2. What is Strategic Development ?
• Strategy is a high-level plan to achieve desired goals under conditions of uncertainty. .
Strategy generally involves setting goals, determining actions to achieve the goals, and
mobilizing resources to execute the actions. A strategy describes how the ends (goals) will
be achieved by the means (resources).
Developing The Strategy :
Defines the organization’s purpose and goals.
Examines the external and internal environment
Identify opportunities and constraints regarding that strategy.
3. Strategic Development Process Steps :
Crafting mission , vision and value statement –
Strategic goals – Strategic analysis
Formulating and launching the strategy
These strategy development steps address the following
four questions:
1. What business are we in and why?
2. Where are we going in market value?
3. What are the key issues that strategy must address?
4. How can we best compete our competitors?
4. MISSION – VALUES - VISION
Mission The mission is
a brief , typically one-
sentence , statement
that defines the
fundamental purpose
of the organization. Value The value of
a company
prescribe its
desired behavior ,
character , and
culture.
Vision• The vision
is a concise
statement that
defines the mid-to
long- term (three
to ten years) goals
of an organization.
Characteristics of
vision
– External Market
oriented
– Express
preferably in
clear, specific
aspirational
terms
– Measurable
5. Strategic Analysis :
• External Analysis :
• PESTEL model assesses the macroeconomic environment . Reflecting its political,
economic , social , technological , environmental and legal components.
• Internal Analysis :
• The internal analysis examines an organization’s own performance and
capabilities.
SWOT analysis :
Identifies the company’s –Existing strengths and weaknesses (internal attributes) –
Emerging opportunities and worrisome threats (external attributes).
6. Formulating and launching the strategy
• Strategy formulation – The
stage of strategic management
that involves the planning and
decision making that leads to
the establishment of the
organization’s goals and of a
specific strategic plan.
7. Strategic Implementation :
• Strategy implementation is the translation
of chosen strategy into organizational
action to achieve strategic goals and
objectives.
• This is where the real action takes place in
the strategic management process, since
this is where the tactics in plan will be
transformed into actions or actual
performance.
8. Basic Activities
In Strategic
Implementation
:
Establishment of annual objectives
Formulation of policies for execution of
strategies
Allocation of resources
Actual performance of tasks and activities
Leading and controlling the performance of
activities or tactics in various levels of the
organization
9. Avoid the Implementation Pitfalls :
LACK OF
OWNERSHIP
LACK OF
COMMUNICATION
A MEANINGLESS
PLAN
NO PROGRESS
REPORT
NO
ACCOUNTABILITY
LACK OF
EMPOWERMENT
DISCUSSING
STRATEGY
ANNUALLY ONLY.