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Charting your company's future.

W Chan Kim1, Renée Mauborgne

  • 1chan.kim@insead.edu

Harvard Business Review
|June 7, 2002
PubMed
Summary
This summary is machine-generated.

Develop a clear strategic vision using a strategy canvas, a visual tool that maps industry competition and company profiles. This four-step process aids in creating distinct, communicable strategies for business success.

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Area of Science:

  • Business Strategy
  • Strategic Management
  • Competitive Analysis

Background:

  • Traditional strategic planning often results in unfocused strategies due to complex data and conflicting agendas.
  • A clear strategic vision is crucial for company success but is often lacking.

Purpose of the Study:

  • To introduce a visual strategic planning process using a strategy canvas.
  • To provide a four-step method for creating and communicating distinct business strategies.

Main Methods:

  • The study outlines a four-step process: visual awakening, visual exploration, visual strategy fair, and visual communication.
  • A strategy canvas visually maps industry factors, competitor profiles, and a company's strategic profile.
  • Field research and customer feedback are integral to refining strategic profiles.

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Main Results:

  • The strategy canvas and its value curve tool help identify areas for strategic change.
  • A European financial services company successfully used this process to develop a distinct strategy.
  • The visual approach facilitates easier communication of strategic direction throughout an organization.

Conclusions:

  • A strategy canvas offers a more effective approach to strategic planning compared to traditional document-heavy methods.
  • Visualizing strategy aids in aligning company projects with the desired future strategic profile.
  • This method fosters a clearer, more communicable, and actionable strategic vision.