Business Strategy Defined

1. Planning through PerformanceSM
Business Strategy Defined
A Planning through Performancesm
Slide Presentation
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2. Planning through Performancesm
Discussion Areas
1. Definition of Business Strategy
2. Key Elements of a Business Strategy
3. Example & Analysis of a Business Strategy
4. Editorial
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3. Planning through Performancesm
Definition of a Business Strategy
A business strategy specifies the way a
firm competes in an industry.
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4. Planning through Performancesm
Key Elements of the Business Strategy Definition
1. The Way a Firm Competes—Objectives
2. The Way a Firm Competes—Actions
3. The Industry in Which a Firm Competes
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5. Planning through Performancesm
Example of a Business Strategy—Edward Jones
“Grow to 17,000 financial advisors by 2012 by
offering trusted and convenient face-to-
face financial advice to conservative
individual investors who delegate their
financial decisions, through a national
network of one-financial-advisor offices.”
Source: Collis, D. and Rukstad, M., Can You Say What Your Strategy Is?, Harvard Business Review, April 2008.
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6. Planning through Performancesm
Analysis
The Industry Financial Services
Grow to 17,000 financial advisers by 2012
The Way
(Objectives)
Offering trusted and convenient face-to-
The Way
(Actions) face financial advice to conservative
individual investors who delegate their
financial decisions, through a national
network of one-financial-adviser offices
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7. Planning through Performancesm
Editorial
1. Pick a definition for use by your team
2. Don’t get lost in the jargon
3. Try to keep your strategy statement simple—and actionable
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8. Planning through Performancesm
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Planning through Performancesm
StrategicPlanning
StrategicDecision-Making
StrategicPerformanceManagement
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