BUSINESS STRATEGY
Strategy has been defined as the long-term direction of a business; perhaps to challenge the notion that ‘if you don’t know where you’re going, any road will get you there’.
Do you have a strategy?
External Analysis
Can you analyse where your organisation is relative to the external factors affecting the organisation?
The PESTEL analysis tool looks at the external macro factors affecting your business and derives possible solutions. It takes into account the following factors:
- Political
- Economic
- Social
- Technological
- Environmental
- Legal
Competitive Analysis
Can you analyse where your organisation is now relative to the competition?
Porter’s Five Forces Model can provide insight into your standing among the competition by determining factors affecting profitability. The five forces are:
- Competitive Rivalry
- Bargaining power of Customers
- Bargaining power of Suppliers
- Threat of new Entrants
- Threat of Substitutes
Competitive Analysis
Can you analyse where your organisation is now relative to the competition?
Porter’s Five Forces Model can provide insight into your standing among the competition by determining factors affecting profitability. The five forces are:
- Competitive Rivalry
- Bargaining power of Customers
- Bargaining power of Suppliers
- Threat of new Entrants
- Threat of Substitutes
Situational Analysis
A SWOT analysis is a strategic planning and managements technique used to help identify strengths, weaknesses, opportunities, and threats related to business competition or project planning.
Often used in the early stages of the decision-making process, it is intended to identify the internal and external factors that are favourable and unfavourable to achieving the organizational objectives.
Capability Analysis
What are you capabilities now and what capabilities will you need to reach your strategic goal?
A VRIO analysis will help establish this. This analysis is excellent for the evaluation of a company’s resources and thus competitive advantage. It looks at the following dimensions:
- Value
- Rareness
- Imitability
- Organisation
Capability Analysis
What are you capabilities now and what capabilities will you need to reach your strategic goal?
A VRIO analysis will help establish this. This analysis is excellent for the evaluation of a company’s resources and thus competitive advantage. It looks at the following dimensions:
- Value
- Rareness
- Imitability
- Organisation
KEY ELEMENTS
Above are some of the ways to see where your organisation is, strategy is using that information to decide where it should go; taking into account the resources, competition, capabilities and situational analysis – ultimately, we want to develop a plan to achieve that objective.
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Want to learn more?
Get in touch to discuss any aspects of your organizational strategy, how to plan getting from ‘here’ to ‘there’ and how to implement the plan.