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How to Create Uncontested Market Space and Make the Competition Irrelevant. (W. Chan Kim & Renée Mauborgne)
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Strategy is an organised set of initiation programmes and projects undertaken in order to achieve the organisation’s vision. (Schmidt T., 2009). Strategy is a series of prescriptions that provide the means and set the general direction for accomplishing organisational goals, objectives, and mission. (Cleland & King, 1983). Strategy is the means by which individuals or organisations achieve their objectives. Strategy is focused on achieving certain goals and critical actions involve the allocation or resources. Strategy implies consistency, integration or cohesiveness of decisions and actions. Strategy must embrace flexibility and responsiveness. (Grant R.M., 2010). Project strategy is the definition of position, the means, and the guide-lines of what to do and how to do it, to achieve the highest competitive advantage and the best value from the project. (Shenhar A. J., 2007)
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For a strategy to be successful, it must be consistent with the firm’s external environment and internal environment, its goals and values, resources and capabilities, and structures and systems.
The most important part of the strategy is competitive advantage which articulates why the customer will buy the product/service and why it is better than alternatives. Due to the important roles in facilitating many aspects of business the tactical alignment is imperative to ensure the execution of the business strategy.
In addition Shenhar et al (2007) described that a good strategy involves both effectiveness and efficiency. Hence, project strategy is about effectiveness in making the right choices that define the product in the best way and also about efficiency in executing projects in the right way. Project management strategic alignment can be defined as follows:
“Alignment of project management and business strategy is an internal collaborative state where project activities continually support the achievement of enterprise strategic goals. Such alignment should be conducive to the following:
Shenhar et al (2007) further suggested that strategic alignment may be seen as the integration of these three dimensions: (a) strategic focus, (b) operational efficiency and (c) team leadership. The extent of project focus on each dimension defines the level of strategic maturity and higher levels of strategic maturity are associated with higher levels of project success.
Strategic Fit; Strategic fit notion if the link between the firm’s internal environment and its external environment. For a strategy to be successful, it must be consistent with the firm’s external environment, and with its internal environment; its goals and values, resources and capabilities, and structures and systems. (Grant, 2010)
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A Good Strategy has essential logical structure and contains (i) a diagnosis, (ii) a guiding policy, and (iii) coherent action. (Rumelt, Richard. 2011) The guiding policy specifies the approach to dealing with obstacles. The coherent actions are feasible coordinated policies, resource commitments and actions designed to cary out the guidng principles. Coherent strategy coordinates the policies and actions is a source of strength. New strengths are created by the subtle shift in viewpoints.
A Bad Strategy is a false edifice built on mistaken foundations, business leaders have avoided active analysis of the obstacles and have mistakenly treated strategy work as an excercise in goal setting rather than problem solving. (Rumelt, Richard. 2011)
Business Stategy is concerned with how the firm competes within a particular industry or market. The firm must establish a competitive advantage. (Grant R.M., 2010)
Corporate Strategy defines the scope of the in terms of industries and markets in which it competes. Corporate strategy decisions include choice over diversification, vertical integration, acquisition and new ventures, allocation of resources. (Grant R.M., 2010)
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Strategic Change is any change in the strategic intentions and plans of the organisation that can impact the contents of component definition, categories, filters, key indicators and other decision-making parameters used for portfolio management. (The Standard for Portfolio Management, 2008)
Strategic Directive is a document that formally expresses the organisation’s concept, vision and mission for the programme and its expected benefits. It may be written either at a high level or detailed. (The Standard for Programme Management, 2008)
Strategic Goals is the definition of an organisation’s intended achievements in terms of business results interpreted from various perspectives; financial, customer, infrastructure, products and services or by cultural outcomes that are measurable. (The Standard for Portfolio Management, 2008)
Strategic Plans is a high-level document that explains the organisation’s vision and mission, plus the approach that will be adopted to achieve this mission and vision, including specific goals and objectives to be achieved during the period covered by the document. (The Standard for Portfolio Management, 2008)
Intended Strategy; Strategy conceived by top management by negotiation, bargaining and compromise. (Grant R.M., 2010)
Emergent Strategy; A strategy that is gradually shaped over time and based on experience rather than theoretical positioning. (Slack et al, 2007)
Realised Strategy; The actual strategy implemented and is partly related to what was intended. (Grant R.M., 2010)
Response Strategy; A high-level approach to address an individual risk or overall project risk, broken down into a set of risk actions. (Practice Standard for Project Risk Management, 2009)
Operations Strategy; The overall direction and contribution of the operation’s function with the business; the way in which market requirements and operations resource capabilities are reconciled within the operation. (Slack et al, 2007)
Information Systems Strategy; Determination of the most appropriate processes and resources to ensure that the information provision supports business strategy. (Bocij P. et al, 2008)
Information Technology Strategy; Determination of the most appropriate technology infrastructure comprising hardware, networks and software applications. (Bocij P. et al, 2008)
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Financial Post – Strategy
http://business.financialpost.com/category/executive/strategy/?__lsa=74026a5e♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦
See Also Blog; Strategy
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CAPRIVI CONSULTANCY 
The Nine most Impactful Strategies that have a significant impact on success:
1] Persistence over the long haul.
2] Monitor your progress to know exactly how far still to go.
3] Get a crystal-clear idea of exactly what success will look like.
4] Act on Your Goals and know in advance what & when & where you will do it.
5] Focus on What You Will Do and replace bad habits with better ones.
6] Build your Willpower and get more from using it.
7] Focus on Getting Better by thinking about your goals as opportunities to improve.
8] Be a Realistic Optimist by visualizing how you will make success happen by overcoming obstacles.
9] Don’t Tempt Fate and don’t push your luck.
Persisting is something we learn to do, when we realize how well it pays off.
Motivation will be difficult if there is not a clear sense of where we are now and where & when we want to finish. Monitoring is essential for others’ performance, and yet more important for our own.
People who focused on “being good,” are less likely to use the other tactics. If you do a lot of “be good” thinking, you are less likely to be gritty or have willpower, and are more likely to tempt fate, and subsequently less likely to reach your goals.
About 90% of us pursuing goals with “Get Better” mindsets.
Approximately 80% of us are also pursuing goals with “Be Good” mindsets.
http://blogs.hbr.org/cs/2013/03/the_most_effective_strategies.html
Posted by philworldwide | 28/03/2013, 2:45 pm