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In The News:

Test Your Business Strategy

January 6, 2011

McKinsey Quarterly recently posted a useful article on testing your business strategy. The article presents 10 tests to carry out.

Among them:

  • Will your strategy beat the market?
  • Is your strategy granular about where to compete?
  • Does your strategy embrace uncertainty?

And, perhaps one of the most important: Have you translated your strategy into an action plan?

McKinsey explains its tests: "Ultimately, strategy is a way of thinking, not a procedural exercise or a set of frameworks. To stimulate that thinking and the dialogue that goes along with it, we developed a set of tests aimed at helping executives assess the strength of their strategies."

Read that article on testing your strategy here.

MDM has a number of articles on the topic of strategic planning for distributors in its archives.

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