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Word Count: 391
Statement of FactIn the article Can You Say What Your Strategy Is Collins and Rukstadpoints out the significance of creating and conveying a clear andconcise company strategy Indeed the article emphasize that very fewtop executives are able to communicate the companys strategy in 35words or less Consequently organizations that are managed by theseexecutives usually find themselves not being successful as thoseorganizations in which all of its members are able to communicate thecompanys strategy In order to this a well understood strategystatement is based on three key components objective scope andadvantage Issue Statement How can executives create communicate and apply a concise strategystatement that can be internalize and used as a guide by everyone in theorganizationBlack Letter Rule A companys strategy statement addresses the competitive game plan of acompany and it is more concrete and unique than the companys missionvision and values The strategy statement will communicate to allstakeholders initiatives in detail about why customers will choose thiscompany instead of another one Conclusion In order to create an effective strategy statement the statement needsto clearly state three key elements objective scope and advantageThe objective defines what the strategy is trying to accomplish in acertain period of time and is the specific objective that will guidethe company for years to come The scope defines the boundaries orsetting in which the strategy will be applied and should not go furtherthan that It is composed of three elements - the target customergeographic location and vertical integration Finally the advantage ofthe strategy statement will help communicate what the company is goingto do that will set it apart from its competitors to achieve theobjective In order words it expresses why the company will succeed Inorder to this the strategy needs to describe the value propositionunique activities and how both are connected After creating thestrategy it needs to be spread throughout the whole company andincorporated into peoples behavior Conclusion A well-written strategy statement will be a key element in making acompany successful
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