Monty's Business Minute: Strategy
My topic this morning is strategy… in a minute!
Let’s start with a definition of strategy. One of the best definitions I know comes from Michael Porter. He says:
A strategy describes how a company creates a unique and valuable position through a set of differentiating actions.
So, strategy describes how your company has made itself unique and valuable in your industry through the differentiating actions you have decided to implement.
Your business might offer the same products or services as another company, but it will compete to be unique…not the best.
The more you compete to be unique and not the best, the more likely it is to succeed.
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