Experimentation
Trying things at a small scale to see what works without a major investment or risk.Scaling
When you find something that works, scale it out.Minimum Viable Product
Shipping product early and often.Competitive Advantage
Developing capabilities that are superior to all competition in some way.Information Advantage
Developing information that is superior to all competition. For example, a product development team that identifies an extremely valuable latent need.Investment
Putting capital and labor to work to produce value.Speculation
Predicting prices or outcomes to try to profit.Social Capital
Building relationships with people. For example, a startup that finds financing, partners and customers through employees who know many influencers in an industry.Camping Strategy
Getting physically close to the action. For example, starting a satellite office that is close to many of your customers.Rent Seeking
Any strategy that seeks profit without producing value. For example, asking a government to subsidize your business.Diversification
Entering new markets. For example, a supermarket that opens a chain of convenience stores.Cut and Run
Recognizing that a strategy isn't working and exiting it as quickly and cheaply as possible.Scenario Planning
Planning tactics for scenarios that may or may not actually happen.Last Responsible Moment
Always working on the highest priority thing and leaving decisions until they have to be made. Typically adopted in a fast changing situation where making decisions too soon can be a waste of time and resources.Win-Win
Finding ways to help partners and customers that also serve your needs.Integration
Building upon the success of others with offerings that complement, integrate or are compatible.Win-Lose
Any strategy that seeks to defeat the competition as opposed to working with them.Flanking
Attacking the competition from an odd angle they aren't defending. For example, a niche product that serves customer needs that aren't covered by major competitors in a market.| Overview: Types Of Strategy | ||
Type | ||
Definition | A plan to achieve a goal. | |
Related Concepts | ||
