STRATEGYAn Executive’s Definition

Pranay SanghaviAdapted from s+b

What is a Business Strategy?Adapted from Ken Favaro with Kasturi Rangan and Evan Hirsh

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So, what is it?Strategy is different from Vision, Mission, Goals, Priorities and Plans

It is the result of the choices executives make on

1. Where to play

2. How to win

to maximise long-term value

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In life, just remember these two points

1. Where to Play

A. Your Target Market

B. Needs to be served

Lets get to each of them one by one

Where to Play specifies

Where the target customers are

How they buy

Who they are

When they buy

What they buy

For whom they buy

2. How to WinA. Value proposition B. Capabilities

the second guy..

How to Win specifies

Value proposition that will distinguish your business in the eyes of the target customers

Capabilities that will give it an essential advantage in delivering that value proposition

In the end…To define the fundamentals of your business strategy, you need only answer 3 questions:

1. Who is the target customer?

2. What is the value prop to that customer?

3. What are the essential capabilities needed to deliver the value prop?

@pranaysanghavi