Principle Components of Strategy
Executing Business strategy
Do some research and find some strategy executions. Describe two of the strategies. What do your findings reveal about the importance of the strategy executions you selected? Why are they important to strategic success?
Examples of strategy executions:
- Netflix's content-first strategy. Netflix is a streaming service that has disrupted the entertainment industry. The company's content-first strategy is one of the key reasons for its success. Netflix invests heavily in original content, which gives it a competitive advantage over other streaming services. The company's content is also highly appealing to its target audience, which helps to drive subscriptions.
- Amazon's customer-centric strategy. Amazon is an e-commerce company that has become one of the most successful businesses in the world. The company's customer-centric strategy is one of the key reasons for its success. Amazon puts the customer first in everything it does, from product selection to customer service. This focus on the customer has helped Amazon to build a loyal customer base that is willing to spend money on the company's products and services.
- They help to ensure that the company's strategy is aligned with its goals and objectives.
- They help to translate the company's strategy into specific actions that can be taken.
- They help to ensure that the company's resources are allocated in a way that supports the strategy.
- They help to track and measure the company's progress towards its strategic goals.
- They help to identify and address any challenges or roadblocks that may arise.