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.

  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
 

Strategy Approach versus Strategy Concept

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  Jaap de Jonge
Editor, Netherlands
 

Approach versus Concept

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

  bernatdo reyes
Strategy Consultant, Mexico
 

Strategic Concept versus Strategic Approach

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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
Strategy Consultant, United States
 

Abuse of the Word 'Strategic'

Jaap, I think your comment about many people using (...)

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