Can you say what your strategy is?

By David J. Collis and Michael G. Rukstad

Articles Purpose:

The purpose of this article is to inform the author of the importance of a company’s strategic statement as well as provide the author with the tools to produce a proper strategic statement.

What is a Strategic Statement?

A strategic statement is segment of a general company statement. I think in order to product a proper Strategic Statement, the remaining segments of a company’s statement must first be established. The segments of a Company Statement include: a mission, values, vision, strategy and a business score card. Our focus is a Strategic Statement which should include an objective, scope and advantage.

What do we include in a Strategic Statement?

An Objective will not be the same as a mission statement, it will be the sole factor driving the company for the next 5 years. The Scope will include the geographic location, the vertical integration and the customer. The Advantage is the most important part of a strategic statement. It includes what the organization offers to the customer and the advantages it offers to the customer that sets it apart.

Keep it simple:

We determine our domain, and use our advantage as our means of achieving our objective.

I think that this article is very informative and ultimately educates the reader of a major part of a company’s statement and that it is simple to produce one effectively.