Business Strategy

1
Business Strategy
This is the pattern of decisions and actions that
are taken by business to achieve its goals. The
implications for the human financial and
production resources are also examined. To be
successful the strategy must be related to the
firms strengths and opportunities within the
marketplace. The diagram shows how strategy is
formulated
2
Hierarchy of Strategy
Corporate
Business/Divisional
Operational/Functional
Individual
3
The Strategic Planning Process
Missions, goals, purpose
Internal External analysis
Corporate/Business (etc.) strategies
Implementation
Evaluation
4
Evaluating Strategy

• All firms have strategy. Even if its not
  written down, it is shown in their pattern of
  behaviour
• Some argue strategic planning is a waste of time
  in todays ever changing environment
• Strategies must be S.M.A.R.T.
• Constant reviewing and monitoring is vital
• Success can be measured via - Profit
• - Return on capital
• - Volumes
• - Costs
• - Qualitative factors.