Enterprise Strategy Defined

Strategy is a set of decisions and actions aimed at gaining a sustainable competitive advantage.

Role of Enterprise Strategy

Successful companies are those that focus their efforts strategically. Strategy should be a stretch exercise, not a fit exercise. To meet and exceed customer satisfaction, your business team needs to follow an overall organizational strategy. A successful strategy adds value for the targeted customers over the long run by consistently meeting their needs better than the competition does.

Strategy is the way in which a company orients itself towards the market in which it operates and towards the other companies in the marketplace against which it competes. It is a plan an organization formulates to gain a sustainable advantage over the competition. The central strategic issue: why different companies, facing the same environment, perform differently.

Corporate strategy seeks to develop synergies by sharing and coordinating staff and other resources across business units, investing financial resources across business units, and using business units to complement other corporate business activities.

Strategy answers the following questions:

• what are the sources of the company's sustainable competitive advantage?

• how a company will position itself against competition in the market over the long run to secure a sustainable competitive advantage?

• what are the key strategic priorities?

Enterprise strategy is an agreed-on guide to action that should lead business to success in the marketplace by satisfying customer needs better than the competition does. Strategy formulation is the major task for the company entrepreneur and CEO, but it is the task of middle managers and project managers to carry this strategy out and turn it into results.

Balanced Strategy

Sustainable growth strategy requires balancing short-term results against long-term capabilities and growth opportunities.

Strategy Innovation: Evolution of a Successful Strategy

Strategy should by dynamic and change constantly in order to contend with external turbulences. Experimenting with new strategies is important. Constant testing, adaptation and building on what is found to be successful with customers is the way ahead, especially when you are trying to re-invent the value provided, or the way it is produced and delivered.