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The game plan

Strategy is the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals.

Strategic planning is one of the most challenging – and exciting – exercises an organization can undertake. Strategic planning allows an organization to make fundamental decisions or choices by taking a long-range view of what it hopes to accomplish and how it will do so. A strategic plan is built on a thorough analysis of the organization’s existing structure, governance, staff, program or service mix, collaborations, and resources. This analysis is vital because it allows an organization to perceive which of its above aspects it must change in order to achieve its goals.

Strategy execution is the other half of success, and this is where even the best strategies fail.


The 2 Strategies

There are two types of strategy. One is market-competing strategy that focuses on beating rivals in existing markets – what we think of as red ocean strategy. The other is market-creating strategy that focuses on generating new markets which we think of as blue ocean strategy.

while both types of strategy have their role to play, when it comes to growth resilience blue-ocean market-creating moves stand out. They not only unlock a growth edge when economic conditions are favorable, they also generate resilient growth in the face of business cycle downturns and unfavorable economic conditions. How so?

When economic conditions are favorable, all firms benefit by the rising tide. The market-creating firms — and the leap in consumer surplus they unlock through their innovative value — that gives them a growth edge, as they not only capture a greater share of rising demand, but also pull new buyers into the market.

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