Whether a company pursues a low-cost strategy, a differentiation strategy, or a niche strategy, implementing the strategy may be the biggest hurdle. The business plan, whic

Strategy Chart

ch is the implementation document for the strategy, must encompass various elements. A strategy is likely to succeed if the following elements support one another and work in sync with the overall strategy:


Is the market served an attractive one in which the company can compete?

Do the core competencies, or the company’s capabilities, support the market served?

Can the differentiation the company wishes to pursue, such as product performance, reliability, conformance, durability, serviceability, aesthetics, perceived quality, and cost, be supported by its core competencies?

Are measurements in place to track what is differentiable and other salient factors? What data do you examine to make certain you’re meeting your goal? If you’re a low-price retailer, for example, how does your cost per item compare to that of your competition?

Is compensation tied in some way to performance as indicated by the measurements?