Strategy & Strategies

The term “strategy” is commonly used in companies, but its meaning can sometimes be ambiguous:

• The same word can designate different concepts at different levels. To have a strategy yes, but at what level? Do we mean a strategy for a specific project, a product, a customer, a market, an activity, or the entire company?
• It is important to define what we mean by “having a strategy”. Every strategy is based on strategic reasoning, analyzing one’s situation and resources, identifying opportunities, comparing with competitors and anticipating their moves. The meaning of having a strategy varies based on how these principles are applied.

At both the company and business levels, there is a single strategy, even if the terminology varies.

• In a single-activity compaby, it is called a company strategy
• In a multi-activity (or multi-business) company, it is referred to as a corporate (or group) strategy for all activities and a business strategy (or activity strategy) for each activity.

The term “strategy” represents a unified approach, but it coordinates several sub-strategies such as the R&D strategy, IT strategy, marketing strategy, sales strategy a,d HR strategy.

Among these “strategies”, two are particularly relevant to markets and competition, although the others also contribute to them: market strategy and product strategy.

This theme explores and illustrates the notions of “strategy” and “strategies”, in their market, product and competitive aspects.