1. Strategy and Value Exchange: Two things that make your decisions strategic
Strategy is a set of measures to strengthen a business long-term.
A company becomes more potent when it satisfies the needs of its key stakeholders:
– Customers
– Employees
– Business partners
– Shareholders
If the firm meets their needs, they are more likely to participate in the value exchange and create more value for it.
A decision becomes strategic if:
[1] It helps create value for two or more stakeholder groups [2] It lays a foundation for creating such value in the future.2. Strategy-related terms: How to strategize the future of your business
Good doctors treat diseases, rich doctors invent them.
In business, such ‘doctors’ have come up with VUCA, BANI, and even the TUNA world just to sell us a cure.
The world is changing. But it’s changing slower than it might seem and unevenly.
When you strategize for the future of your business, try dividing everything important for your business into three groups:
[1] Things that will definitely change. You can’t predict how they’ll change, so stay as adaptive as possible. [2] Things that definitely won’t change. Use them as a bedrock for your long-term strategy. [3] Things you want to change yourself. They will help you execute your strategy.This approach helps you see the future in a more structured way.
Check out my book, Red and Yellow Strategies: Flip Your Strategic Thinking and Overcome Short-termism
Svyatoslav Biryulin
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