{"id":5325,"date":"2022-01-24T00:50:15","date_gmt":"2022-01-24T05:50:15","guid":{"rendered":"http:\/\/mariusbill.com\/?p=5325"},"modified":"2022-01-24T00:50:15","modified_gmt":"2022-01-24T05:50:15","slug":"business-mastery-for-entrepreneurs-part-23-what-is-the-best-strategy-for-your-business-tool-xvi-classical-business-strategy","status":"publish","type":"post","link":"https:\/\/mariusbill.com\/de\/business-mastery-for-entrepreneurs-part-23-what-is-the-best-strategy-for-your-business-tool-xvi-classical-business-strategy\/","title":{"rendered":"Business Mastery for Entrepreneurs \u2013 Part 23: What is the Best Strategy for Your Business? \u2013 Tool XVI \u2013 Classical Business Strategy"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-5326 alignleft\" src=\"http:\/\/mariusbill.com\/wp-content\/uploads\/2022\/01\/Blog-Post-30-Tool-XVI-final-300x168.jpeg\" alt=\"\" width=\"502\" height=\"281\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>When<\/b><\/strong><strong><b>\u00a0is the<\/b><\/strong><strong><b>\u00a0classical approach to strategy<\/b><\/strong><strong><b>\u00a0the right choice for your company<\/b><\/strong><strong><b>? <\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In their book, Your Strategy Needs a S<\/span><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">trategy, Martin Reeves and his co-authors,<sup>1<\/sup> emphasized the importance of the classical approach to strategy for established and larger companies. A<\/span><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"> great summary of their work can be found in the Harvard Business Review<sup>2<\/sup> or in the Boston Consulting Group publications.<sup>3<\/sup><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"> In today\u2019s article I will share a brief introduction to the <strong><b>classical approach to<\/b><\/strong>\u00a0<strong><b>strategy <\/b><\/strong>and show<\/span><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">\u00a0when you should deploy this strategy.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Overview<\/b><\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>\u21d2 <\/b><\/strong><strong><b>What is a classical approach to strategy?<\/b><\/strong><\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>\u21d2 <\/b><\/strong><strong><b>When should you use the classical approach to strategy?<\/b><\/strong><\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><b>\u21d2<\/b><\/strong><\/span><span style=\"color: #000000;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\"> <span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\">How can you use this strategy successfully?<\/span><\/span><\/strong><\/span><\/li>\n<li><b><\/b><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt; color: #000000;\"><strong><b>\u21d2 Summary<\/b><\/strong><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>What is the classical approach to strategy?<\/b><\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">The classical approach to strategy focuses on the company\u00b4s sustainable competitive advantage.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Because the company cannot change their environment, they seek to position themselves optimally within this environment.<\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Such positioning can be based on superior size, differentiation, or capabilities.<\/span><\/li>\n<\/ul>\n<p><strong style=\"color: #00ccff; font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif;\">When should you use the classical approach?<\/span><\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">You should use this strategy when your company has an advantaged in attractive markets and wants to win by striving to position your company optimally.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Ask yourself: <\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Does your company has a sustainable competitive advantage?\u00a0<\/span><\/strong><\/li>\n<li style=\"text-align: justify;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Is the environment stable and sustainable?\u00a0<\/span><\/strong><\/li>\n<\/ul>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">If so, you should consider to use the classical approach to strategy.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong>How can you use the strategy successfully?<\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">You start to analyze the attractiveness of the market and your company\u00b4s competitiveness in this market.<\/span><\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Then you construct a plan and you execute the plan rigorously until you win.<\/span><\/li>\n<li><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In short: Analyze &#8211; Plan &#8211; Execute<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Summary<\/b><\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><b><\/b><strong><b>Key Point #1:<\/b><\/strong> Your company can win with a classical approach by striving to position themselves optimally in attractive markets.<\/span><\/li>\n<li style=\"text-align: justify;\"><strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Key Point #2:\u00a0<\/span><\/strong><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Advantage is based on superior scale, differentiation or superior capabilities.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Supporting you<\/b><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">I\u00b4m available to support you through this difficult time by re-imagine your business. We will determine if the the <strong>classical approach to strategy<\/strong> is the right strategy for your company. If not, we will explore what strategy from the strategy palette will help you to become more successful in your chosen market segment.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><strong><b>Contact me for a complimentary 30-minute strategy session:<\/b><\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/nextlevelcoach.as.me\/schedule.php\"><u>https:\/\/nextlevelcoach.as.me\/schedule.php<\/u><\/a><\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #00ccff;\"><strong><b>Coming up next month<\/b><\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">In my next blog post, I\u00b4ll share how to use the adaptive strategy approach<strong><b>.<\/b><\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: arial, helvetica, sans-serif; color: #000000;\">Stay tuned!<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">#advantages #analysis #approach #blog #blogpost #business #businesscoach #businesscoaching #businessowner #businesses #businessmastery #businessmodel #businessmodelcanvas #canvas #change #challenge #company #companies #coaching #coach #entrepreneur #entrepreneurship #empower #empowering #leadership #leadershipcoaching #leader #leading #marketing #mindset #mindsetcoach #mindsetcoaching #opportunity #potential #solution #strengths #strategy #strategies #strategyforsuccess #system #success #successful #threat #weakness #nextlevel #nextlevel-coach #nextlevelscoach #nextlevelcoaching #nextlevelcoach #marius #mariusbill<\/span><\/p>\n<ol>\n<li><span style=\"color: #000000;\">Martin Reeves, Knut Haanes, Janme Jaya Sinha, \u201cYour strategy needs a strategy, how to choose and execute \u00a0the right approach\u201d, Harvard Business Review, 2015.<\/span><\/li>\n<li><span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen-Sans, Ubuntu, Cantarell, 'Helvetica Neue', sans-serif; color: #000000;\">https:\/\/hbr.org\/2015\/06\/navigating-the-dozens-of-different-strategy-options<\/span><\/li>\n<li>https:\/\/www.bcg.com\/publications\/collections\/your-strategy-needs-strategy\/classical<\/li>\n<\/ol>\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt; color: #00ccff;\"><strong><b>Copyright 2019-2022, Next Level Coach. All rights reserved!<\/b><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When\u00a0is the\u00a0classical approach to strategy\u00a0the right choice for your company? In their book, Your Strategy Needs a Strategy, Martin Reeves and his co-authors,1 emphasized the importance of the classical approach to strategy for established and larger companies. A great summary of their work can be found in the Harvard Business Review2 or in the Boston [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-5325","post","type-post","status-publish","format-standard","hentry","category-business"],"translation":{"provider":"WPGlobus","version":"3.0.2","language":"de","enabled_languages":["en","de"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false}}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts\/5325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/comments?post=5325"}],"version-history":[{"count":0,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/posts\/5325\/revisions"}],"wp:attachment":[{"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/media?parent=5325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/categories?post=5325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mariusbill.com\/de\/wp-json\/wp\/v2\/tags?post=5325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}