Managing a business and the people who make it function, it is important to know the correct tactics and strategies that can mean the difference between being an effective leader or an ineffective one. Businesses rely on the people who work within their structure and it’s important to know different strategies for managing different types of people in different situations. In this presentation, you will find what are five of the most useful strategies that managers and executives should know, as well as when and where they’re most commonly found in the business world.

2. The Strategy Palette
The following strategies were adapted from Your Strategy Needs a
Strategy, a book written by the global strategy experts from Boston
Consulting Group, Martin Reeves, Knut Haanæs and Janmejaya Sinha.

3. 1. The Classical Approach
This is the standard approach taken with the end goal
of becoming the biggest company in your field. It’s the
classic analyze-plan-execute method with the aim to
achieve sustainable competitive advantage and growth
through scale and differentiation.

4. 2. The Adaptive Approach
This is aimed at companies that want to be able to react
faster than the competition. This works to respond
quickly to changing markets and events by
experimentation and then a fast scale-up of whatever
solution works.

5. 3. The Visionary Approach
This is the most entrepreneurial approach to business
and management. It’s associated with startups and big
companies looking to stay relevant and is focused on
finding new business possibilities.

6. 4. The Shaping Strategy
This approach focuses on creating partnerships and
using collaborations to reshape industries and the way
business is done. It’s frequently highly technological
and uses digital platforms as well.

7. 5. The Renewal Strategy
This strategy looks to help failing and floundering
businesses by conserving resources and leading the
company back to growth.

8. These are just 5 of the best management strategies for
businesses in any stage of their growth. It’s not enough
to only choose one strategy either. Many businesses will
make use of more than one of those listed above, if not
all of them.
The best rule in business is to be adaptable and to use
whatever tools you have or know about that will help
you and your team be the most effective and efficient in
your field. By using these strategies at the right time,
you can make sure to help your business thrive, even
when the cards are looking down.