There are certain basic fundamental principles underlying every successful strategy. By understanding these principles, any manager can craft a successful strategy.
The exuberance of the 1990s was followed by a painful period of uncertainty from 2000. The Internet boom that unleashed entrepreneurs backed by venture capitalists had given way to dotcom busts. The business confidence had swung from exuberance to cynicism in a span of two years. What are the right goals for a firm? How do you design a business to capture value for its various stakeholders like customers, owners etc.? How do you organize?
What does your company do better than anybody else? What unique values do you provide to your customers? How will you increase those values next year? As customers' demands for the highest quality products, best services, and lowest prices increase daily, the rules for market leadership are changing. Once powerful companies that haven't gotten the message are faltering, while others, new and old, are thriving. There are certain basic fundamental principles underlying every successful strategy. By understanding these principles, any manager can craft a successful strategy. While the principles form the science, the art is about asking the right questions, exploring possible alternatives, experimenting with possible solutions and starting with the thinking process all over again. |
