There is no a ready-made strategy for any company in the universe because all business are different in nature. But there is a format to follow or answer. "Without a strategy, the organization is like a ship without a rudder.” (Joel Ross and Michael Kami). The strategy consists of competitive moves and business approaches used by managers to run the company.
The answer to the following question is a company’s useful strategy.
(1) What is the company’s present situation? ( One must know where he/she is. And know what they have, what they don’t have; If they don’t know where they are now and what they have , they definitely won’t know where they want to go, nor what they want)
(2) Where does the company need go from here? ( One must know where he/she wants to go, if they don’t know where to go, they can not how to start and how to go)
(i) Businesses to be in and market positions to stake out
(ii) Buyers needs and groups to serve
(iii) Direction to head
(3) How should it get there? (If one knows, where to go, it is easier to find out which transportation is available to go there, where there is no airport, one can not go by air. So one must know available and possible routes to go there, and also one must know what are the problems or difficulties on the way to go there, prepare anything to overcome those difficulties).
Management’s action plan to
(a) Grow the business (How to grow business, what kind of business you want to do, who do you want to serve?)
(b) Attract and please customers (How to please customers, who are they, what they want?)
(c) Compete successfully (How to find out compete rivals, how strong is the competition, Are you alone out there, almost impossible. Know your enemy to win the battle)
(d) Conduct operations (How to manage each functional piece of the business (R&D, production, marketing, HR, Finance and so on, do you have enough people and resources, if not how to find?)
(e) Achieve target levels of organizational performance (How to respond to changing market conditions, how to achieve target level of performance; what is your standard for performance? Are you capable of coping with the changing market?)
Setting the route and answering the above questions is a perfect strategy for any company.
The answer to the following question is a company’s useful strategy.
(1) What is the company’s present situation? ( One must know where he/she is. And know what they have, what they don’t have; If they don’t know where they are now and what they have , they definitely won’t know where they want to go, nor what they want)
(2) Where does the company need go from here? ( One must know where he/she wants to go, if they don’t know where to go, they can not how to start and how to go)
(i) Businesses to be in and market positions to stake out
(ii) Buyers needs and groups to serve
(iii) Direction to head
(3) How should it get there? (If one knows, where to go, it is easier to find out which transportation is available to go there, where there is no airport, one can not go by air. So one must know available and possible routes to go there, and also one must know what are the problems or difficulties on the way to go there, prepare anything to overcome those difficulties).
Management’s action plan to
(a) Grow the business (How to grow business, what kind of business you want to do, who do you want to serve?)
(b) Attract and please customers (How to please customers, who are they, what they want?)
(c) Compete successfully (How to find out compete rivals, how strong is the competition, Are you alone out there, almost impossible. Know your enemy to win the battle)
(d) Conduct operations (How to manage each functional piece of the business (R&D, production, marketing, HR, Finance and so on, do you have enough people and resources, if not how to find?)
(e) Achieve target levels of organizational performance (How to respond to changing market conditions, how to achieve target level of performance; what is your standard for performance? Are you capable of coping with the changing market?)
Setting the route and answering the above questions is a perfect strategy for any company.
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