Last week, I discussed with my students at HEC Montréal the key elements of strategy and the importance of making coherent choices.

We reviewed strategy frameworks and tools for identifying sources of competitive advantage.

I challenged my students to think about the pharmacies they frequently visit and identify the How to Win (this idea is equally applicable to telecom operators, car manufacturers, etc.).

We saw two weeks ago that to create a competitive advantage, it's vital to identify the key elements of Where to Play:

• The customer segment
• The needs to be met
• The distribution channels
• The geography
• The relative prices

All elements that help contextualize the value proposition and competitive advantage (How to Win).

Remember, competitive strategy is about:

• Making choices to be unique in creating value for our customers.
• Developing a unique value proposition and specific activities to “deliver” it.
• Making choices that are different from the competition.

It’s your turn. 

I challenge you to take 15 minutes this week to test what differentiates the competitors of a particular sector.

Document the Where to Play and identify the How to Win.

• Identify how each creates superior value.
• Identify the competitive advantage.

Go through the exercise. 

It's 15 minutes and well worth the time. I promise you’ll never look at organizations the same way again.

I'm curious about your findings. Drop me a line!

Have a good week

Eric L’Heureux