Difference Between Strategy Approaches and Strategy Concepts

      
			              Forum
			            
							              11

		            		Hadit
Student (University)
			            
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.
				      
X

							  			Welcome to the Strategy and Innovation forum. The topic being discussed here is: "Difference Between Strategy Approaches and Strategy Concepts". 
										
Will you join us? It's free. 

										Log in

Comments

																	  	Sort by date
																	  	Sort by rating
																		
Rating

										              13

						            	Elena Zhila
Project Manager, Germany
												
				                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.
				                
										              4

						            	Hakim Moi
Strategy Consultant, United Kingdom
												
				                Strategy Approach versus Strategy Concept

													Strategy concept is a vision of the future where y...
				              
										              9

						            	Jaap de Jonge
Editor, Netherlands
												
				                Approach versus Concept

													@Hakim Moi: I agree that:
- A concept is more or ...
				              
										              2

						            	bernatdo reyes
Strategy Consultant, Mexico
												
				                Strategic Concept versus Strategic Approach

													- A concept, it is a nonnumerical representation o...
				              
										              3

						            	Shobana Sharma (Shobana Maran), United Arab Emirates
												
				                Strategic Approach versus Strategic Concept

													In my view, a strategic approach is the way to exp...
				              
										              2

						            	Mehul Doshi
CxO / Board, India
												
				                Strategy Approach Using Resource Based View

													It is important that your company's strategy appro...
				              
										              0

						            	John Henry
Project Manager, United States
												
				                Strategy is a Noun

													It should not be used to describe other nouns.
Ap...
				              
										              2

						            	Jaap de Jonge
Editor, Netherlands
												
				                The Word Strategy can also Used in a Compound Noun

													@John Henry: Your first sentence is IMO not correc...
				              
										              1

						            	Warren D. Miller, CPA, CFA
Strategy Consultant, United States
												
				                Abuse of the Word 'Strategic'

													Jaap, I think your comment about many people using...
				              
										              2

						            	Warren D. Miller, CPA, CFA
Strategy Consultant, United States
												
				                Strategy is not the Desired Outcome

													@John Henry: I respectfully disagree, John. In no ...
				              
Leave a comment

												              Discuss
												            
		                          	Should Executives Become More Strategic? Some Tips...
Operations Strategy versus Business Strategy
Mission: To achieve the Vision
Implementation/Formulation Strategy Matrix
Strategic Marketing Decision
What Makes a Person Into a Strategist?
🔥Definition of Business Strategy (aka Competitive Strategy)
What is Strategic Quality Planning?
Main Factors of Strategy Formulation
Is Strategy Development a Chaotic Process?
What is Strategy? (process)
Standardization: Tactic or Strategy?
👀Difference Between Strategy Approaches and Strategy Concepts
The Role of the Board of Directors in the Strategy Process
What is a Strategy? (noun)
Organisational Development Strategy versus Business Strategy