One of the articles that stuck out to me this week in our readings was "Can You Say What Your Strategy Is?" from April 2008's Harvard Business Review. Essentially, I think few companies can clearly and concisely state their strategy. Many companies have a vision statement, and many make strategic plans, but few have strategy statements. In the article, Edward Jones was used as an example, and the company has a clear strategy statement that I thought was most interesting. That type of statement really does leave no room for misinterpretation, as the article indicates.
EA, Electronic Arts, has recently outlined a strategic vision that is their strategic vision: "fewer and bigger brands, more digital content and consumer outreach, a larger free-to-play business, and more new IPs." (See linked article below.) I was searching for companies' strategic statements, and this was one of a select few that were clear and to the point.
Do you think companies should make sure to have strategic statements, like mission statements, rather than just a lengthy strategic plan? How do you think strategic statements influence consumers? How do they influence competitors? Do you think these statements indicate a greater understanding of one's own strategic vision?
Read more: http://www.businessinsider.com/eas-fewer-and-bigger-brands-strategy-doubles-fps-marketshare-for-company-2011-4#ixzz1K22Nf8Pp