Strategy Diamond Template
Consider all the elements you need to create an integrated and powerful business strategy using our template for the Strategy Diamond Model.
About the Strategy Diamond Template
What is a strategy diamond?
A strategy diamond is a collection of the five elements forming a coherent business strategy. These five elements of strategy include Arenas, Differentiators, Vehicles, Staging, and Economic Logic. This model was developed by strategy researchers Donald Hambrick and James Fredrickson.
To achieve key objectives, every business must assemble a series of strategies. But what elements should you consider when building a strategy? How can you stay ahead of your competitors while also building your brand and bottom line? Using a strategy diamond provides a framework for covering all of these important elements of a strategic plan.
How do you use a strategy diamond?
Completing your own strategy diamond is easy. Miro’s visual collaboration platform is the perfect canvas to create and share this integrated strategy model. Get started by selecting this strategy diamond template.
An effective strategy contains these key elements: Arenas, Differentiators, Vehicles, Staging, and Economic Logic. It’s important to consider each of the five elements in the strategy diamond model below because they are all interrelated and mutually reinforcing.
Arenas: What do we plan to achieve? What is the nature of our products, services, distribution channels, and market segments? What geographic areas do we plan to expand into? What technologies will we use?
Differentiators: What sets us apart from our competition? Is it an image, price, product dependability, and how quickly we get our product to the marketplace? How will we win the marketplace?
Vehicles: How will we get there? Will we get there through strategic alliances? Development? Licensing?
Staging: How will we advance our product or positioning? How quickly will we move? In what order we will move forward?
Economic logic: How will we obtain our returns? Will this be achieved by lowering costs to give value for the price? Providing premium services for premium pricing?
What are the advantages of using a strategy diamond?
Most strategic plans focus on just one or two of these elements, creating gaps that might cause problems for your business later on. A strategy diamond can help you stay focused and ensure you’re fulfilling all of your business’s needs rather than one or two.
When to use the strategy diamond model
A strategy diamond is designed to help you consider the most important questions you’ll need to answer when your team defines your business strategy. Organizing the strategy as a whole – so that each part integrates with the others – helps you figure out your business’s goals and the best way to achieve them.
Discover more product strategy template examples to help you build your next big thing.
What is the purpose of the strategy diamond?
The Strategy Diamond Model was developed by strategy researchers, Donald Hambrick and James Fredrickson. This framework helps companies and teams assess all the interrelated aspects of forming a cohesive strategy.
What are the five elements of the strategy diamond?
The five elements of the Strategy Diamond Model include Arenas, Differentiators, Vehicles, Staging, and Economic Logic. These five aspects are related to choices that companies, businesses, and teams must make when defining and refining strategies.
Get started with this template right now.
Timelining
Works best for:
Planning, Timeline
Timelining is a versatile template designed for creating detailed project timelines. It allows you to outline tasks, milestones, and deadlines, helping you manage projects efficiently. Whether for business or personal use, this template ensures you stay organized and on schedule.
ERD Blogging System Template
Works best for:
ERD
The ERD Blogging System template in Miro efficiently manages and organizes digital content. It features key entities such as User, Post, Comment, Category, Tag, and File, which are essential for managing the creation and publication of blog posts, engaging users through comments, and organizing content via categories and tags. Additionally, it supports media attachments through the File entity, linking them to the relevant content. This template helps streamline the blogging process, making it an invaluable tool for content management and publication.
Project - Timeline & Key Infos
Works best for:
Agile, Project Management
The Project - Timeline & Key Infos template provides a visual framework for planning and tracking project timelines, milestones, and key information. It enables teams to align on project objectives, allocate resources, and monitor progress effectively. With customizable timelines and informative dashboards, this template empowers project managers and stakeholders to stay organized and informed throughout the project lifecycle, ensuring successful delivery within scope, time, and budget constraints.
Cynefin Framework Template
Works best for:
Leadership, Decision Making, Prioritization
Companies face a range of complex problems. At times, these problems leave the decision makers unsure where to even begin or what questions to ask. The Cynefin Framework, developed by Dave Snowden at IBM in 1999, can help you navigate those problems and find the appropriate response. Many organizations use this powerful, flexible framework to aid them during product development, marketing plans, and organizational strategy, or when faced with a crisis. This template is also ideal for training new hires on how to react to such an event.
Product Development Phases
The Product Development Phases template assists product teams in managing and tracking product development stages effectively. By defining key phases such as ideation, design, development, and launch, this template provides a structured framework for project planning and execution. With sections for setting milestones, allocating resources, and tracking progress, it enables teams to streamline development processes and drive projects to successful completion. This template serves as a roadmap for navigating the complexities of product development and ensuring timely delivery of high-quality products.
PI Planning Template
Works best for:
PI Planning, Product Management
The Miro PI Planning Template streamlines the Program Increment planning process for Agile teams. It facilitates a collaborative environment, enabling teams to efficiently align on strategies, identify dependencies, and convert decisions into actionable tasks. With features like real-time collaboration, Jira integration, and a centralized workspace, the template supports teams in enhancing efficiency, engagement, and decision-making.