The sum of your conduct as a business is how your strategy is perceived. External parties (especially competitors and large customers) will mainly judge your company and its conduct through the sum of what individuals say and do on the ground. What we plan, say and do in the Exec team/C-suite has to be effectively transmitted through programs which are executed by individuals. What we say in the media may or may not be heard but if it is not congruent with what happens on the ground it will be discounted and credibility damaged.
Price is the primary lens through which conduct is assessed externally but there are many non-price dimensions as well. Choosing the right conduct strategy and aligning the whole organisation and its actions, large and small, with that strategy is a critical dimension of business that is often ignored and in so doing we significantly damage our ability to achieve sustainable results. There are four main conduct strategies, how you use them across your portfolio of businesses, brands, markets and time is a key consideration for every business. An explicit conduct strategy has the added benefit of making us think ahead and better balance the short and the long game.