Author: A.G. Lafley, Roger L. Martin

Notes:

Strategy is the answer to 5 interrelated questions

1. What is your winning aspiration?
   • Purpose of enterprise
   • Guiding Aspiration
   • Need to be defined and tied to specific benchmarks to measure progress
2. Where will you play?
   • Competing area - geography, product category, consumer segment, channel, stages of production
   • Define scope of activities
   • Choosing where to play and where not to play
   • Temptations
     1. Failing to choose
     2. Trying to buy your way out of an unattractive game
     3. Accepting status quo or existing choices
3. How will you win?
   • Value proposition
   • Competitive Advantage
   • Should be considered along with where will you play
4. What capabilities must be in place?
   • Reinforcing activities
   • Specific configuration
5. What management systems are required?
   • Systems, structures and measure to support

Strategies in large companies can be cascading