What is the strategy diamond model?

A Strategy Diamond is a crisp way to analyze, visualize, summarize, and share your strategy for your product or your business. Strategy is about making important choices, and the real power of a Strategy Diamond is that it integrates important choices into a bigger picture, instead of as a piecemeal approach.

What is staging in strategic diamond?

Staging and pacing constitute the fifth and final facet of the strategy diamond and answer what will be our speed and sequence of moves? Staging and pacing reflect the sequence and speed of strategic moves. The staging and pacing facet also helps to reconcile the designed and emergent portions of your strategy.

What are arenas in the strategy diamond?

They identify five elements of strategy: arenas—where a firm should be active; vehicles—how it can enter the arenas; differentiators— how it can win in its markets; staging—sequence and speed of moves; and, at the core of their framework, economic logic—how the firm plans to obtain its returns.

What are the elements of an IKEA strategy Diamond?

Ikea offers inexpensive, Scandinavian designed furniture, through its retail stores. As you’re aware most of the furniture requires home assembly. The elements of their strategy diamond are below: As you can see, Ikea’s arena is young people to whom they sell inexpensive furniture. Their vehicle is wholly owned stores.

What kind of business strategy does IKEA have?

The IKEA Concept starts with the idea of providing a range of home furnishing products that are affordable to the many people, not just the few. It is achieved by combining function, quality, design and value – always with sustainability in mind. The following points constitute integral elements of IKEA business strategy.

What can you do with the strategy Diamond framework?

The strategy diamond framework can be used systematically to examine a venture’s strategy logic and its strategy execution. The strategy diamond is more a checklist than a model. It suggests that good strategies include answers to a series of related questions spanning target markets, growth vehicles,…

Who is the creator of the strategy Diamond?

The strategy diamond model was developed by strategy researchers Don Hambrick and Jim Fredrickson as a framework for checking and communicating a strategy.