Strategy

Gurdeep Singh Raina
 


Visitors: 464

What is strategy?

Definition: strategy is what we want to do, what we want our organization to be & where we want it to go.

Why do we need a strategy?

- for understanding our position in the market place - to give some sense of direction - focusing on key issues

What does a strategy involve:

- Where are we now & how did we get there? What did we do well or badly to arrive at our current position - What business are we in? Will this remain the same or will we need to change over business? If so, what? - What factors, internal or external to the organization will or can have a telling impact on what we do in the future?

The steps written in “What does a strategy involve” above are a continuous process.

Where does strategy fit:

Strategy Models:

# Growth model

Growing market share by reduction in production cost & increasing sales # Porter’s 5 forces model: # Growth by Mergers, Acquisitions & Takeovers [Inorganic growth model] - GE / Mckinsey Model [latest] - BCG [old strategic tool] - Value Chain –Porter - Core Competitiveness – C K Prahlad/ Gary Hamel

- GE / Mckinsey Model

It’s also called as Product Portfolio Matrix.

- BCG

- Value Chain

- Core Competitiveness

- How does activity “X” significantly improve the end product for the customer?

- Does “X” offer access to a range of application & needs?

- What would happen to our competitiveness if we lost our strength in “X”?

- How difficult is it for others to imitate activity “X” & compete with us?

- 7S – Mckinsey

Strategists: Ansoff, Porter, Prahlad, Hamel, Mintzberg, Goldratt, Tom Peters

Guidelines for strategic formulation: - be different - learn from the past - change continuously - be innovative - involve people [CFT – cross functional team]

Strategic analysis: - external environment – SLEPTW analysis - internal environment – SWOT - competition – 5 forces model

While making a strategy, look for the following perspectives also: - strategic horizon - alternate strategy - leadership - customers - people - control - integration - processes - results

During the process of strategic formulation: - seriously question - involve everyone - avoid “paralysis by analysis” - encourage & foster innovation & creativity - go for a balance - embrace conflict - remember that strategy never stops

4 types of organizations: - short lived - watchers - learning organizations & - movers

Strategic formulation & implementation:

Learning strategy framework

(481)
Tags:

Article Source:


 
Rate this Article: 
 
Linking Strategy - A Brief Explanation Of Linking Strategy For SEO Beginners
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Changing Strategy Without Losing Your Customers - Three Vital Steps to Refining .

by: Rick Weaver (May 30, 2005) 
(Business/Strategic Planning)

Article Marketing Strategy - An 'Alternate' Strategy That Can Net You 5 Figures .

by: Fabian Tan (July 27, 2008) 
(Writing and Speaking/Article Marketing)

FX Trading Strategy - A Proven Strategy to Catch Every Big Move and Target ..

by: Kelly Price (July 03, 2008) 
(Finance/Currency Trading)

Forex Trading Strategy Want to Trade? Check That You Have This in Your Strategy .

by: Kelly Price (July 23, 2008) 
(Finance/Currency Trading)

SEO Strategy Effective Search Engine Optimization Strategy

by: Vimalm Mistry (June 25, 2008) 
(Internet and Businesses Online/SEO)

Trading Strategy - A Strategy For Your Losing Stocks Is Just As Important As ..

by: Jimmy Slagle (March 04, 2008) 
(Investing/Stocks)

Public Speaking Strategy For Success - A Simple Strategy That Works

by: Regina Maniam (March 05, 2007) 
(Writing and Speaking)

Search Engine Strategy - SEO Strategy

by: Nick Hunter (September 27, 2006) 
(Internet and Businesses Online)

Trading Strategy - How To Cut Your Losses And Let Your Profits Run, The Core Of .

by: Jimmy Slagle (February 26, 2008) 
(Investing/Day Trading)

Linking Strategy - A Brief Explanation Of Linking Strategy For SEO Beginners

by: Elaine Currie (June 03, 2007) 
(Internet and Businesses Online)