First, read Collis and Rukstad, Can You Say What Your Strategy Is? HBR April 2008. This article helps to clearly define a firm’s strategy by creating what they call a Strategy Statement, which aims to describe the firm’s strategy in 35 words or less. This is a tall order. If you would like to get some additional perspective on the strategic activity maps mentioned in the article, please see Michael Porter, What Is Strategy, HBR, November-December 1996. Available from Business Source Premier in the Grand View Library. When you have completed reading the article, or as you are reading it, answer the following questions: According to the authors, why is it worthwhile for a firm to develop the strategy statement? List and define each of the three elements of the strategy statement, and create a comprehensive question that the element should answer completely. Make sure the question covers all facets of the element. Pick a firm, which which you are familiar, or interested in, and create a strategy statement for it.
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