1. Baxendale Walker – Three important factors
for strategic planning
Three important factors for strategic planning
Formulating and implementing a strategy for business development must always begin with
deepening one’s perception of the ways in which the existing strategies are operating and how
the company is doing in comparison to other businesses in the same sector. Take into account the
following three points, which will help you to begin Baxendale Walker the process of strategic
planning.
To start with, how are the existing business operations doing at the present time? It’s very
helpful to take into consideration what elements are driving the profitability of the business,
whether the internal structure must be changed and how successful the company is in comparison
to competitors in the market. At this stage, one must be as objective, honest and realistic as you
possibly can, in order to gain a correct perspective of the company’s current state.
Secondly, the path of the business should be taken into consideration. If the organization
continues on as it is, where will it be in five or ten years time? At this point, the targets, values
and core mission of the company must be assessed and re-evaluated if necessary. Possibly the
focus of the business needs to be changed, or a new USP must be created in order to gain a
competitive advantage over competing firms in the same industry.
Lastly, take some time to mull over the strategies which must Baxendale Walker be developed in
order to achieve these targets. Current processes and methods may need to be improved or
2. replaced entirely. The financing and structure of the business might also require reassessment, in
order to meet the new and developed vision for the company.
Although the second point, regarding the central vision of the company is probably the most
important, it can only happen within the context of the other two points. The ‘big dream’ for a
company must always be balanced with a realistic perspective of the current position of the
business.
