"He (Jerry Yang, ex Yahoo CEO) has never even given a convincing answer to the question of what Yahoo!’s strategy should be in an ideal world. To be a “starting point” for half a billion web surfers, Mr Yang likes to say. But how is that different from the old “portal” idea which stopped working long ago, or the search box that Google in effect controls?"
The Economist
November 15, 2008
At its core, a company's strategy statement is a declaration of why the company exists; the reason customers should consider buying what it sells. It is the foundation upon which all business plans are built.
If a potential customer walked into your office and asked you why they should consider buying from you, what would you say? If you have a clearly defined strategic statement that unequivocally separates you from the competition, you know.
And if you don't . . .
November 15, 2008
At its core, a company's strategy statement is a declaration of why the company exists; the reason customers should consider buying what it sells. It is the foundation upon which all business plans are built.
If a potential customer walked into your office and asked you why they should consider buying from you, what would you say? If you have a clearly defined strategic statement that unequivocally separates you from the competition, you know.
And if you don't . . .
What has happened at Yahoo is not Jerry's fault.
ReplyDeletethat strikes me as an overly simplified statement. as the ceo of a company, one has to accept a large part of the credit and blame for what happens to the company.
ReplyDeleteso while i agree that jerry can't control the economy and how that has impacted yahoo, his decision to turn down the microsoft buyout seems to have been a huge mistake (with or without the benefit of hindsight).
I think we need to be careful of absolutes. Jerry is not the sole reason Yahoo is in trouble just as he is not without blame that they are.
ReplyDeleteThat aside my original intent in including this quote was to make the point that having a clearly stated strategic purpose, one that conveys benefit to the target consumer, is essential to success.
I don't know if Yahoo did or does. Clearly The Economist doesn't think so.