Before you answer that question, you may benefit from watching “What is Strategy?”, a short video with Harvard professor Michael Porter:
Interesting video, isn’t it. After watching it, can you now distinguish between operational effectiveness and strategy? You can read more on Michael Parter’s view on the subject in Harvard Business Review’s article “What is strategy?”
Do you agree with Professor Porter that competitive strategy is “about doing things your way”? About differentiating yourself to the customer, adding value that makes you distinguishable from your competitors? To simplify it, do you agree with him that strategy is both plan and position? Or would you simply define strategy as a method worked out in advance for achieving some objective? Now it’s time to answer the question posed in the headline, what’s your strategy? By the way, did you know that strategy is a concept that has been borrowed from the military?
Video: Hung Le – Picture: Shared Value Initiative