LOGIC, ASSESSMENT, PROOF, AND JUDGMENT
How can you BETTER KNOW (LOGICALLY SUPPORT OR ‘PROVE') that you actually developed a good strategy that is: 1) A unique position (a unique specific fit), 2) Excludable (keeps others from taking away your advantage) and 3) Sustainable over a long term?
Last week, we discussed that experts, data and models are faulty - usually VERY faulty - as prediction (forecasting) tools. History surely gives important lessons, but does not repeat itself (sometimes it "rhymes" as the saying goes), so historical examples are suspect. Since a good strategy is by definition a UNIQUE position, the fact that a same or similar strategy works for a competitor (or worked for one once) is no proof that it will work for you in THIS particular macro, competitive and industry environment for your PARTICULAR firm in the future. Lastly, assuming it is a good strategy and you can convince others that it is...How do you keep others from invading your strategic position (fit) and taking away your advantages (How do you effectively EXCLUDE others - think COST of doing this as well as practical effectiveness)?
Have fun with this one - use examples.