18 Types Of Strategy

John Spacey, April 19, 2018

A strategy is a plan to achieve a goal. This typically considers uncertainty, competition and constraints such as time, capabilities and budget. The following are basic types of strategy.

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.

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	Strategy
Definition	A plan to achieve a goal.
Related Concepts	Strategy » Uncertainty » Competition » Constraints » Minimum Viable Product » Competitive Advantage »