This is a discussion posting reply task.
The discussion topic is
What is Strategy?
Sharing your replies on these 2 posts. A minimum of 200 words per post is required. please write it one by one!
First discussion post from peers：
Hi class,
Strategy is the way in which you make your firm stand out from otherwise similar competitors in the marketplace. According to the article:
Strategy is the creation of a unique and valuable position, involving a different set of activities. There are three typical strategic positions: variety-based, need-based, and access-based position. Companies should choose each of them and expand their business.
Strategy requires you to make trade-offs in competing—to choose what not to do. A trade-off exists when an organization cannot perform simultaneously on two performance dimensions: in order to increase performance on one performance dimension it has to decrease performance on the other dimension.
Strategy involves creating “fit” among a company’s activities. Strategy and leadership are inextricably linked together. The company should build its own differentiated activities and link them together to avoid other competitors copy their strategies.
2nd discussion post from peers：
Hi Class,
Strategy is very difficult to come up with!! Companies that are successful and still relevant in the market have their own set of strategic actions that are different from competitors. A sustainable strategy is composed of 3 points;
Unique position: Strategy is usually derived from one of the three strategic positions which are variety-based, need-based, and access-based position. These positions are the objective and main goal that the company wishes to pursue.
Clear trade-off: To sustain strategy in the long-term, the company also needs to have a trade-off which is a thick concrete wall to prevent rivals to imitate the company’s strategic positions.
Tightening fit: Lastly, the company must create links between its activities to lock out imitators. This set of differentiated activities will provide strong linkage within the company. It is harder for competitors to copy the whole set of activities.
