In today's increasingly turbulent markets, devising and executing a winning strategy takes a thoughtful approach that looks both outward and inward.
The outward perspective identifies the best opportunities as well as potential sources of disruption for the business unit. It defines future scenarios and profit pools, assesses competitor strategies and strengths, reveals the priorities of leading-edge customers, discerns potent new business models and possible lateral entrants, and determines the style of strategy needed to win.
The inward view assesses the business unit's real sources of competitive advantage, explores ways to augment its advantage through the acquisition of new assets or capabilities, and analyzes its approach to value creation relative to rivals.
The ultimate strategy brings these two perspectives together to uncover which combination of choices—of customers, markets, and investments—has the greatest potential to create value.
Business Unit Strategy for a Changing World