Practical Strategy
Helping to demystify strategic management theory and practice for students and practitioners alike.
Most recent stories in Practical Strategy
CHAPTER: VISION, MISSION AND GOALS
An example of a company that sticks to a differentiation strategy. Their point of differentiation is "quality". For an overview of Porter's generic strategies: http://en.wikipedia.org/wiki/Porter's_generic_strategies
This short article provides a sense of why it is important to have vision and mission statements. It's more than just corporate promotion, a clearly defined vision and mission statement(s) can help an organisation to achieve superior performance. Question: how many vision and mission statements can you remember? What is the difference between these and the phrases organisations use to promote themselves?
How often has there been significant, discontinuous change? What would you do if you could see it coming? This short video of a new movie called "Out of Print" looks at the future of books. When you watch this video, can you see the entrenched positions of the advocates for e-books vs. the interests represented by traditional publishing? As a strategist, who would you put your money on, and why?