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asked 9 months ago
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1) develop a vision and a mission
-they need to be short, clear and understandable. Be the main goal driver for the business. For example Disney 'to make people happy'.
2) setting objectives
Short term & long term objectives. These need to be measurable.
3) crafting a strategy
Macro and Micro economic analysis. Use of the different models such as SWOT, PEST/LE, BOSTON MATRIX, ANSOFF MODEL. There are others which can be used for the formulation of strategies such as Mintzberg (However covering this as an assignment i didnt find that model useful. That is my opinion). Covering the internal and external environments through the use of Porters five forces.
4) implementation and excustive strategy
5) evaluating performance, reviewing the situation & initiating corrective adjustments
-they need to be short, clear and understandable. Be the main goal driver for the business. For example Disney 'to make people happy'.
2) setting objectives
Short term & long term objectives. These need to be measurable.
3) crafting a strategy
Macro and Micro economic analysis. Use of the different models such as SWOT, PEST/LE, BOSTON MATRIX, ANSOFF MODEL. There are others which can be used for the formulation of strategies such as Mintzberg (However covering this as an assignment i didnt find that model useful. That is my opinion). Covering the internal and external environments through the use of Porters five forces.
4) implementation and excustive strategy
5) evaluating performance, reviewing the situation & initiating corrective adjustments
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Guest
answered 8 months ago
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