BUSINESS STRATEGY PRINCIPLES EVERY LEADER SHOULD KNOW !!!
1 . Business Strategy = compete to be unique, not to be the best Strategy is not about being the best, but about being unique. Competing to be the best in business is one of the major misconceptions about strategy. And if you only remember one tip from this list, it should be this one. Many leaders compare competition in business with the world of sports. There can only be one winner. But competing in business is more complex. There can be several winners. It does not have to be a zero sum game – you win, I lose or vice versa. Within a single industry, you can have several companies beating the industry average, each with a distinctive, different strategy. They are no direct threat to each other. There can be several winners. So the worst possible approach to strategy is to seek out the biggest player in the industry and try to copy everything they do. 2. Business Strategy = compete for profit Business is not about having the largest market share or about growing fast. ...