Difference Between Strategy Approaches and Strategy Concepts

      
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		            		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.
				      
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						            	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 you or a firm wants to be and therefore needs to do... Sign up
				              
										              9

						            	Jaap de Jonge
Editor, Netherlands
												
				                Approach versus Concept

													@Hakim Moi: I agree that:
- A concept is more or less the same as a model. It is a theoretical cons... Sign up
				              
										              2

						            	bernatdo reyes
Strategy Consultant, Mexico
												
				                Strategic Concept versus Strategic Approach

													- A concept, it is a nonnumerical representation of reality, with the traditional isolated variables... Sign up
				              
										              3

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

													In my view, a strategic approach is the way to explain the problem whereas a strategic concept is th... Sign up
				              
										              2

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

													It is important that your company's strategy approach is based on your company's SWOT and Resource-b... Sign up
				              
										              0

						            	John Henry
Project Manager, United States
												
				                Strategy is a Noun

													It should not be used to describe other nouns.
Approach, is a group of actions, or processes that s... Sign up
				              
										              2

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

													@John Henry: Your first sentence is IMO not correct ("It should not be used to describe other nouns.... Sign up
				              
										              1

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

													Jaap, I think your comment about many people using 'strategic' as a synoym for 'important' was spot-... Sign up
				              
										              2

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

													@John Henry: I respectfully disagree, John. In no way is strategy 'a desired outcome.' Instead, 'Str... Sign up
				              
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