Strategy Recap 2: Who are you?

Strategy Recap 2: Who are you?

We learned many frameworks in strategy class, such as the 5 Forces, Value Chain, PEST, etc. Of the many frameworks we learned, I like the framework for “Who/What/How” the most. It is the most reliable when I doubt how to analyse a matter or case.

The framework is simple but gives us deep insight that applies to anything. First, the framework requires us to define who our customer is. The customer is not only about external customers. We can apply it to internal politics, office work, our boss, and direct reports. We sometimes do jobs without considering who the customer is for this meeting, deal, event, etc. However, without defining the customer, nothing can not begin.

Second, the framework requires us to define our product. In other words, what can we offer our customers that gives them a stronger advantage over competitors? If you think about job hunting, what do you have, and what skillset do you sell to the target company (= customer)? If I think about myself, my product is “strategy making and global operational management based on a strong background of Accounting and Finance experience and diversified academic learning.”

Third, the framework requires us to define how we sell our products to our customers. I understand Who and What defines how to sell. “How” is followed by our customers and products, and we have many options for selling.

Fourth, after defining Who/What/How, we need to verify what we or the case dos and don’ts. The important point of the process is understanding what we/the case don’ts are. The key to strategy, not only in business but in personal life, is what we don’t. What we don’t do shows our priority. Any organisation and we have limited resources. Money is a typical example, but time is more important. We have time equally but can’t increase, decrease, and reverse it. So, prioritising things and deciding what we don’t do is very important. At the same time, deciding not to do it requires courage, as we frequently want both. However, everything is a trade-off. If you want A, you need to leave B.

Fifth, we need to verify the strategic consistency internally and externally. The process shows how the strategy is logical and reasonable. Internal consistency is the strategy for the organisation, and external consistency is the customer strategy.

Finally, we need to explain So-what. In other words, it is our punchline. It is easy to analyse each Who, What, How, Dos, Donts, and consistency factor. However, in the end, the punchline is the matter. In a sense, the strategist must be good at not only analysis but also storytelling.

Who/What/How is one of the most useful frameworks to consider in business and personal life.