The 7 facets of good strategy

Strategy is the formulation, refinement and communication of a vision. It is the determination of what would be the optimal focus and source of leverage that will lead to defensible points of advantage. In other words, strategy is leveraging strengths and making weaknesses irrelevant in the pursuit of a vision.

A team can use this definition of strategy as well as the 7 Aspects of Strategy to give your firm competitive advantage, marketing and selling effectiveness and a clearer direction toward reaching your vision of growth and improved profitability.

Companies can see positive growth with the application of action plans like assessing pressures and trends and defining the culture of your company. Whether you are a millennial manager, seasoned business owner, or fledgling entrepreneur, taking these deliberate steps can define goals, refine vision and produce results..

Take a fresh look at the way you approach your business strategy. Define your focus, direction, vision and execution using this diagram: The 7 Aspects of Good Strategy, from Vistage speaker Mark Faust’s new book, (September, 2016 Pelican Press), “High Growth Levers: How the Turnaround Mindset Will Propel Your Business.”

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