Strategy, as defined in “Can You Say What Your Strategy Is?” encompasses three specific areas objective, scope and advantage. These areas need to be considered when establishing the strategy that will lead a company or organization to the ultimate goal of achieving their mission and vision of company going forward in to the future.
Every company or organization needs to have an achievable strategic plan. The strategy that they identify needs to be measurable and have a positive impact. Once the objective of their strategy is identified, they then need to define a scope of where they need to focus their efforts, whether it is focused on the customer or process to get to their identified goal.
The article talked about Walmart, mom and pop stores and how they revisited their strategy positions to move forward and find the road to success. You can also identify when a company has found the road to success when they change their initial direction and move to success that wasn’t a part of their original strategic vision like McDonald's. McDonald's seems to have redefined their objective, scope and advantage to keep their lead as a fast food retailer by redesigning their stores, what they offer and how they market their products. Their strategy appears to have enabled them to maintain the lead and success as a leader in fast food retailers.
Coming up with a firm strategy that a company can identify will enable that company to move onward and upward and become the success that they envision. Communicating a company’s strategic plan to their staff will give the staff the most important tool to success which is an understanding of the specifics to a pathway to success. By developing or crafting a short statement that captures what the company envisions for their future success will enable the staff to move forward and achieve the defined strategic goals and point them in the direction of success.