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Hadit
Student (University)
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Difference Between Strategy Approaches and Strategy Concepts
Hi, can someone please explain the difference between a strategy approach and a strategy concept? I'm not sure if I get it right, but to my mind an approach (like Resource-based View) describes a way to interpret the reality.
Whereas a strategy concept (like Core Competences by Prahalad and Hamel) is based on an approach (RBV) and describes actions in terms of strategies.
Please advise me.
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Elena Zhila
Project Manager, Germany
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Strategy Approach versus Strategy Concept
Strategy approach is the way to interpret the problem while a concept is the way to solve the problem.
For example, profits are going down. One approach would be to interpret this as a profit problem and then apply concept revenue-cost, analyze revenue, analyze cost.
Another approach would be to interpret this as organizational problem and use organizational concepts; for example: are people motivated, do the incentive schemes function properly, and so on.
Hope that helps.
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Hakim Moi
Strategy Consultant, United Kingdom
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Strategy Approach versus Strategy Concept
Strategy concept is a vision of the future where y...
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Jaap de Jonge
Editor, Netherlands
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Approach versus Concept
@Hakim Moi: I agree that:
- A concept is more or ...
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bernatdo reyes
Strategy Consultant, Mexico
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Strategic Concept versus Strategic Approach
- A concept, it is a nonnumerical representation o...
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Shobana Sharma (Shobana Maran), United Arab Emirates
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Strategic Approach versus Strategic Concept
In my view, a strategic approach is the way to exp...
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Mehul Doshi
CxO / Board, India
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Strategy Approach Using Resource Based View
It is important that your company's strategy appro...
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John Henry
Project Manager, United States
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Strategy is a Noun
It should not be used to describe other nouns.
Ap...
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Jaap de Jonge
Editor, Netherlands
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The Word Strategy can also Used in a Compound Noun
@John Henry: Your first sentence is IMO not correc...
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Warren Miller, CPA, CFA
Strategy Consultant, United States
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Abuse of the Word 'Strategic'
Jaap, I think your comment about many people using...
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