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Refocus Your Strategy for Success
HBR On Strategy
Eke Out Advantages Relative to the Competition
Changing value drivers involves financial calculations to assess cost and return. Strategic changes should focus on critical value drivers to differentiate from the competition rather than catching up. Similarity in value proposition leads to price-based competition. Unique value drivers help differentiate and reduce price sensitivity, driving customer choice based on value instead of price. Focusing on specific value drivers revives the notion of making trade-offs, a fundamental concept in classic strategy theory.
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