4.0 The company’s Strategy delivers a unique & valuable position in the marketplace | Made to Thrive 22/34
Welcome to video 22 in this series of 34 two-minute videos detailing the key concepts in my new book “Made To Thrive.” “Made To Thrive” outlines the five key roles that a leader must undertake to transition from being a good leader to being a great leader.
Those five roles are accountability, ambassador, coacher, strategy and succession planning.
Today we’re talking about strategy. And in particular 4.0. The company’s strategy delivers a unique and valuable position in the marketplace which is different to competitors.
Most companies don’t really have a strategy.
That is, when strategy is defined as having a unique and valuable position in the marketplace that is different from competitors.
The inconvenient reality is that most leadership teams are consumed with operations.
They just don’t have the time to step out of the business and to work on the business.
And because they’re consumed by operations, they’re never able to really develop that unique and valuable position that’s different from their competition.
Instead, leadership teams should take the time, step out of the business to work on the things that are most important.
The things that are important, but not urgent. Because that constant distraction from operation prevents them doing that.
The word strategy originally started appearing in management literature in the 1960s.
If we look at the S&P 500, in 1975 83% of the components that made up the market value of the S&P 500 were tangible assets.
So, that’s things like vehicles and machinery and buildings. 87% in 2015 were intangible assets.
So, that is trademarks, patents, copyright, things like that. Making up by far and away the bulk of the components value within the S&P 500.
And that’s because strategy became more well-known and more companies recognized that building a strategy is the most important thing to deliver shareholder value.
As a CEO, your job is to own a process which discovers and executes on the key activities to ensure your firm becomes unique and valuable in the marketplace.
If you’d like to learn more about “Made To Thrive”, you can watch all of these videos on YouTube, or you can buy the book now on Amazon. And I’ll put the links below for both of those.
Learn where to order Made to Thrive below