Episode 7: Beyond Buzzwords: The True Definition Of Strategy

Beyond Buzzwords: The True Definition Of Strategy

Host: Werner Mouton, CGMA

5 Key Takeaways:

 1. Clear Definition of Strategy:

 • "A strategy is a clever plan to get you from where you are currently to where you want to be when competition is present" - Werner Mouton, CGMA. This definition emphasizes the importance of having a strategic approach when there is competition.

 2. Common Misconceptions:

 • Many book and strategy resources tend to confuse readers by listing characteristics rather than providing a clear definition. This leads to confusion and disillusionment among business owners.

 3. Importance of Competition:

 • Strategy becomes crucial when there is competition. For instance, if you need to get bread and there is a shortage, you will need a strategic plan to ensure you get it. The presence of competition transforms a simple plan into a strategic one.

 4. Dynamic Nature of Strategy:

 • Strategy is not fixed; it evolves based on new information and changing circumstances. Business owners should be flexible and willing to adjust their strategies as needed.

 5. Start with a Definition:

 • To effectively develop a strategy, begin with a clear understanding of what strategy is. Once you have this foundation, you can delve into characteristics, frameworks, and tactics to build a robust strategy.

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