Difference Between Strategy Approaches and Strategy Concepts

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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. (...) Read more? Sign up for free

		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.

		Hakim Moi Strategy Consultant, United Kingdom
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		Jaap de Jonge Editor, Netherlands
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		bernatdo reyes Strategy Consultant, Mexico
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		Shobana Sharma (Shobana Maran) Student (MBA), United Arab Emirates
	Strategic Approach versus Strategic Concept In my view, a strategic approach is the way to exp (...)

		Mehul Doshi CxO / Board, India
	Strategy Approach Using Resource Based View It is important that your company's strategy appro (...)

		John Henry Project Manager, United States
	Strategy is a Noun It should not be used to describe other nouns. Ap (...)

		Jaap de Jonge Editor, Netherlands
	The Word Strategy can also Used in a Compound Noun @John Henry: Your first sentence is IMO not correc (...)

		Warren Miller, CPA, CFA United States
	Abuse of the Word 'Strategic' Jaap, I think your comment about many people using (...)