Strategy Diamond Template
Consider all the elements you need to create an integrated and powerful business strategy.
About the Strategy Diamond template
What is a strategy diamond?
To achieve key objectives, every business assembles a series of strategies. But what elements should you consider when building a strategy? How can you stay ahead of your competitors while also building your brand and bottom line?
A strategy diamond is a collection of elements forming a coherent business strategy. These elements include: Arenas, Differentiators, Vehicles, Staging, and Economic Logic.
What are the advantages of using a strategy diamond? Most strategic plans focus on just one or two of these elements, creating gaps that might cause problems for your business later on. A strategy diamond can help you stay focused and ensure you’re fulfilling all of your business’s needs rather than one or two.
When to use a strategy diamond
The strategy diamond is designed to help you consider the most important questions you’ll need to answer when your team defines your business strategy. Organizing the strategy as a whole, so each part integrates with the others, helps you figure out your business’s goals and the best way to achieve them.
Create your own strategy diamond
Making your own strategy diamond is easy. Miro’s simple whiteboard tool is the perfect canvas to create and share this integrated strategy model. Get started by selecting this Strategy Diamond template.
An effective strategy contains five key elements: Arenas, Differentiators, Vehicles, Staging, and Economic Logic. Remember that it’s important to consider each element in the diamond because they are all interrelated and mutually reinforcing. To ensure you’re meeting your goals, make sure you can answer the following five questions.
Step 1: Arenas - What do we plan to achieve? What is the nature of our products, services, distribution channels, and market segments? What geographic areas do we plan to expand into? What technologies will we use?
Step 2: Differentiators - What sets us apart from our competition? Image, price, product dependability, how quickly we get our product to the marketplace? How will we win the marketplace?
Step 3: Vehicles - How will we get there? Strategic alliances? Development? Licensing
Step 4: Staging - How will we advance our product or positioning? How quickly will we move? In what order we will move forward?
Step 5: Economic logic - How will we obtain our returns? By lowering costs to give value for the price? Providing premium services for premium pricing?
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