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Some common pitfalls to avoid when navigating various strategic approaches include:
1. Lack of clear vision: Without a clear vision, it's difficult to create a strategy that aligns with your business goals.
2. Not considering external factors: Ignoring market trends, competition, and customer needs can lead to a strategy that is out of touch with reality.
3. Lack of flexibility: In a rapidly changing business environment, it's important to be able to adapt your strategy as needed.
4. Not measuring results: Without measuring the results of your strategy, you won't know if it's working or not.
5. Ignoring the need for a unique value proposition: Your strategy should help you differentiate your business from competitors.
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Be open to discovery. Apple uses several approaches depending on its function. The Apple Store is a shaping approach; the iPhone was and continues to be visionary while shaping the manufacturers' ecosystem. The company adapts to changing needs and those it anticipates, too, while scaling the company to remain a global leader.
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We live in a business world that is in constant flux. But when you learn and understand the five strategy archetypes and how to execute them, you will...
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