For the last half-century, corporate strategy has been a prescription of a set of universal principles which worked well for a few top companies. Buzzwords have come and gone. But mostly they have created a wedge between those providing the said prescription and the management implementing. The 1960s and 1970s were replete with concepts such as SWOT analysis, experience curve and the growth-share matrix. The 1980s saw the emergence of the value chain strategy, total quality management, five forces model and scenario planning. In the 1990s customer loyalty, core competencies, business process reengineering and growth horizons ruled the roost. Blue ocean and BHAG (big, hairy, audacious goals) were the major developments of the 2000s. Few have lasted long enough. In spite of the lack of sustainability, management consulting firms will continue to churn out new buzzwords. Ultimately, any such strategic discussion must be able to answer five key questions. The first one is which industry must the company be in. The next should be about ways to add value to the business. Heralding the customer base must be the third. The fourth question must answer what value propositions are created for those customers. And finally, there is the matter of uniqueness of offerings.

Source:https://www.strategy-business.com/article/Why-Popular-Strategies-Always-Fade?gko=8e3c9&sf181074949=1

Uploaded Date:13 June 2018