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Some examples of companies that have successfully implemented the classical strategy include Procter & Gamble, Coca-Cola, and McDonald's. These companies have a clear understanding of their market and competition, and they execute their strategies in a step-by-step manner, much like creating a still-life painting. They analyze their industry to determine market attractiveness, the basis of competition, and their own firm's position, then execute step-by-step until their strategy is complete.
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If we revisit the artist analogy, think of the classical strategy as a still-life painting. You aren't inventing the image. You can rely on the unwavering subject before you. As a result, employing a classical strategy does not require a great deal of agility. Analyze your industry to determine market attractiveness, the basis of competition, and your own firm's position, then execute step-by-step until your "masterpiece" is complete.
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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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