There are as many types of strategies as there are plans. Every plan has its own objectives, strategies and tactics.
Keep in mind that a strategy is how to achieve the objective. Many people confuse the strategy with the objective.
The internet is making it harder to find ways that are difficult to duplicate. Everyone has more easy access to information than ever before.
Strategies follow the same organizational structure as objectives.
It is important that the functional strategies support each other as well as the Division and Corporate strategies.
All of these are growth strategies. It’s a matter of how you plan to grow.
All of these strategies are decline or going out of business strategies.
These are all strategies for participating in global markets. Again, it’s a matter of how you wish to do it.
E-Business is replacing older technologies such as the fax and telephone as a means of communication.
Whatever model is used, the strategy chosen must be one that can be implemented with a minimum disruption to the organization.
There are many processes for developing strategies. Key to which process is used and which strategy is chosen is the ability to implement the strategy.
Be careful, if your business is doing well, there may be no need to changing your strategy. Changing strategies can be very difficult and dangerous.
Many of these objectives depend on whether your goal is growth, status quo or decline.
SWOT analysis has been a much used model. However, with the environment changing more and more rapidly, it may be less useful in the future.
Porter’s five forces provide a unique and thorough way to view your position. Each of these forces provide different strategies for achieving your objectives.
Wal-Mart is the best example of a cost leadership position and they know how to leverage it.
Wal-Mart gains its cost leadership position through a proprietary inventory and ordering system that allows the company to buy the right products at the right time from the right people.
It is important to remember that even cash cows need to be fed. Under investing in the cows can be very dangerous.
Strategic leadership can be learned. It helps if you have some natural leadership ability to start with.
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