3 Strategy Statement Examples

A strategy statement is an explanation of a business or organization’s purpose, goals, and resources. These types of vision statements outline a strategic plan for the company’s direction. By explaining how a business model stands out from competitors, strategy statements provide employees with a strong understanding of the organization’s purpose. While any organization or business can implement a strategy statement, they are especially useful for startups and companies entering a new market.

Strategy statements are important because they communicate a clear roadmap for moving forward. As a long-term plan, strategy statements provide stakeholders with a set of goals and initiatives that reflect the business plan. Strong strategy statements unite and focus team members according to the organization’s mission, instilling a strong sense of purpose and motivation throughout the company. Strategy statements are also important because they make a company’s strategy clear to potential customers and partners.

There are three main elements of a strategy statement. These statements include:

1. 1. Competitive advantage: Under the category of competitive advantage, there are three main factors: value proposition, value discipline, and business model canvas. The purpose of the competitive advantage portion of a strategy statement is to communicate how your product strategy is distinct from competitors. As you and your team outline your competitive advantage, consider your target customer and how your core values connect your company with potential buyers.
2. 2. Objective: The driving force behind any strategy statement is the objective, a single, strategic goal that describes the organization’s aspirations. An effective objective is specific and time-bound. It’s also important to identify the type of market—new or existing—and the metrics for measuring your strategic objective over time.
   
3. 3. Scope: A strategy statement also explains resource allocation. The scope considers this factor by outlining the target audience, geographic location, and product. By identifying these components, companies can communicate where resources should go to best meet the demands of the scope dimensions.

An effective strategy statement is clear and concise. It should provide employees with a concrete description of the company’s plan for future years.

1. 1. Reflect on your values. Before brainstorming your goals, consider your organization’s values. Reflecting on the company culture and core beliefs allows you to determine what matters most to the organization. A strategy statement rooted in purpose is more meaningful and effective.
2. 2. Identify your main goals. After identifying your core values, create a template for your long-term goals. During this stage of the planning process, consider organizing a company-wide meeting to include all team members in the decision-making. As a team, brainstorm different objectives that relate to the company’s purpose. Review the list of goals, and decide which objective best aligns with your future business strategy.
3. 3. Create a product strategy. A product strategy is a prerequisite for an effective strategy statement. It communicates the value of the product or service your company offers. Developing a clear description of your product and its marketing strategy helps organizations generate a strong template for a strategy statement.
4. 4. Draft a statement. Keep your strategy statement short, aiming for two to three sentences to state your intent. Include the three elements—competitive advantage, objective, and scope—in your strategy statement.
5. 5. Revise. Review your statement as a team and change any awkward wording to ensure your business objectives are clear and concise. When your strategy statement communicates the full potential of your organization, it’s ready to share.

Consider the following strategy statements examples based on different objectives:

1. 1. Customer satisfaction: When writing a strategy statement that communicates the customer experience, focus on your target audience. You can write: “Our customers live fast-paced lives, so we’re streamlining services to improve connectivity.”
2. 2. Financial growth: Revenue-based strategy statements are another approach you can adopt. To communicate your financial plans, consider writing: “Our goal is to increase shareholder value by growing profits with our new line of products.”
3. 3. Idea development: If your strategy objective is to spread ideas, develop a statement that highlights your vision. You can write: “As a leading innovator in the transportation sector, we’re releasing sustainable vehicles that reduce carbon emissions.”

Get the MasterClass Annual Membership for exclusive access to video lessons taught by business luminaries, including Bob Iger, Chris Voss, Robin Roberts, Sara Blakely, Daniel Pink, Howard Schultz, Anna Wintour, and more.