I immediately had to question, what is the difference between strategy and plan?
On the brief it told us “Strategy is an overused concept with lots of misperceptions about what makes strategy and what does not. We will establish to a common understanding of what strategy is and whether there are different types of strategies for different type of circumstances.” This is something bigger. Strategy is more a development for long term then a plan which is short term.
Strategy is more a development a long term then a plan which can be short term. However, even with a familiar term, it is an unknown practice for beginners. Today we were introduced to the BSG, BUSINESS STRATEGY GAME. Very intimidating because it was all unknown, but that was actually quite thrilling. We grouped in teams of three and I was lucky to be working with Bharat and Kantida, two very smart classmates that I admire greatly. We could tell we worked well together, mostly because all these new terminologies and ventures were driving our curiousity indivudally and as a team. We did a few practice round where we just learned the structure of the website then we were off for a 8 week journey of competitely owning a 10 year business. We immediately started collaborating with teams for the handbooks so that we all could work equally together. Then was the research. We were the new owners of a footwear company so we needed to understood where we stood in the market. We had to pivot our strategy of focusing on superior material while balancing prices in internet, whole sale, and private label.