Beginning a strategic review
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Basic steps to begin a strategic review of your business. Inflect Strategic Solutions provides product management and strategy to businesses that want to improve their revenue, profit margin and strategic position.
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Beginning a strategic review
- 2. Strategy is the basis on which you compete – and is the reason customers buy from you ◦ A good competitive strategy highlights your unique selling proposition
- 3. Strategy is the basis on which you compete – and is the reason customers buy from you ◦ A good competitive strategy highlights your unique selling proposition Things change in your environment and you need to adapt ◦ Mergers, acquisitions, new entrants, new products
- 4. Everyone in your organization has an opinion about what you should do to grow, improve profits, adapt to competition The answers come from thinking through your situation in an organized way!
- 5. SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats
- 6. SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats Porter’s Five Forces of Competition
- 7. SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats Porter’s Five Forces of Competition Life Cycle Analysis
- 8. SWOT Analysis: Strengths, Weaknesses, Opportunities, Threats Porter’s Five Forces of Competition Life Cycle Analysis Verify with outside stakeholders including customers, suppliers, distributors
- 9. Pros: ◦ Easy to engage a wide team ◦ Basis for great discussions
- 10. Pros: ◦ Easy to engage a wide team ◦ Basis for great discussions Do it Right: ◦ Get input from outside your organization too ◦ Ask hard, open-ended questions in particular about opportunities and threats ◦ Strengths do not necessarily equal Sustainable Competitive Advantages
- 11. Analyze the strengths of each force acting on your competitive environment
- 12. Do the forces at work allow you to make a good profit, or do they combine to drive down profits in your market?
- 13. Do the forces at work allow you to make a good profit, or do they combine to drive down profits in your market? Watch out for interactions between the forces in this model, as well as actions of regulations – these can complicate the conclusions you draw.
- 14. Do the forces at work allow you to make a good profit, or do they combine to drive down profits in your market? Watch out for interactions between the forces in this model, as well as actions of regulations – these can complicate the conclusions you draw. Consider whether you have the resources to respond as the model would suggest.
- 16. In general, the life cycle concept holds up
- 17. In general, the life cycle concept holds up It is critical to remember that the shape of the curve is different for every market
- 18. In general, the life cycle concept holds up It is critical to remember that the shape of the curve is different for every market Changes in features, segmentation and messaging can change the profile of your life cycle
- 19. In general, the life cycle concept holds up It is critical to remember that the shape of the curve is different for every market Changes in features, segmentation and messaging can change the profile of your life cycle Today’s faster rate of business means life cycle stages don’t last as long as in the past
- 20. No single model or analysis will answer all your questions or create the perfect strategy
- 21. No single model or analysis will answer all your questions or create the perfect strategy Combine what you learn from each analysis with what you know about your market to form your competitive strategy: one that increases your revenue and profit margin
- 22. We use these and other tools every day to help clients increase their revenue, improve their profit margin, and stabilize their strategic position.