The Strategy Mindset 2.0
From the author of the leading textbooks in the fields of Strategy & Entrepreneurship
Practical Strategy makes a Significant Difference
Organizations survive (and hopefully thrive) because they are able to change. No matter how successful the business has been, its future lies in the ability to attain real returns from its competitive advantages. This can only be accomplished by staying well ahead of competitor moves intended to encroach on those advantages as well as continually designing and implementing new competitive advantages.
Strategy is the process of developing and implementing real competitive advantages such that customers will go past your competitors and buy from you at a price that allows for substantial economic (or social, in some cases) returns.
Practical Strategy has Developed
In February 2015 The Strategy Mindset was published as a simple yet practical guide to creating business strategy using well-researched, practical, and battle-tested processes. The goal was to establish the fundamentals of the design and implementation processes of strategy in a readable and easily accessible format. The approaches used in that book and in this second edition are the gold standard for developing and executing real competitive advantages such that customers will go past your competitors and come to you because you have those advantages.
The big changes (and the reason for the 2.0 edition) include the following:
- The addition of several elements of strategy design and implementation that were not included in the first edition for brevity. It has become clear in my work over the past four years that these topics need to be addressed. These include discussions of industry types as well as methods for classifying and analyzing competitors.
- Updating and adding new examples used in the book.
- Adding a section on vision statements, establishing values and principles, including their design and use.
- Adding in new examples (along with some analysis) of great and awful mission/vision statements.
- Updating the design and use of the one-page strategy map. Research into its practical application has substantially changed the elements in a good strategy map. I have updated and included a number of new example maps.
- The whole approach to determining the perfect customer for an organization has been significantly refined. This includes approaches for locating these “perfect customers” and increasing your sales success rate.
- Significantly more information about the design and practical use of project plans to implement strategy.
- A section specifically focused on the unique issues related to nonprofits.
Strategy is a process that, at its core, consists of designing and implementing elements of the organization that will draw customers past your competitors, allow you to charge more than your competitors, and/or provide you with a cost advantage.
Explodes the Myths of Strategy
- People are NOT your Competitive Advantage
- SWOT is NOT an analysis tool
- Product Life Cycle exists only in hindsight
- Competitors DO Matter
- In most cases Quality is Just Table Stakes
- Customer Service is a concept that every competitor claims
- Low Cost works for only ONE Company
- BRAND is NOT a Strategy
- Strategy should NOT be re-done annually
From the Back Cover:
Bamford has spent decades studying, applying and teaching strategic planning. This book will help you:
- Create a strategy plan that works
- Determine your perfect customers
- Gain a TRUE competitive advantage
- Conduct a resource-based analysis
- Structure your organization to align with your strategy
- Craft activity metrics that ensure the strategy is being implemented
With his help, you will be prepared to dramatically increase sales and save money by investing in only what separates the organization
