PART THREE
Strategy and organisation
A firm’s strategy explains where it is going and how it intends to get there – it involves figuring out where to play (which products to sell to which customers) and how to play (how it positions itself against its competitors).
There are many, many views about how to define strategy – the famous management thinker, Henry Mintzberg, once identified ten different perspectives. This section focuses on the most well-known models and frameworks.
The most well-known view is the one proposed by Michael Porter at Harvard Business School in 1979: a firm should define its strategy by first of all understanding the structure of the industry it is competing in (using the ‘five forces analysis’), and then choosing a position ...
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