The Three Elements of Strategy

This is how you gain clarity about how you will win.

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Objectives

Objectives are the goals that define success. For each objective, the strategy must also establish the metrics that will measure and define meeting the goals. The goals need to be measurable and achievable. Perfection is the ideal but is not a practical goal.

“You can’t ever reach perfection, but you can believe in an asymptote toward which you are ceaselessly striving.”

― Paul Kalanithi

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Scope

Scope defines the boundaries of the organizations potential activities. Scope represents the strategic guardrails or riverbanks. It is the articulation of what the enterprise will and will not do.

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Competitive Advantage

Competitive Advantage details why customers buy your products rather than those of competitors. It is essentially the feature set that is superior in the mind of customers to the features of your competitors.

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Founder of MBA-ASAP.com Author of MBA ASAP and The Way to Wealth; get free stuff http://eepurl.com/b8UzpL

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