Hi, I’m Gary Brown a FocalPoint business coach.
Welcome to episode 15 of BIZBUZZ.
I stimulate conversations in order to challenge business owners to Be Different and to Act Boldly.
The following video highlights some content from Strategy Pure & Simple, written by Robert Michel. This is a book that is about strategy development.
I’ve chosen to comment on Strategy Pure & Simple, a book written by Robert Michel that deals with strategy development.
I am going to comment on three ideas that are developed by Michel.
The first is that profit is the outcome of strategy, not its objective. I think that this bears repeating. Profit is not the objective of strategy but rather the outcome. This is interesting to me because I think that most of us assume that profit is the brass ring that we all chase.
Secondly, Michel refers to ten strategic areas that need to be considered. They are:
1. Product/service concept
2. User/customer class
3. Market type/category
4. Production capacity/capability
5. Technology/know-how
6. Sales/marketing method
7. Distribution method
8. Natural resources
9. Size/growth
10. Return/profit
He contends that generally one of these ten strategic areas will be the one that propels a company towards it future success.
My third choice is humourous but nevertheless salient. That is that the ability of people to execute a CEO’s strategy is inversely proportionate to the length of the strategic statement. This is clearly a case of less is more.
Well, that’s it for Strategy Pure & Simple.
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