess, G., McNamara, G., Eisner, A., Lee, S. (2019) Strategic Management. New
York: McGraw-Hill Education.

Wick, A. D. (2018) “Think through Strategy” Retrieved
from http://strategicdiscipline.positioningsystems.com/blog-0/topic/strategy-
decisions (Links to an external site.)

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 16, 2020 8:21pm

Garcia, Carolina

Hi Garrett,

Your explanation of what strategy is in the context of business is spot-on and
invaluable. From the simple conceptual definition of a business strategy as a
detailed plan which indicates how an organization is set out to achieve its
objectives, you have decomposed the different elements of strategy. That does not
only make your discussion more decipherable but also insightful. It is agreeable
that a good plan must have objectives, scope, and advantages as its mainstays.
About objectives, any success-oriented must find it necessary to set goals which
they must achieve in fixed timescales. That way, employees and managers work in
concert. Imperatively, you have indicated that value proposition is an indispensable
imperative when setting objectives, which is an organization that must aim at
making itself attractive to clients through innovation and excellent services.
Besides, a strategy must have a scope that encompasses customers, vertical
integration, and geographic location which establish boundaries within which
managers and teams operate to achieve the set objectives. In the definition of the
advantage as an underpinning of a strategy, you introduced the concept of
competitive advantage. That makes your discussion even more informative as it
common knowledge that competition is inevitable in the business landscape.
Therefore, an excellent strategy must clearly define how an organization will
leverage and maintain a competitive advantage.

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 16, 2020 8:23pm

Garcia, Carolina

Hello Lucia,

Your explanation of a good business strategy is perfect. I like the way you have
explained the significance of a simple and clear strategy for a business
organization. Conceivably, business organizations achieve their objectives through
consolidation, organization, and controlling their resources, whether human or
other resources. In a bid to achieve this, there must be sound decision-making,
which is only possible through a profound strategy. Moreover, you have expounded
on all the underpinnings of strategy, for instance, objective, scope, and advantage.
Also, the way you have cited your work makes it more credible. Great Post!

Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 6, 2020 4:31pm

Lherisson, Minaja

Module 05, Online Discussion HBR: “Can you say what your strategy is?”

Executive Summary

In this article, David J. Collis, an author who also served as an adjunct professor in
the strategy unit of Harvard Business School and Michael G. Rukstad, a former
senior research colleague and professor at Harvard Business School, presented a
helpful guide for developing a successful strategy statement and provided an
detailed example of how Edward Jones, a brokerage firm based in St. Louis
developed a strategy statement that proved to be successful. Many individuals
were asked if they are able to summarize their company’s strategy in 35 words or
less. When asked if their colleagues would express it the same way. Only a few
executives can truly say yes to those simple questions. Any strategy statement
must begin with a definition of the ends that the strategy is designed to achieve
(Collis & Rukstad, 2008). It is essential to define the scope of the firm, considering
that most companies compete in landscapes that are more or less unbounded.
Primarily, firms need to have a specific advantage. Moreover, trade-offs are
required in the process of defining the objective, scope, and advantage. If a
company chooses growth or size, profitability will be placed on the back burner. If it
decides to serve formal clients, it may overlook retail customers. If the advantage
comes from scale economies, the firm will not be able to accommodate
idiosyncratic customer needs (Collis & Rukstad, 2008). Firms or companies will
need to thoroughly assess the landscape of the industry, prior to developing their
strategy and creating their statement. Including customers being segmented and
finding new ways of delivering value to the customers the company targets. As well
as analyzing the current strategies of their competitors’ and predicting the changes
they may make. The main thing to do is to identify the strategic “sweet spot” where
it meets the needs of the customers in a way that competitors can’t, granted the
circumstance or environment in which it competes. Firms that have strategy
statements that are clear enough and succinct for their employees can internalize
and use as a guiding light for making difficult choices, often become success within
the industry.

Critical Issues

The article provides several critical issues. The first critical issue of this article is
that firms that aren’t in the possession of a statement of strategy that is simple and
clear are expected to drop into the same category of companies that have been
unsuccessful in implementing their strategy or, worse, firms that never had
developed one. In an astonishing number of organizations, executives, frontline
employees, and all those in between are frustrated because no clear strategy
exists for the company or its lines of business (Collis & Rukstad, 2008). The
second most critical issue of this article is that many executives aren’t
knowledgeable about all the all the elements of a strategy statement. This fact
alone makes it difficult for them to develop one. The third most critical issue of this

article is that leaders of firms are perplexed when what they thought was an
exquisitely constructed strategy is never implemented. These leaders think that the
initiatives defined in the documents that stems from an annual budget or a
strategic-planning process will guarantee them success in the area of competition.
These leaders neglect to realize the need for a strategy statement that is simple,
clear, succinct. A statement that employees can internalize and use it as a guiding
light for decision making.
Lessons Learned

The three most relevant lessons learned of this article is the three dimensions a
firm’s scope encompasses. Which are customer or offering, geographic location,
and vertical integration. Clearly defined boundaries in those areas should make it
obvious to managers which activities they should concentrate on and, more
important, which they should not do (Collis & Rukstad, 2008). The relevance of
these three dimensions may vary. Some individuals like Edward Jones, may regard
the customer as being the most important. The needs of a very particular type of
client is met through the configuration of the firm. The scope of a business doesn’t
stipulate precisely what should be achieved within the bounds that are specified. It
promotes initiative and experimentation. The scope have to indicate the direction or
location the company or firm will not go in order to make certain that there are clear
borders for all employees. Comparably, Jones isn’t vertically integrated into
exclusive mutual funds, so that the impartiality of its financial advisers is not
violated and not to undermine the trust of its clients.
Best Practices

The three most important best practices of this article are the three elements of a
good strategy statement. Which are objective, scope, and advantage – and rightly
believed that executives should be forced to be explicit about them. These simple
elements make for a sufficient list for any strategy that focuses on competitive
dealings over boundless terrain. Any strategy statement must begin with a
definition of the ends that the strategy is designed to achieve (Collis & Rukstad,
2008). Since most firms compete in a more or less unbounded landscape, it is also
crucial to define the scope, or domain, of the business: the part of the landscape in
which the firm will operate (Collis & Rukstad, 2008). The essence of the strategy is
the competitive advantage. Complementary external and internal components are
involved in that advantage.

Topics Covered

This article can relate to the topics covered in class. Chapter 5, provides us with an
outsiders view of how firms can create strong competitive positions in platform
markets. Similarly, this article provides readers with the knowledge of strategy
statements, which can be used to define the competitive advantage of a firm or
company. Given that a sustainable competitive advantage is the essence of
strategy, it should be no surprise that advantage is the most critical aspect of a
strategy statement (Collis & Rukstad, 2008). Hence, in the previous chapters, we
were introduced to the types of competitive advantages and sustainability.

Concept Alignments

Concepts described in this article are aligned with the class concepts reviewed in
class. Many concepts learned within this course can also help firms or companies
determine and identify the failings that are present within a strategy statement. In
chapter 2, we were introduced to the five competitive forces also known as Porter’s
Five Forces. Which are Competitive rivalry, Bargaining power of suppliers,
Bargaining power of customers, Threat of new entrants and Threat of substitute
products. In the article, Michael Porter identified the requirement to defining the
objective, scope, and advantage, as fundamental to strategy. A Five Forces
analysis can assist firms evaluate industry attractiveness, shows a firm which
industries it should compete in, in what way trends will influence or impact industry
competition, and the many ways firms can place themselves in a position for
success. Hence, it can also help in analyze competition. Being aware of
competitors and the way in which their services or products and marketing or
promotion strategies affect the firm is key to its survival.

Reference

Collis, D.J., & Rukstad, M.G. (2008). “Can you say what your strategy is?” Harvard
Business Review.

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 8, 2020 3:22pm

Lherisson, Minaja

Hello, Garrett

Great post. I agree that a critical issue from within the article is the overwhelming
likeliness that most companies do not have a simple and clear statement of
strategy. If a company is to be successful, leaders must define and communicate a
clear strategy. Without specific directions, a company could get off track and lose
focus and be destined to fail. The strategy statement is essential because it often
includes specific instructions for all the employees to follow. Sort of like a guide.
Once you learn how competitive advantage, objectives, and scope as the core
elements of strategy statement work, you will number one in your niche on the
market (Martin, 2019).

Overall great post. Very informative.

Reference

Martin. (2019). Strategy Statement: Articulating Your Competitive Advantage,
Objectives and Scope. Retrieved from https://www.cleverism.com/strategy-
statement-articulating-your-competitive-advantage-objectives-and-scope/

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 8, 2020 3:41pm

Lherisson, Minaja

Hello, Jazlyn

Great post. I agree that one of the best practices from the article is the need for
executives to be clear about the elements that form a strategy statement. As most
leaders may know, the strategy of the company is an essential part in determining
its future. A clear strategy includes all the elements it need to be effective. The
objective, scope and advantage are important to yield profit, growth, and other
objectives set by leaders or executives. If executives aren’t clear about these
elements, they may not yield any benefits, and could possibly result in chaos or
disaster. These elements, if used properly can assure the future success of any
company.

Overall great post. I really enjoyed reading it.

Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 4, 2020 4:35pm

Pingol, Garrett R

Can You Say What Your Strategy Is?

1. Executive Summary for THIS article.

Can you say what your strategy is? The intent behind this exercise is to assess the
ability to summarize an organization’s strategy in 35 words or less and if this is
attainable then the colleagues should have the ability to as well. It is the minority of
executives that can honestly answer these questions affirmatively. This is even the
case for executives from the highly prosperous companies within their industries
who strive to attempt compliance with this ideology. One company for example is
Edward Jones which is the 4th largest brokerage within the U. S. and successfully
quadrupled their market share in the last two decades and has continually
outperformed its close competitors in regard to ROI in both bull and bear markets.
Edward Jones has been anchored on Fortune’s list of top companies to work for
and yet even their executive staff struggles with this concept.

When it comes to deciding what goes in a good strategy statement, Michael
Porter’s seminal article “What is Strategy?” provides the blueprints of strategy in
grand fashion. There is an emphasis on transmitting the essence of strategic
choices and distinguishing them from competitive ineffective search for operational
efficiency. In contrast, it is said that the article from Porter does not supply answers
to the very basic question of how to describe a particular firm’s strategy. It is
required of executives to be very clear about elements of a strategy statement
which consist of three critical components.

• Objective
• Scope
• Advantage

The core problems identified are filtered through the fact that, companies which do
not have a simple and clear statement of their organization’s strategy are likely to
fail to establish or execute that adopted strategy. This deficiency will produce
companies where executives, public eye employees, and others within will become
frustrated since no clear strategy exists for the company. It is for that reason, they
fail to appreciate the necessity of having a simple, clear, succinct strategy
statement that everyone can incorporate and use as a guide for decision making.
What most wouldn’t expect is that most executives are likely to not know all of the
elements within the strategy statement which makes it impossible for them to
develop one. This is a clear area of missed opportunity for many organizations.
Additionally, most companies confuse and blend their mission statement with their
strategic objective.

The definition of the objective should include not only an end point but also a time
frame for reaching it. In an effort to reach the desired result it is imperative to know
that a well-understood statement of strategy facilitates behavioral alignment within

an organization. This will promote individual choices which compliment one
another and bring efforts together so that employees will become more efficient.
When defining the objectives within the statement of strategy it should include time
frames in addition to the end point or goal. Additionally, there needs to be a value
propositioning which outlines the way internal activities have to align if a successful
outcome will be reached. It is here the trade-offs companies make can separate
them strategically from others.

When defining scope there are three dimensions which are encompassed:
• Customer or offering
• Geographic Location
• Vertical Integration
The three dimensions may vary in relevance, but they help establishing clearly
defined boundaries for managers and their teams to know the activities they should
or should not focus on. Without these critical boundaries we allow room for
interpretation or difference in approach. This may be fine in a small organization
but in larger organizations any lack I clarity will erode efforts.

Defining the Advantage is the most critical aspect of a strategy statement.
Importance is high in this segment as it offers needed clarity about what makes the
firm distinctive and stimulates an employee’s understanding and contribution
toward the successful execution of the company’s strategy. Within this advantage
segment we must acknowledge the position of competitive advantage in regard to
customer value. Specifically, we must ensure that our strategy statement
addresses the customer in one way or another if we don’t want it to be destined for
failure. To achieve this objective the organization can consider visual aids like
graphs to simplify the goal.

In addition to the three critical components it discusses what will exactly be
achieved thru this exercise. Developing a Strategy Statement refers to how a firm
should go about crafting its strategy statement. The first step is to create a great
strategy, it requires careful evaluation of the industry landscape which includes
development of a detailed understanding of customer needs, segmenting
customers, identification of unique ways of creating value for the ones the firm
chooses to serve and an analysis of competitors’ current and future strategies.

Fir executives a candied strategy is recommended so that all truly understand what
it will involve. The result of the exercise should produce a “to the point” statement
depicting the three elements of an effective strategy. Executives should not ignore
the substantial impact A 35- word statement can have on a company’s success.

2. CRITICAL ISSUES of THIS article
A critical issue from within the article is the overwhelming likeliness that most
companies do not have a simple and clear statement of strategy. This is facilitating
a gap in consistency and vision which likely hurts the bottom line. Furthermore, it is
likely that even if an organization has a clear statement, many of the executives
are unfamiliar with its meaning an content.

Secondly, this failure to execute known strategies or the absence of strategy all
together leads to frustration for not only executives but more so the frontline
employee making the contact with the customer.

Finally, we must acknowledge the instances where organizations wrongly define
their objectives which leads to further confusion and lack of motivation from the
workforce. This occurs when values or mission statements merge into the strategic
objective.

3. LESSONS LEARNED of THIS article

The first and most impactful lesson is that A 35-word statement can have amazing
influence on a company’s success and the unexpected ability of words to lead
actions to results. Also, if executives spend time to develop fewer words to capture
what they are wanting then that facilitates performance and employee
engagement. That is cause the process is simplified and direct. Removal of
subjectivisms and wordsmithing goes a long way in regard to strategic objectives.

A second lesson learned from the article involves the three critical components of a
good strategy statement which are; objective, scope, and advantage as well as the
role they play in a strategy statement. The identification of these three areas
captures the core essence of how, where and when to go.

A final lesson is the concept of scope and how an enterprise does not need to spell
out what should happen word for word but in turn accomplish the desired result
thru specified boundaries. To ensure that the boundaries are understood by all it is
important that the scope clarifies the “no go” areas. This environment will
encourage experimentation as well as initiative.

4. BEST PRACTICES of THIS article

One of the best practices from the article come from the strategic operation of
Edward Jones brokerage firm. Clear illustration and a well-understood statement of
strategy when it comes to behaviors in a business truly is a best practice as it
allows each employee to make individual choices that reinforce one another and
render 10,000 employees exponentially more effective.

Secondly, each one of 37,000 Edward Jones employees have the ability to express
the company’s succinct strategy statement. Although the three dimensions may
vary in relevance, for Edward Jones, the focus is mostly on the customers.
Additionally, the use of a Activity-System Map further showcases the brokerage’s
value proposition to provide convenient, trusted, personal service and advice. To
make it easy for its targeted customers to visit its offices at their convenience and
to provide a relaxed, personable, nonthreatening environment, Jones strategically
places its offices in strip malls and the retail districts of rural areas and suburbs
rather than high-rise buildings in the central business districts of big cities. These
initiatives themselves put Jones in a position to be radically from other brokerages
in the configuration of its activities.

Finally, the techniques accepted and executed by Wells Fargo bank to compete in
the brokerage business should be noted. Within their plan the bank uses cross-
selling services to its retail banking customers in order to boost profit per customer.
The goal is to sell each customer a minimum of eight different products. These
customers are usually brought into the form via one area of product.

5. Relation with the TOPICS COVERED in class?
The difficulty to reach specified goals as a byproduct of executives lacking a clear
sense of strategic statement is consistent with our leanings. Specifically, the topic
of Strategic Control. When defining the objectives there should not only be a clear
end point but an associated time frame for the achievement. This is helpful and
important because trade-offs companies must make constitute their strategic point
of differences from other firms. Therefore, the need for Entrepreneurial Strategy.
After strategy formulation is complete then the implementation must be consistent
to allow accurate monitoring and correction of performance issues. The
identification of core competencies fosters creative developing strategy that leads
to changes in factors such as technology, industry demographics, regulation and
so forth.

6. Alignment of the concepts described in THIS article with the class concepts
reviewed in class

The act of developing a Strategy Statement is consistent with the concept of
Contemporary Approach Effectiveness covered in class. The finding of the sweet
spot is the creative part of strategy development that aligns the firm’s capabilities
with customer needs in a way that competitors cannot match. From the
contemporary approach it is noted that one of the best ways to do this is to create
varied strategic options by focusing on constantly changing information that has
potential strategic importance, by the understanding that information is important
enough to demand frequent and regular attention from all levels and by making
sure available Data are interpreted and discussed in face-to-face meetings as well
as other platforms.

References:

David Collis, Michael G. Rukstad. (April 2008). Can You Say What Your Strategy
Is? Retrieved from.
file:///Users/Newuser/Downloads/Can%20You%20Say%20What%20Your%20Strat
egy%20Is%20(1).pdf
Reeves, M., Haanaes, K., and Sinha, J. (2015). Your Strategy Needs a Strategy:
How to choose and execute the Right Approach, 1st Edition Harvard Business
Review Press

Dess, Gregory (2019). Strategic Management: Text and Cases, 9th Edition
McGraw-Hill
The Chief Strategy Officer PDF.

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 7, 2020 3:17pm

Pingol, Garrett R

Jazlyn,

Great assessment and post for this week’s discussion. I concur that your
assessment of the article basis is accurate and I find that it isn’t an uncommon
business issue. All too often as executives move up they become tunnel vision to
their silo and miss the global picture out of self preservation. Additionally, they
subordinated will absolutely become confused on what is important which will delay
progress. Executives must maintain that team view vs. pushing their scope of
duties as the most important on a regular basis.

Your lessons learned section makes me reflect on the concept of poor teams and
how poor teams only reach that status as a result of poor leadership. Many
leadership books that I have read get into this topic. Teams fail when leadership
doesn’t lay out clear and defined expectations while reciprocating the behaviors
that they expect.

I also agree with you that the CEO cannot be the only torch carrier. It takes a full
team to work together to reach the objective of success and longevity.

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 7, 2020 3:26pm

Pingol, Garrett R

Minaja,

Another solid post on your part, you are consistent and diligent. You stated, It is
essential to define the scope of the firm, considering that most companies compete
in landscapes that are more or less unbounded. I believe that in all scoped of
business we will only be successful thru explaining the what and why to our teams.
Employee need to understanding what they are striving for so that they can relate
to the importance of the end result. That there is a motivating factor that will out
last that of any monetary compensation.

You also talk about the consequences of not having a statement of strategy. I
believe in this concept as well due to the fact that people inherently want to be led.
Without a statement of strategy interpretation can become the rule of the day and
employees may venture down a road that is their vision vs the organization. This
environment is dangerous in itself for short term and long term organizational
environment.

Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 10, 2020 11:30pm

Ponce, Dailenys

1. Executive Summary for THISarticle.

– Nowadays, there are few executives that can express their strategy in a few
words. Having a well-understood statement of strategy ought to balance the
behavior inside the organization due to the fact that absolutely everyone in the
association may want to make individual decisions that may want to fortify one
another. Moreover, companies that well-explained strategies are the most
profitable in their industry. For instance, the brokerage association Edward Jones
has multiplied its share market given that it has executed that each employee could
express and understand the company’s strategy which is to extend to 17,000
financial advisers by 2012 by supplying a relaxed face-to-face financial
recommendation to conservative buyers who manage their monetary alternatives
by creating a countrywide network of one-financial-adviser offices.

Mike Rukstad established three necessary elements in order to generate an ample
method statement: objective, scope, and advantage. First of all, objective consists
on expressing the cause of the strategy, and it must encompass the end point, and
the time frame for achieving it. The primary aspects of the strategic objective are
that is specific, measurable, and time bound. The intention of establishing a
strategic objective is to inspire the business over years. The goal can change the
direction of the business. For example, Boeing’s principal intention was to be the
largest company in the plane industry, but the agency modified its aim to be the
most profitable, so that change makes the organization to restructure the complete
association from income to manufacturing. Secondly, the scope focuses on
determining the landscape where the enterprise will operate. In the case of Edward
Jones, the important component had been customers; therefore, the corporation
spent time and effort to pick out the desires of each and every kind of clients.

Finally, the gain is the essence of method due to the fact represents the concept of
why the organization is a better choice compared to its competitors. The
aggressive gain is compound by two parts. The first part is the declaration of the
client price proposition which is a map where it is assessed the fee proportion
against competitors to visualize what makes the organization distinctive, and the
2nd phase of the statement of advantage represents the activities that permit the
firm to fulfill the customer value preposition. Considering The Edward Jones’s
Activity-System Map that displays that the firm’s cost proposition is to offer
comfortable, personal provider and advice, and the precise component of the
association is that it has solely one economic adviser in an office which allow it to
have more offices than competitors do, and also Jones opened places of work in
rural areas as an alternative of high-rise buildings.

After implementing the three elements of creating a strategy statement, now it is
time to develop the strategy. The key of developing an approach is to identify the
good spot in which consists on understanding the customers’ desires in way that

opponents cannot given the landscape where it competes, and environment
friendly manner to meet these needs is to enhance two or three different strategic
options. In those options, personnel at all levels ought to be included due to the
fact they are the main issue to carry out the strategy. Therefore, all level all
management must become teachers to decrease level employees for well-being of
the strategy. If an organization has success on capturing its strategy in few words,
and speaking it effectively, the firm would amplify the long-term financial
performance.

2. Which are the three most CRITICAL ISSUESof THISarticle? Please explain
why? and analyze, and discuss in great detail …

– First of all, one difficulty is given through the article which is the most executives
cannot define the objective, scope and the advantages of their enterprise
strategies; therefore, they are viewed as screw ups considering that they do not
have adequate expertise to create or execute the strategy statement. The strategy
is the main tool that corporations use to be aggressive in the market, so if an
employer never develops an enterprise strategy never is going to be profitable.
Another issue is related to the communication of the strategy due to the fact it is
not sufficient to create it also it is vital to speak it effectively. So, if executive
managers do now not have or develop communication skills, in no way they are
going to make their employees internalize and use the approach statement as
preparation to operate their duties. Sometime organizations spent time and
sources on developing empty ideas due to the fact there is no longer any strategy.
For instance, engineers in the R&D department create products with “must have”
points for customers that maybe will not pay, or sellers are increasing sells and
offers even though the manufacturing section has simply invested in new tools for
increasing the production, and so on. Therefore, it is important to have a clear
approach to keep away from unbalance in the company´s resources. Finally, if an
enterprise does not decide or set up the gain on its strategy statement, the
organization will never be competitive because not having gain skill that the
company does not reflect any issue that makes it distinct from different firms.
Hence, customers could not find that organization as new alternative of being a
provider.

3. Which are the three most relevant LESSONS LEARNEDof THISarticle?
Please explain why? and analyze, and discuss in great detail …

– As a professional who wants to be in an executive position, I think about essential
the knowledge of the 3 components of a properly strategy statement (objective,
scope, and advantage) because the key of running a enterprise is the strategy, and
if a strategy is no longer well-defined, the business would not be successful. It is
important to outline the objective to decide the most important goal of the
company, and the time frame to reach it, to establish a scope to decide in which
panorama the business will operate, and to generate the advantage to visualize

and examine the role of the enterprise concerning its competitors. Another lesson
is the significance of having communication skills. The running and monetary
effects rely on how effectively the strategy declaration was communicated. If the
method is explained effectively to each hierarchy in the company, employees and
managers at all tiers would perform their jobs based on the necessities requested
by the strategy. Finally, the major factor to guarantee the success of the strategy
implementation is to have the most expert personnel within the company. Having
well-qualified personnel allows that the agency should carry out method
implementation because they have the expertise, they are rapid learners, they
should make the enough selections to develop the method effectively.

4. Which are the three most important BEST PRACTICESof THISarticle? Please
explain why? and analyze, and discuss in great detail …

– An adequate practice is to strengthen the client value proposition because it
allows identifying what makes the business enterprise specific concerning its
competitors. The article exhibits the value proposition of Wal-Mart which displays
that “everyday low prices for a huge range of goods that are continually in stock in
handy geographic locations” but it has issues on patron services and ambiance. By
implementing this tool, it can be validated if the goal has been achieved, and what
the issues in the strategy. Another outstanding practice is to create training
programs to teach low level employees all the competencies and expertise to
develop the strategy statement effectively. A well-understood statement of strategy
balances the behavior inside the company, and it permits all of us in the company
to adequately make decisions, and to render all personnel to give all their potential.
Finally, a correct practice is to capture the strategy in a few key words to facilitate
its understanding and employees could operate their jobs based totally on the
strategy´s requirements. These few words can generate a massive influence on
the organization by defining the grasp of the firm, and enhancing long-term
financial performance.

5. How can you relate THISarticle with the TOPICS COVEREDin class? Please
explain, analyze, and discuss in great detail …

– This article is related to the level 5 management because executive managers
have to be a level 5 leader to talk effectively strategy and facilitate its
implementation. Moreover, the determination of the strategy is one of the task of
the CSO. A CSO has to set up the objective, the scope and the advantage of the
company, and he/she is on charge on carrying out the approach
implementation. For example Netflix represents a desirable case of developing
effectively a strategy. For instance, its objective was to be the fundamental
provider of streaming services, its scope used to be customers who looked for
cheaper enjoyment and its advantage were the no late policy and its innovation
improvement on streaming services.

6. Do you see any alignment of the concepts described in THIS article with the
class concepts reviewed in class? Which are those alignments and
misalignments? Why? Please explain, analyze, and discuss in great detail

– There are several alignments between the article and class. The success of a
company’s project depends on how well understood is the strategy statement. For
example we take into consideration several commercials that had been presenting
in the Super bowl. All those commercials had an intention by showing politics
message related to the immigration, equality, and environment to try to create
conscious about those circumstances in the community. The idea is not only to
create a good strategy statement but also to maintain that strategy updated in
order to avoid rude actions from competitors. The article never mentioned how to
keep that strategy alive in well conditions, only mentioned the important keys to
implement that strategy effectively.

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 16, 2020 10:30pm

Ponce, Dailenys

Hello Lianet, this was a great post. I think you properly explained everything that
needed to be explained in regards of this article. You did a great job in structuring
this discussion post and easy to understand your points. You did a good job in
connecting the points discussed in class with points in your discussion and
explaining why. I agree with your statement that one of the most critical issues in
regards of the article is the difficulty in creating a clear and simple strategy
because without having an understandable strategy, the company might just in fact
fail. A strategy is very much needed to be able to be successful without much
bumps on the road.

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 16, 2020 10:33pm

Ponce, Dailenys

Hello Yenely, your discussion post was very well written with great explanations
per question. It was greatly structured and easy to understand. I agree with you
that one of the best practices was the activity-system map because it is a great
diagnostic tool to identify the organisations competitive advantage. It connects the
organisation’s value proposition to the activities of your organisation that enable
you to deliver this value proposition better than any competitors. Overall you did a
great job in this discussion post.

Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 8, 2020 1:30am

Resta, Lucia Maria

Module 05, Online Discussion HBR: Can you say what your strategy is?”

Executive Summary

Collis D.J. & Rukstad, M. wrote the article, “Can you say what your strategy is?”
explaining the importance of a strategy to the success of a firm and how to make
the most out of a strategy in business. The authors describe that companies that
have a simple and clear statement of strategy are unlikely to fall into regret for
failing to execute their strategy or even had one (p.84). The company needs a well-
understood strategy statement for everyone to follow as a guiding tool for making
difficult choices. Also, the writers reveal the secret that most executives cannot
develop a strategy because they do not know the elements that integrate the
strategy statement. When the strategy is clear, the formulation is smooth because
executives know what to create, and implementation is more straightforward
because it can be communicated and internalized by everyone in the business.
The three critical elements that are components of a good strategy statement are
identified by Mike Rukstad as objective, scope, and advantage. The strategy starts
when the company describes the end that the strategy is intended to achieve.

Moreover, the objective needs to have, not only an end but also a time frame to
reach it. The scope of the strategy is crucial to help define the landscape where the
business will operate. The company has to explain how they are going to complete
the objective. The competitive advantage is the spirit of the strategy. It is what the
company will be doing differently and better than others; it is how the business will
achieve its stated objectives. The advantages have external and internal
components: a statement that explains why the customer should opt for the
company’s products, and how the internal activities aligned, to be the firm the only
one to deliver the value proposition.

When the authors define an objective, they explain that companies confuse the
value statement or mission with the company’s strategic objectives. The purpose of
the strategy is to have a precise objective that will drive the business for the next
few years. The mission statement describes the motivation that a business has to
do business. This mission is not useful for strategic goals, the objectives need to
be specific, measurable, and time-bound; it should be a specific goal.

When the authors define the scope, they find three extents: customers or offering,
geographic location, and vertical integration. The scope will not tell what should be
done in a particular limit; it encourages experimentation and initiatives. Employees
must have a clear scope with specific directions on where not to go.

The advantage is the most critical aspect of the statement. The business needs
clarity on what makes the firm different from the competitor. If the competitive
advantage is clear, then the employees will help with the successful execution of

its strategy. The authors define competitive advantage in two parts: a statement of
the customer’s value proposition, and the complex combination of activities
allowing the firm alone to provide the customer value proposition (Collis, D.J. &
Rukstad, M, 2008 p.87). A simple picture of the strategic statement gives a
complete characterization that could not belong to any other company. This is the
goal. All employees have understood the statement, so the activities contribute to
the overall success of the firm and to make accurate decisions.

Finally, when we develop a strategy statement, we require to evaluate the industry
landscape. The idea is to find the “sweet spot” (p.89) that associates the firm
competences with customer needs in a way that rivals cannot follow, given the
fluctuation of external context. It can be attained by having two or three different
strategic options. Also, it is crucial to develop the strategy and shape the statement
involving employees from all parts of the company and levels of hierarchy. Precise
wording is necessary; it can be the most potent part of the strategy development
process. In the end, the statement needs to reflect the three elements of an
effective strategy, with detailed annotations and definitions of terms.

Critical Issues

One critical issue enumerated in Collis D.J. & Rukstad, M.’s article is that
most executives cannot develop a strategy integrating the objective, scope, and
advantage in a statement. The article explains how lost the leaders find themselves
when realizing that all the work invested in the annual budget or strategic planning
process to ensure competitive success is never implemented. The firm fails to have
a simple, clear, and brief strategy that everyone understands and uses to make
difficult decisions.

Another critical issue is for the company to distinguish a statement of values
or mission statements from the strategic objectives. The authors explain that the
mission statements contain the reasons that motivated the company to be in
business or the impact that the firms will bring to society. For example, Feeding
America’s mission is to “feed America’s hungry through a nationwide network of
member food banks and engage our country in the fight to end hunger” (Baylor. C.,
2019).

Finally, the authors explain that the definition of the objective, scope, and
advantage is fundamental to strategy and requires a trade-off. The trade-offs are
what strategically makes the business different from rivals. For example, if the
company’s competitive advantage comes from the scale economy, the company
will not be able to accommodate the eccentric customer’s needs.

Lessons Learned

One lesson learned in Collis D.J. & Rukstad, M.’s article is that the scope of
the business does not say what needs to be done within specific limits. The scope
inspires the business to take the initiative and experimentation. It will have to

ensure that limits are clear to all employees and where the firm or business will not
go (Collis D.J. & Rukstad, M.’s, 2008, p.86). By specifying the company where they
should not go, managers can avoid wasting their time with projects that will never
get approved because they do not fit with the strategy of the company. The author
provided a clear example of Edward Jone’s (EJ) (p.86) clarity of whom the
customer was and who was not that preserved the business out of pursuing day
trade, an activity that does not fit EJ strategy. Also, in moments of internet
expansion, EJ chose not to incorporate online trading. The company has definite
limits, so they did not have to spend time or money to come up with the decision.

The second lesson learned is that the creative part of developing a strategy
is finding the sweet spot that will unite the firm’s capabilities with the customers’
needs in a form that the rivals will not be able to copy the business given the
continuous change of the external environment. A great example can be when a
business wants to make a strategic decision to become a “cheap Red Lobster or a
fish McDonalds.” The idea is to analyze the environment and what the business
has an advantage over rivals. In the case of becoming a Red Lobster, a table
service restaurant will require a bigger space and more employees, and to become
a fish McDonald, they have drive-through services that need high-traffic locations
and smaller footprints.

The third lesson learned is that having a simple, clear strategy statement
that everyone understands can be used as a guiding tool for making difficult
choices. When the strategy is clear and well understood, the formulation is smooth
because executives are well aware of what they want to create. When this follows,
implementation is more straightforward because it can be communicated and
internalized by everyone in the business.

Best Practices

One crucial practice derived from the article is to create a statement of
customer value proposition because it will help the business identify what makes
them different from the rivals. The clarity of what makes the company distinctive is
what most helps employees understand to help with the execution of the strategy
(Collis D.J. & Rukstad, M., 2008, p.87). The strategy statement needs to be able to
explain why the customer will choose the company’s products and services over
the competitors. An example given by the authors Collis D.J. & Rukstad, M. is
“Wal-Mart,” who is value proposition is summarized as “everyday low prices for a
broad range of goods that are always in stock in convenient geographic
locations.” Using this practice, it can help the business verify if the objective was
achieved and issues with the strategy. Another essential practice is to develop the
strategy and shape the statement involving employees from all parts of the
company and levels of hierarchy. When the strategy is clear, the formulation is
smooth because executives know what to create, and implementation is more
straightforward because it can be communicated and internalized by everyone in
the business. Also, is it a good practice to create training programs as Merrill Lynch
(p.87) example described in the article. It is a great way to deliver value to the
chosen customers and develop the strategy statement effectively.

Finally, precise wording is necessary; it can be the most potent part of the
strategy development process. The capture of the strategy in a few keywords will
facilitate its understanding, and it will help employees to perform their jobs
matching the company’s strategy. In the end, the statement needs to reflect the
three elements of an effective strategy, with detailed annotations and definitions of
terms.

Topics Covered

This article written by Collis D.J. & Rukstad, M relates to various topics from
chapters in the book created by Dess, G.G., McNamara, G., Eisner, B.A., and Lee,
S.H. and with the article “The Chief Strategy Officer” made by Breene, R.T.S.,
Nunes, P.F., & Shill, W.E. (2007). Collis & Rukstad’s article remarks on the
importance of having a simple and clear statement of strategy and the need for a
well-understood strategy statement for everyone to follow as a guiding tool for
making difficult choices. Also, it is essential to develop a strategy involving
employees from all parts of the company and levels of hierarchy (p.90). Everyone
needs to know and understand the company strategy. A clear understanding will
help employees to perform their jobs matching the company’s strategy. The article
about “The Chief Strategy Officer” says that the CSO is responsible for helping the
company understand the strategies, top to down, and to drive implementation. A
CSO has to establish the objective, the scope, and the advantage of the company,
they are in charge of carrying out the strategy implementation. Also, the article of
Collis & Rukstad describes the need for creating training programs to deliver value
to the chosen customers and develop the strategy statement effectively. In the
book from Dess, G.G., McNamara, G., Eisner, B.A., and Lee, S.H, chapter 4, p.
110, when it talks about developing human capital, explain that training and
development must take place at all levels of the organization. It is an obligation the
employer has with the employee; If the business wants to deliver value to the
chosen customers, they need to be trained to develop the strategy statement
effectively.

Moreover, the book of Dess, G.G., McNamara, G., Eisner, B.A., and Lee,
S.H chapter 5, talks about the use of combinations of strategies that is the firm’s
integration of various strategies to provide multiple types of value of customers
(p.152). In the article of Collis D.J. & Rukstad, they talk about the “sweet spot”
(p.89) that associates the firm competences with customer needs, and it can be
attained by having two or three different strategic options.

Alignment of Concepts

Indeed there is an alignment of concepts used in the article and the material
of the online class. In the article by Collis D.J. & Rukstad, the authors explain that
employees have to understand the strategy statement, so their activities contribute
to the overall success of the firm and to make accurate decisions. Companies that
have a simple and clear statement of strategy are unlikely to fall into regret for
failing to execute the strategy. The same is remarked in the article “The Chief

Strategy Officer” when the authors Breene, R.T.S., Nunes, P.F., & Shill, W.E.
(2007) talks about the role of the CSO, all employees at all levels of hierarchy need
to understand the strategy to be able to apply it in connection with the mission,
vision, and goals of the company.

Moreover, Collis & Rukstad makes clear that competitive advantage is the
essence of the strategy. It means that the stated objectives will be achieved if the
business provides services of products differently from or better than others. The
book of Dess, G.G., McNamara, G., Eisner, B.A., and Lee, S.H talks in chapter 1
talks about competitive advantage. The authors explain that sustainable
competitive advantage is possible only by performing different activities from rivals
or similar activities in different ways (p.7). An example that all authors agree on is
Walmart. This retailer has developed a unique, internally consistent, and
challenging to imitate activity system that provided them with a sustained
competitive advantage. A company with a good strategy will make clear choices
about what it wants to achieve.

References:

Baylor, C. (September 20, 2019). 18 Captivating Mission Statement Examples You
Need To Read. Retrieved from:

https://www.bluleadz.com/blog/15-of-the-very-best-mission-statement-
examples

Breene, R. T. S., Nunes, P. F., & Shill, W. E. (2007). The chief strategy officer.
Harvard business review, 85 (10), 84.

Dess, G.G., McNamara, G., Eisner, B.A., and Lee, S.H(2019). Strategic
Management: Text and Cases, 9th Edition

McGraw-Hill | ISBN-13: 9781259813955

Collis, D.J. & Rukstad, M, (2008). Can You Say What Your Strategy Is? Retrieved
from:

https://stu.instructure.com/courses/19804/files/758806/download?wrap=1

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 11, 2020 12:16am

Resta, Lucia Maria

Hi Minaja,

Thank you for sharing your view of the article. The part I want to
discuss with you further is critical Issues. There is a critical issue described by Mike
Rukstad in the article that explains that executives are not knowledgeable about all
the elements of the strategy statement. Those elements considered critical
components of the strategy statement are objective, scope, and advantage. Since

executives are not able to articulate these elements, and they are not crystal clear
about them, they find themselves surprised when work invested in the annual
budget or strategic planning process is not implemented. The statement, as you
also agreed, has to be clear, and employees at all levels of hierarchy need to
understand the strategy to be able to apply it in connection with the mission, vision,
and goals of the company. Moreover, the statements need to be written with
detailed wording; this can be the most potent part of the strategy development
process (Collis D.J. & Rukstad, M.’s, 2008). The elements have to be integrated
into the strategy statement with precise annotations and definitions of terms.

Reference:

Collis, D.J. & Rukstad, M, (2008). Can You Say What Your Strategy Is? Retrieved
from:

https://stu.instructure.com/courses/19804/files/758806/download?wrap=1

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 11, 2020 1:12am

Resta, Lucia Maria

Hi Golda,

Thank you for sharing your view of the article. The part I want to discuss
with you further is lessons learned. I agree that one lesson learned in Collis D.J. &
Rukstad, M.’s article is that the scope has to be specific about where the business
wants to go. The scope inspires the business to take the initiative and
experimentation; it will not tell you what the company needs to do, but it has to
ensure that the limits are clear to all employees. An example is Edward Jone’s;
they have a clear understanding of the business strategy. In moments of internet
expansion, Edward Jone’s chose not to incorporate online trading because it was
an activity that did not fit the strategy. When the company has definite limits, they
will not have to spend time or money to come up with the decision. Another lesson
learned from the article is that developing a strategy is finding the “sweet spot”
(Collis D.J. & Rukstad, M, 2008, p.89). It is attained by connecting the company’s
capabilities with the customer’s needs in a way that the rivals cannot copy them
and with the help of a dynamic external environment. The association of the firm’s
competences with customers’ needs can be obtained by creating two or three
different strategic options.

Reference:

Collis, D.J. & Rukstad, M, (2008). Can You Say What Your Strategy Is? Retrieved
from:

https://stu.instructure.com/courses/19804/files/758806/download?wrap=1

Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 9, 2020 6:34pm

Stringer, LaKenya

1. Executive Summary for THIS article.

In the article, Can you say what your strategy is, written by David J. Collis and Michael G.

Rukstad, it is explained that executives cannot clearly emphasize their company’s core

strategy, and since they are unable to do so, it is very well likewise that others within their

organization will not be able to decipher it clearly as well. Because these executives and

other stakeholders are unable to effectively illustrate what truly drives their company’s

strategy, they cannot efficiently enforce the execution of the strategy to become successful.

It is understood that successful business strategies are precise and succinct, and these

business characteristics are very uncommonly used. The main objective of operation is

what differentiates a company from its competitors, and having a sound strategy that is held

by everyone representative to the organization will benefit the implementation of the

strategy far greater than simply applying a company’s vision or mission statement. It is

vital that every successful strategy be executed in alignment with the characteristics and

behaviors of setting forth specific priorities, and concise decisions that are beneficial to the

organization as a whole. Objective, scope and advantage, are the three main elements

necessary to assert the correct level of strategic enforcement. A clear objective provides the

ideal end result in relation to the utilization of the strategy put into action and a realistic

idea of how much time it will take in order to accomplish the goal. The scope presents a

distinct arena of where the company will compete within the market and industry in which

an organization will take action. The advantage will be the differentiator as to how the

organization will do to illustrate a segmented clarity of how the strategy will be

implemented.

2. Which are the three most CRITICAL ISSUES of THIS article? Please explain why?

and analyze, and discuss in great detail.

• Companies that don’t orchestrate a clear and simple strategic statement to build from,

run the risk of failing to execute an effective and productive strategy that can be made

to direct the organization in the right direction. Any organization can rightfully benefit

from making the best efforts toward implementing the most concise strategic plan for

its stakeholders to follow and execute.

• On a profound level, there are organizations that have very frustrated and disgruntled

executives, front-line employees and stakeholders that need some form of precise and

clear strategy to follow and make the best of its line of business. The most pertinent

objective for an organization to give to its employees is to formulate and foster the

ideals most beneficial to its achievement of success.

• In light of complex situations, leaders especially do not provide the most

comprehensive and ideal firm strategic statement for the organization to follow.

Leaders need to provide a clear statement for an assessed strategy that the organization

can internalize and guide the organization correctly. A leader must take the initiative

to devote him or herself to the organization’s strategic reinforcement and give his or

her followers the opportunity to understand what is most important in terms of the

organization’s success and how to accomplish set goals.

3. Which are the three most relevant LESSONS LEARNED of THIS article? Please

explain why? and analyze, and discuss in great detail.

• A creatively formulated and descriptively expressed strategy provides precise aligned

behavior within the business. This formulation allows each stakeholder within the

business the opportunity to personally take into account the necessary reinforcements

needed to encourage and support one another, thereby making the organization much

more effective.

• The mere definition of what a firm’s competitive advantage consists of comes in two

parts. The first being a concise statement of the customer value proposition. A

strategic statement that cannot explain fully exactly why an organization’s customers

should buy its product or service is potentially going to fail ultimately. Creating a

comprehensive graphic mapping how the organization’s value proposition competes

against rival companies can be extremely useful and simple in attempting to identify

what makes the organization distinctive. The second part of the statement of

advantage entails a unique set of activities or a complex combination of specified

activities that allow an organization to actually deliver the customer value proposition.

This is where the strategy statement makes a consistent selection of appropriate

configurations on how the organization will implement the set of success-oriented

activities.

• Success oriented organizations should implement statements that ultimately provide

the ethical values which they will operate, however, this does not complete the task of

creating a strategic objective. An organization’s mission statement describes in a

profound manner, the underlying motivation at which the organization is set to do

business and its reasons of why and how it aspires to contribute to society.

4. Which are the three most important BEST PRACTICES of THIS article? Please

explain why? and analyze, and discuss in great detail.

• It is a internalize truth that most executives don’t actually know what all the elements

of a strategy statement are, this makes it impossible for them to ever develop one.

With a clear definition, two things can happen: the formulation can become more

infinite and, simple for executives to know what they are trying to create. Also, the

implementation of a strategy becomes much easier due to the core vision to be

realistically communicated and easily internalized by everyone in the organization.

• The three critical elements of a sound strategy statement for an organization to have is

a selected objective, scope, and advantage, and to promote these to its executives,

managers and front-line employees in a seamless and orderly fashion. These simple

components sufficiently cultivate an organization’s primary strategy and formulates a

competitive playing field within the organization’s market or industry sector.

• An organization’s competitive advantage is the core nucleus of its strategy, it explains

how it will differentiate itself from its competitors and clearly defines the means in

which it will achieve the overall objective. This prepares a competitive advantage that

is complementary to each external and internal component of the organization. An

organization’s value proposition provides an explanation as to why its target consumer

should consider purchasing its product rather than that of its competitors, and give a

clear description of an account as to why internal activities must be streamlined. This

makes a guarantee that the organization will deliver regarding its value proposition.

5. How can you relate THIS article with the TOPICS COVERED in class? Please

explain, analyze, and discuss in great detail.

In direct relation to the concept of change influencing an organization’s strategy, in chapter

8 of the required textbook, Strategic Management Text and Cases it states that, “managers

need to have a strong base of experience and extensive domain knowledge as well as an

ability to make rapid decisions and change direction as shifting circumstances may require.

New ventures that are started by teams of 3, 4, or 5 entrepreneurs are more likely to

succeed in the long run than are ventures launched by lone wolf entrepreneurs. The ability

of firms to extend their human capital base to outside partners is an especially important

skill in the gig economy, platform firms in this market will only succeed if they can deliver

gig workers who deliver a high- quality service”. The statement in the article validates the

precedent statement in precise relation to the point by stating, “the first step is to create a

great strategy, which requires careful evaluation of the industry landscape. This includes

developing a detailed understanding of customer needs, segmenting customers, and then

identifying unique ways of creating value for the ones the firm chooses to serve. It also

calls for an analysis of competitors’ current strategies and a prediction of how they might

change in the future”.

6. Do you see any alignment of the concepts described in THIS article with the class

concepts reviewed in class? Which are those alignments and misalignments? Why? Please

explain, analyze, and discuss in great detail.

In alignment with the idea of how competition can promote an advantage or a disadvantage

to a business, the article states, “when the strategy statement is circulated throughout the

company, the value proposition chart and activity-system map should be attached. They

serve as simple reminders of the twin aspects of competitive advantage that underpin the

strategy. Cascading the statement throughout the organization, so that each level of

management will be the teacher for the level below, becomes the starting point for

incorporating strategy into everyone’s behavior”. This is in direct alignment with the

statement made in chapter 8 of the required textbook, Strategic Management Text and

Cases, “a focus strategy may include elements of differentiation and overall cost leadership

as well as combinations of these approaches but to be successful within a market niche the

key strategic requirement is to stay focused. Despite all the attention given to fast growing

new industries most start-ups enter industries that are mature. In mature industries, growth

in demand tends to be slow and there are often many competitors, if a start-up wants to get

a piece of the action is often to take business away from an existing competitor”.

References

Collis, D., Rukstad, M. (April 2008) Can You Say What Your Strategy Is? Retrieved

from https://eclass.aueb.gr/modules/document/file.php/DET162/Session%201/Can%20you

%20say%20what%20your%20strategy%20is.pdf (Links to an external site.)

Dess, G., Eisner, A., Lee, S., McNamara, G. (2019). Strategic Management Text and

Cases (9th edition)., New York, NY. McGraw-Hill Education.

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 12, 2020 10:30pm

Stringer, LaKenya

Hi Minaja, I agree that the main and most critical issue explained in the article was that of

organizations failing to formulate, implement and illustrate a concise and seamless strategy

in which its employees can exercise and execute. The organization that chooses not to make

a clear strategy available to everyone involved, has completely provided them with an

ultimate disservice, and ultimately the firm will most definitely suffer in the long run. The

scope aspect maintains the idea of a sound speculation of what can occur as far as a likely

outcome of a successful strategy for a company. The scope provides clear boundaries that

provide a firm wide understanding of what is expected and what needs to be done, in light

of what is needed by the firm. The scope is a very necessary aspect of creating the best

strategy that an organization can implement because it guides and directs the mission

statement and vision that the firm will set forth. I also agree with the fact that a strategy

statement will propel any organization toward giving all that is needed to all involved

including its consumers, employees and shareholders.

from Module 05, Online Discussion HBR: Can you say what your strategy is?”
Feb 12, 2020 10:47pm

Stringer, LaKenya

Hi Lucia, I agree that the scope may be the most intricate and beneficial aspect of
formulating an organization’s strategy. By allowing the scope to provide a clear
catalyst of what is most beneficial, it gives the organization the best advantage
toward being successful for the long term. It is ideal that an organization exercise
all that is necessary to clearly set forth what is needed to confirm the scope of its
strategy. Having a clear and focused directive as to where the firm is going and
how its going to get there, will give a fostered understanding to its employees. In
order to promote the organization’s strategy, its mission statement must articulate
the firm’s anticipated success parameters, then propel its stake holders and
employees to rally into the notion of doing all that is necessary to force it into
fruition. A specific and firm goal should be assessed in order for a mission
statement to be implemented effectively, and it should be an organization’s chief
center of business to make it a measurable and incomparable means that is time
oriented and completed correctly. The goal of an organization is the main aspect of
the big picture for the firm, and it should force employees to execute the details of
the firm’s strategy accordingly and efficiently.

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