Strategy Meets Finance (Formerly Boosting Your Financial IQ)

What is Strategy in Business? | Ep 188

13 snips
Sep 22, 2025
Discover the crucial distinction between strategy and planning, highlighting how to elevate your business focus. Explore the importance of defining a single strategic problem and using a scientific approach for effective problem-solving. Learn why customer-centric strategies are essential and the significance of aligning tactics with unique capabilities. Delve into the dynamics of reassessing strategies in the face of market uncertainties, and understand the metrics that determine if your strategy is truly successful.
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INSIGHT

Strategy Is About Focused Choice

  • Strategy is an interrelated set of choices about what to say yes and no to.
  • Its purpose is to focus limited resources so the company can win and increase firm value.
ADVICE

Don't Mistake Planning For Strategy

  • Do not confuse planning with strategy; planning is a to-do list of actions.
  • Instead, decide high-level positioning first before committing to tactical actions.
ADVICE

Start With One Strategic Problem

  • Start strategy by identifying the single strategic problem blocking results.
  • Use root-cause tools like five whys to find the real constraint to solve first.
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