A Good Business Strategy
The business strategy provides the basis and framework for the marketing strategy. Before you do a deep dive into marketing strategy, your business strategy has to be well-defined and understood throughout your organization.
Having clear objectives is critical for business strategy. The Collis Model1 clarifies and focuses the work that you need to do in developing a business strategy. When you think about it, it’s fairly definitive. This model allows an organization, or even an individual, to only spend their time and effort on what’s important—objective, scope, and advantage. It gets rid of the peripheral “nonsense” in which businesses get caught up and which causes them to lose both effectiveness and efficiency.
The objective should specific, measurable, and time-bound. The scope defines the boundaries of where you will focus your resources. The advantage is the power of an effective value proposition that has advantages over your competition. Mapping out the elements of your strategy and the framework for its execution is the foundation of a strategy-focused organization, where there are only a few vital performance drivers.
Learn more about the elements of business strategy and how to connect your strategy to the work of your organization in our white paper, “Develop Your Go-to-Market Business Strategy.” Click the button below to download your copy.
About the Author
Ron Sullivan is a Senior Partner at Breakthrough Marketing Technology. He has worked with many businesses on innovation, new product development processes, strategy, building new business models, channels and distribution, and pricing optimization. He has significant expertise in study design, data analysis, and market intelligence.