increasing value requires a strategy for progress on at least one of four different fronts: deepening advantages, broadening the extent of advantages, creating higher demand for advantaged products or services, or strengthening the isolating mechanisms that block easy replication and imitation by competitors.

Four Basic Principles of Setting Effective Strategy There are four key principles to keep in mind when setting company strategy. The strategy must descend directly from your vision. Remember, it’s impossible to set strategy unless you have a crystal clear idea of what you’re trying to do in the first place. Vision first, then strategy! The strategy

There is an old aphorism that the key to strategy is playing the games you can win. Of course, life is not a game, nor is corporate management or statecraft. But the essential idea of focusing where you can “win” is neither trivial nor always followed.

strategic leverage arises from a mixture of anticipation, insight into what is most pivotal or critical in a situation, and making a concentrated application of effort.