According to Hambrick and Frederickson
There are 5 key areas to strategy:
- Arenas: Where will we do it?
- Vehicles: How to do it?
- Differentiators: How will we win?
- Staging: Which moves will we make first? and
- Economic Logic: How will we profit?
Most strategic plans only address 1 or 2 and ignore the rest.
Which one is missing from YOUR strategic plan for 2013?
Turn your strategy into action and action into PROFITS!