Many companies are getting ready for their annual planning retreats and wondering how to create a winning strategy. If one person can be associated with the development of strategy as a discipline in the past thirty years it’s Michael Porter whose book “Competitive Strategy” is the final word on understanding and creating strategy. Porter held that there are five forces of competition that must be understood to develop an effective strategy. Here’s a two minute video from the Harvard Business Review that summarizes the five forces that might be a good kickoff to your planning process.
Happy PlanningCATEGORIES: Goal Setting, Leadership, Strategic Planning