The first lesson that was taken away from this video was that the perfect strategy is going to make the company unique and will give it a different position. This unique position includes providing a great value to some variety of clients and by that it can represent the business. The essential truth about strategy is that the organization just can’t be considered as everything to all customers. Nowadays, in powerful markets strategy turns into a guide to be the future development and make a sustainable value. In my opinion, I believe that most administrators have confidence in the steps that is taken by the company in a specific direction and that will represent its strategy, for instance, expanding universally and so on but these goals and targets are not considered as strategy. I see that as in porter’s model that the main role of strategy is alignment which makes employees and individuals to support and encourage each other’s choices and to make the best choice, because everybody is working toward a goal of the competitive advantage. Therefore, strategy requires choices and you must decide what specific value you want to convey. For me, my goal will be on how to differentiate my brand from my competitors and I will give my customers the perfect reason to purchase my products because if my products are not designed with good quality then I will be losing customers.
The second lesson that was taken away from this video was that, customers do matter more than rivals. Focusing on customers becomes an important point for every business, not only about serving them but rather in characterizing them to be their main goal for the company. Porter highly specifies that customers related to competition. I would recommend that it’s important in positioning to be relevant than different and don’t let competition to characterize your outer development strategy. Rather, care about people who matter most to you which are the customers because without these customers the business would fall. Most administrators forget about their customers and only focus on how to compete with their adversaries. From my own perspective, one of the best approaches to understand your customers is to get their feedback about your business and what they think about the service. They are the best source of inspiration and motivation. Thinking firstly about customers enables you to build up a good plan for the strategic growth and by that you can make sustainable achievement for the business, regardless of what rivals do.
The third lesson that was taken away from this video was that, you must be distinctive in ways that include trade-offs with other methods for being different. In another way, if you need to serve a specific target customer with a specific value, this must be conflicting with conveying different values to other customers. So, there should be trade-offs between what your rivals do and what your firm does. On the other hand, if there is no trade-off at that point everything can be inexpensively imitated, which obviously leads to a negative battle. Organizations that wind up competing for the same customers and utilizing similar motivations will be considered as a failure game. Companies don’t like to make choices because making choices always looks risky and they generally want to present the best for the whole universe. But in the same manner, it’s unsafe to limit the range of the product and limit the value that you are conveying. Furthermore, refusal to make choices is an obstruction in making the winning strategy. For instance, think about the strategy of Wal-Mart, their strategy depended on integrated activities, so, for me when comparing K-Mart with Wal-Mart, it need to match what Wal-Mart does because one of the important things for me is that Walmart exceed customer expectations regardless of their low-cost brand image. It’s like a procedure of doing something and if you fail to put all things together then the whole procedure would collapse. So, to have sustainable advantage, the organization must participate in numerous activities to make unique positioning which involves trade-offs with competitors. It should be difficult for competitors to make everything like you otherwise, rivalry will be commonly damaging.