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How to Define Your Strategy
What is Strategy? When your friends tells you that their “strategy” in baseball is to win, they is not telling you a strategy at all. A strategy is a plan of action designed to achieve a goal, in the case of your friends, a more appropriately defined strategy for their baseball game would be: “I am going to apply defensive pressure and force the opposing team to make mistakes with the end goal of winning the game”.
In this training, you will learn that you must first clearly define your goals before you develop strategies in order to achieve them. You will also learn that strategy in business is similar to strategy in sports, war, or politics; the parallels are so close that early business strategists studied military strategies in depth. The science of strategy development has developed beyond this by now, but the parallels still exist.
Strategic management involves two processes:
- First, the process of identifying specific goals for a firm and designing strategies to achieve those goals;
- Second, the process of implementing those strategies.
It is easy to say that your goal is to increase sales by 50% in three years, but how do you go about achieving that goal? Are you going to lower prices, acquire a competitor, move into other businesses, or something else? Assuming you are going to lower prices, how are you going to do so and keep profits up? These are the sorts of questions that strategists must answer.
On this training solution you will receive:
- Detailed Explanation of Strategic Management;
- Requirements to define a proper Strategy;
- Powerpoint & PDF Slides with Several Versions of the Method;
- Forum Interaction with 48 hours SLA response time with the Offset Analytics Consultants;
- Email Interaction for with One of the Senior Offset Analytics Consultants for brainstorming
You can submit your question at anytime: we will be in touch!