A recent study by the strategy research wing of PwC confirmed that eighty percent of top executives feel that their company’s corporate strategy is not uniformly understood within. An even greater percentage feels that major opportunities were being missed due to not possessing a winning strategy. A book written The Essential Advantage: How to Win with a Capabilities-driven Strategy talks about some enterprises which had a clear, coherent identity around which the overall strategy was drafted. Traditionally businesses have measured themselves by focusing on growth, pursuing functional excellence and reorganizing to stimulate change. They have tried to cut costs by going lean with agility and resilience being recently added up to the roster of skills required. Instead, the newer more innovative companies are starting off by committing to a unique identity. They are using this strategy developed to gain competitive advantages on daily basis. The culture is being used for best talent management and retention practices. Costs are being cut, but to grow stronger. Finally, these companies are anticipating business trends, to shape their future.

Source:https://www.strategy-business.com/feature/Creating-a-Strategy-That-Works?gko=5d483

Uploaded Date:13 February 2018