What is Strategy and Disruptive Innovation?

What is Strategy?
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What is Strategy?
Question #1: What is Strategy?
The definition of strategy has evolved over time to suit the nature of business environment that a company is subjected to. Since Peter Drucker’s 1960s definition to Michael Porter’s 1980s definition and now Gail McGrath and Clayton Christenson’s redefinitions, strategy has been a valuable tool towards ensuring that businesses achieve success. As published by Ovans (2015) in the Harvard Business Review, strategy is a combination of the old and the new with an aim to ensure that one develops a unique approach of operations and productivity. It is the development of unique and outstanding approaches to conduct different activities. For instance, in marketing, developing an effective strategy would involve ensuring that an organization utilizes unique marketing approaches, that will ensure that the business experiences outstanding marketing performance. A company needs to evaluate untapped niches in the process of developing a strategy while ensuring that they focus on using the niches to achieve the business objectives. The use of technology in marketing has been a effective move in developing the marketing strategy since technology offers a unique and valuable position in marketing. An effective strategy as defined by Porter needs to consider the five forces to ensure that it is highly effective. In order for a business to establish outstanding performance using it strategy, it needs to be alert on changes that happen around new entrants, buyers, suppliers, competition and availability of substitutes. Strategy also ensures that it creates a sustainable environment to conduct business through ensuring that adaptability to change is guarantee...