3 Approaches to Business Strategy
Thought Leader: LaSharnda Beckwith, Ph.D.
What's the strategy for the organization where you work? Every organization needs a strategy and there are 3 approaches to forming this strategy.
Most organizations are internally driven, which means that their strategy is driven by what they have done in the past; their thinking is inside out. The weakness with this strategy is that organization members are not anticipating changes that are happening in the marketplace.
Customer-driven organizations are those who try to by close and ready to listen to the customer. The problem with approach is that these organizations end up trying to be “all things to all people.”
Lastly, Market-driven organizations base their strategy on making conscious choices about which markets they will serve and how they will add value. High performance organizations not only participate in the strategy process, they also understand which strategy will propel their organizations forward.
What do you think about this? What type of strategy does your business or organization implement? Let us know your thoughts by commenting below.
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