[전략이야기] Thoughts on strategy development - Strategy should be extremely simple while the development content and analysis can be hard efforts - Strategy should clearly lay out what we will do and what we would not do - Strategy should define what we will do, what we would not do and what we stop doing - Simplicity wins in strategy; everyone can rally to the same direction - Why and how is more important than what to do. - Measurement should be aligned to the strategy - Industry landscape influences significant portion of corporate performance - While wholesale business can be scope economy, retail business usually is local scale economy - Without concerted efforts, alignment does not happen automatically. - Solving individual problems does not bring the real improvements, unless related critical eco-system issues are all solved. Therefore simply focusing on a few big issues would not be enough to bring the results wanted.Strategy should clearly define where we will participate (country/geography, product, segment, channel, outsourcing vs. in-sourcing), and how we will differentiate. - Logic behind where to participate should base on industry performance, best performers, our past performance (hence our capability). For example, bank performance is heavily influenced by market share (10% scale play, 2~10% range can be profitability trap) - Strategy should be translated into short list of “collective” agenda, real actions to be taken to make real differences. Collective agenda means aligned action points rather than collection of agenda.
Posted on: Sat, 24 Aug 2013 04:11:15 +0000
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