Page 13 - Introduction to strategic management

2- What is a strategy?

TIP:

While creating strategies that work for your organization, you
should keep in mind that ‘best practice doesn’t equal best

strategy’. This is because although blindly copying someone else’s
best practices may initially improve your company’s operational
efficiencies, it will eventually have harmful and detrimental

financial and behavioural effects.

This happens because once you start following a leader, your

products and services will become more homogenized with the
leader’s products and services. Moreover, on the behavioural front,

asking your employees to copy what another organization has
already done can be demoralizing and lead to a suffocating the

intelligence and talent of your most strategic resource: your people.

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