What is strategy? It's a lot simpler than you think

Channel	Publish Date	Thumbnail & View Count	Download Video
	Publish Date not found	0 Views	View on YouTube Download Video

For many people, strategy is a complete mystery. But it's really not complicated, says Felix Oberholzer-Gee of Harvard Business School, author of "Better, Simpler Strategy."

00:00 For many people, strategy is a mystery.
00:25 Strategy doesn't start with focusing on profit.
00:52 It's about creating value.
01:00 There is a simple tool to help you visualize the value you are creating: the value stick.
01:30 What is willingness to pay?
02:30 What is willingness to sell?
03:14 Remind me: where does profit come into play?
03:48 How can I increase willingness to pay?
05:00 And how can I reduce the desire to sell?
06:18 Concrete example: the spectacular turnaround of Best Buy

Companies should simplify and focus on two value drivers, he says: customer satisfaction and employee satisfaction. By aligning strategic initiatives with these elements alone, leaders simplify their employees' jobs and improve the customer experience.

Oberholzer-Gee is the author of the Harvard Business Review article “Eliminate Strategic Overload” (https://hbr.org/2021/05/eliminate-strategic-overload) as well as the book “Better, Simpler Strategy: A Value-Based Guide to Exceptional Performance” (https://www.amazon.com/Better-Simpler-Strategy-Value-Based-Exceptional/dp/1633699692/).

Produced and edited by Scott LaPierre
Video by Dave Di Iulio and Elie Honein
Animation by Alex Belser

Follow the Harvard Business Review:
https://hbr.org/
https://www.linkedin.com/company/harvard-business-review/
https://www.facebook.com/HBR/
https://twitter.com/HarvardBiz
https://www.instagram.com/harvard_business_review

Subscribe to newsletters: https://hbr.org/email-newsletters

#HarvardBusinessReview #Strategy #WhatIsStrategy