Differntiate your company strategy

There are several ways to summarize your company’s strategy, but in the same time we should know what is the successful tool or road map to identify the right framework for this strategy? It is our experience that very few executives can honestly answer these simple questions in the affirmative. And the companies that those executives work for are often the most successful in their industry. 

Conversely, companies that don’t have a simple and clear statement of strategy are likely to fall into the sorry category of those that have failed to execute their strategy or, worse, those that never even had one. In an astonishing number of organizations, executives, front line employees, and all those in between are frustrated because no clear strategy exists for the company or its lines of business. The kinds of complaints that abound in such firms include.

• “I don’t know whether I should be pursuing this market opportunity. I get mixed signals from the powers that be.”

• “Why are we bidding on this customer’s business again? We lost it last year, and I thought we agreed then not to waste our time chasing the contract!”

• “Should I cut the price for this customer? I don’t know if we would be better off winning the deal at a lower price or just losing the business.”

For instance, if you are planning to enter the restaurant business, will you provide sit-down or quick service ( just take away)? Also we you should know what type of food will you offer—Arabic, French or Italian? If you are living in Dubai for example you should keep in mind what geographic area will you serve? Alone, these two aspects of strategy are insufficient. 

You could go into business tomorrow with the goal of becoming the world’s largest cafe chain within 6 years. But will anyone invest in your company if you have not explained how you are going to reach your objective? Your competitive advantage is the essence of your strategy: What your business will do differently from or better than others defines the all-important means by which you will achieve your stated objective. 

Therefore, drawing a clear sketch about your business strategy in terms of basic framework (customer, company and competition) is considered a key role in build a your future business pathway.

Written by Yasser Al Mimar ..