Where to play and how to win – strategy fundamentals the Procter & Gamble way

This masterclass offers a guide to the disciplined approach to getting strategy fundamentals right and the strategy review process that A.G. Lafley and Roger Martin developed at P&G.

The article demonstrates how P&G practiced a process that revolves around five major interrelated questions and the choices that flow from them.

The article shows how a key determinant in searching for the right match between potential where-to-play and how-to-win alternatives is whether and how the combination will draw on a company's unique strengths in a way that competitors will find difficult to replicate or neutralize.

The article describes how P&G developed an innovative dialogue-driven approach to creating, reviewing and communicating strategy, in which the process of assertive inquiry, as opposed to more conventional advocacy, came to play a key role.

Executives are offered a step-by-step guide through the five questions and two key tools which structure P&G's generation and analysis of where-to- play and how-to-win alternatives and the companies “strategy logic flow” and “possibilities-based strategy” methodologies.