Your strategy describes your competitive game plan—how you are going to position your company in the marketplace to gain a sustainable, competitive advantage that will allow you to earn above-average rates of return on your investment. In this chapter, we will look at a simple model for thinking about your strategic options and examine some fundamental principles for developing a distinctive strategic position. The goal is to construct a clear strategy that everyone in your business can understand, internalize, and use as a framework for decision making in pursuit of your mission.
A Basic Model for Strategic Positioning
At the simplest level, two decision elements describe a firm’s strategy: (a) the basis for competitive advantage ...