Creation of goals, a mission statement, values and organizational objectives.
- Organizational Goals
- Mission Statement
- Values and Objectives (pursuit of strategic opportunities)
- Strategic Decisions (sales targets, higher revenue generation)
- Plan how to compete
Analysis Strategy Formation
Strengths and Weaknesses.
- internal analysis
- external analysis
- emerging technology
- new competition
- changing technology
- emerging markets
Developing specific actions.
- using the information
- making decisions - how to address key issues
- seek to find ways of maximizing
- maintaining a competitive advantage
Putting the actual strategy into practice to meet organizational goals.
- gather all the available and necessary resources
- creating budgets
- policies to meet
- human resources
- operational goals
- cooperation between management and other personnel
After its implementation
- determine yields
- compare anticipated results
- adjust the plan to adapt to changing trends