Below is a summary of the key points from the article.
As usual, Greg Satell is spot on the issue of strategy
A good strategy is specific and focused, not something that applies to everyone broadly. It identifies the particular context where relative strength can be brought against relative weakness.
- There is not such thing as good strategy and poor execution. Strategy must be designed to be compatible with the execution mean available.
- Choosing the right battles and using the right “weapons” is important. Revolutions often fail when they try to use violence against authoritarian regimes, who have advantages in force. Non-violent tactics targeting things like psychology, sociology and economics can be more effective.
- Identifying niche markets that incumbents have not served, like Tesla initially targeting high-end car buyers, can allow an innovative company to avoid head-on competition.
- During the civil rights movement, putting pressure on Mississippi through recruiting elite northern college students helped national media attention and federal government action be leveraged against the local power structure.
- Creating dilemmas for opponents to navigate is better than direct confrontation. Forcing a choice between upholding shared values or resisting change undermines resistance.
- Strategy needs to account for the existing status quo, which defends its power. The focal point of efforts needs to exploit relative weaknesses changing as the context changes.
- Good strategy involves experimentation and discovery through virtual planning experiments to minimize real-world failures. It is an iterative process of making choices to address challenges rather than a preset master plan.
We always recommend to read and listen to Greg Satell.
More reading on strategy
- What is the Role of Innovation Strategy in Organizational Success?
- Communication Strategies for Innovation: A Guide to Getting Your Ideas Heard
- A New Approach to Strategic Innovation: A Quick Summary