Goal Setting

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


Strategy Formation

Developing specific actions.

  • using the information
  • prioritizing
  • making decisions - how to address key issues
  • seek to find ways of maximizing
    • profitability
    • maintaining a competitive advantage


Strategy Implementation

Putting the actual strategy into practice to meet organizational goals.

  • gather all the available and necessary resources
  • creating budgets
  • programs
  • policies to meet
    • financial
    • management
    • human resources
    • operational goals
    • cooperation between management and other personnel


Strategy Monitoring

After its implementation

  • monitoring
  • evaluating
  • determine yields
  • compare anticipated results
  • adjust the plan to adapt to changing trends