The never-ending ‘competition’ is eating every business alive: if you do not have the right strategy, you will soon find your business eaten and left with nothing. Unlike before, companies spend more on Research and Development nowadays in order to make them ahead of the others: they try to study market and know what more could they offer to satisfy the latter. Strategy has always been a key-point in determining whether a company is ahead of its competitors. That is why strategy has always been used as a symbol for survival: not only does it reflect a company’s ability to withstand the corporate jungle but also its capability to stand out from the rest.
According to Porter, Strategy is choosing to perform activities differently than rivals do. He said that benchmarking is not enough. Because the more you try to benchmark with others, the more you are alike. He also stated that competitors can quickly imitate what it wants to from your management styles, to your products and services, but what makes strategy so special is something that would go beyond what imitation could make. “A company can outperform rivals only if it can establish a difference that it can preserve.” Therefore, he defined strategy as not only in being different but also having the ability to make that difference constant.
Drucker, on the other hand, introduced the Theory of the Business where he emphasized on the importance on how companies look at themselves and visualizes its goal as an organization. He said that every organization has a theory of the business but often, companies find themselves out of the line not because of wrong doings but most on doing things fruitlessly. He said that how an organization does its magic is its strategy. From this point of view, Drucker sees strategy more on how companies try to make things going-on through their own theory of business.
Mintzberg cited a more realistic approach on defining strategy stating that it cannot simply be defined in one way and therefore defined it as a plan, ploy, pattern, position, and perspective. Each of these definitions gives strategy a worth-defining one since it encompasses strategy as a whole and not on a particular point of view. Mintzberg also said that “Organizations need strategy to set direction for themselves and to outsmart competitors, or at least enable themselves to maneuver through threatening environments”.
“Business is like a war in one respect – if its grand strategy is correct, any number of tactical errors can be made and yet the enterprise proves successful” — This states that competitors with the better strategy will win, or as corollary, that a competitor with a clear strategy will beat the one that has none. This is what all of the Gurus has been trying to tell us on how significant strategy is for sustainability. It is certain that a fight for survival today is ongoing and as everything progresses and advances, the fight gets tougher and the only way to survive it for every businesses is through a well-thought of strategy. A strategy that is so significant, which makes it not only different from the rest, but also makes it hard for them to imitate.