How to develop business strategies for success
Business strategy development starts with a look at the existing situation of the business by answering questions like:
Do the businesses in the existing portfolio constitute a good fit?
Does the company have any competitive strengths?
What approach is best for exploiting opportunities in tomorrow's world?
Strategy Development for Big Businesses
Big businesses formulate strategies at different levels.
Corporate Strategy: The CEO and top management work at developing:
A Vision Statement outlining the likely scenario in tomorrow's world
A Mission Statement setting down the role the business wants to play in that world
A statement of objectives translating that role into specific goals in terms of business portfolios and business results
A strategy report specifying th...