Strategy: Choosing What Not to Do

A, mission, explains, why, the, organization, exists, and, who, it, serves., A, vision, describes, what, it, aims, to, become., Both, are, pointless, if, they, could, be, swapped, with, a, competitor’s, without, anyone, noticing., Unfortunately,, that’s, the, case, for, most.

Objectives, turn, that, into, something, you, can, check., They, should, be, specific,, measurable,, achievable,, relevant,, and, time-bound., The, key, parts, are, measurable, and, time-bound:, without, both,, no, one, can, tell, if, the, objective, was, met., An, objective, that, can’t, fail, can’t, guide, a, decision, either.

Strategy, is, about, how, to, compete., Remember, this, definition:, strategy, is, as, much, about, what, you, won’t, do, as, what, you, will., A, plan, to, serve, every, customer,, in, every, region,, on, both, price, and, premium, isn’t, ambitious., It’s, a, lack, of, strategy., It, excludes, nothing, and, guides, no, decisions., Real, strategy, means, making, trade-offs, that, might, upset, someone.

SWOT, organizes, analysis, into, strengths,, weaknesses,, opportunities,, and, threats., Strengths, and, weaknesses, are, internal., They’re, things, the, firm, controls., Opportunities, and, threats, are, external., They’re, things, it, doesn’t, control., Students, often, mix, these, up,, and, it, matters:, you, can, act, on, internal, factors, directly,, but, external, factors, require, a, response.

SWOT's, main, limitation, is, that, it’s, just, a, list., A, list, alone, isn’t, an, analysis., Four, boxes, of, bullet, points, don’t, recommend, anything, by, themselves., Real, value, comes, from, crossing, them—like, using, a, strength, to, seize, a, specific, opportunity, or, fixing, a, weakness, that, a, threat, would, exploit., Examiners, reward, those, connections, and, give, little, credit, for, the, boxes, alone.