Strategy – six steps

The function of strategy is to ensure that the organisation’s human, physical and financial resources are consistently placed in the most profitable position to provide the chosen customers with what they want when they want it.

The strategic process

Step 1: Goal setting (Overview)

Vision, mission (business purpose), business idea and corporate objectives need to be established as the essential theme of the business. They need to be constantly fine tuned and/or reviewed as part of the balancing or positioning process (see Step 3 below).

Step 2: Situation review (Where are we now?)

Detailed research and analysis:

  • external factors and business intelligence
  • market statistics/dynamics and segmentation
  • SWOT (strengths, weaknesses, opportunities, threats)
  • competitor analysis
  • establishment of strategic assumptions
  • personal goals and objectives.

Login Required