What’s your Strategy?

A low-cost strategy implies a supply chain strategy that cuts costs, and indeed, companies that follow this strategy typically favour rationalisation and synchronisation strategies over innovation and customisation.

A focus strategy implies a supply chain strategy that helps to make the product or service more special in the eyes of the customer. These companies should favour customer-oriented strategies, such as customisation or innovation, over low-cost strategies.

A differentiation business strategy means a supply chain strategy that achieves the ability to serve a mass market yet be different from other companies on one or more dimensions. Indeed, companies that try to differentiate follow an innovation strategy more than companies that do not differentiate.

Remember, You don’t need to be good at many things; You need to be great at one.