Is a Strategy just a Plan?
In business, the difference between triumph and failure often boils down to one thing: a well-crafted strategy . Through my analysis, I have concluded that strategy is not a single decision but a connected process. It acts as a company's blueprint for achieving and maintaining a competitive advantage —the ability to consistently outperform rivals. This process can be understood through a powerful, three-part framework: Diagnosis: Identifying the core competitive challenge . Guiding Policy: Formulating a central approach to overcome that challenge. Coherent Actions: Implementing a set of consistent activities that bring the policy to life. A Tale of Two Strategies: Tesla and Twitter The contrasting cases of Tesla and Twitter perfectly illustrate this framework in action. Tesla exemplifies a good strategy . Its diagnosis was clear: the world needed sustainable transport, but electric vehicles were plagued by high costs and "range anxiet...