2Make Objectives and Issues Clear
What Is the Objective of Strategy Building?
Let's start coming up with strategic options. But first, don't go straight into thinking up options. There are a few things that we must keep in mind.
You must first have a clear vision of the goal and purpose of your strategy building. Now, you might think: isn't it to establish a competitive edge to come out on top? Correct. That is the ultimate objective of a strategy.
However, depending on the current situation, circumstances, as well as the company's business outlook, the specific goal might vary. For example, a strategy to double sales and a strategy focused on expanding profit are completely different. Even in the same industry, a strategy to restructure a struggling business will have a very different approach from a strategy designed to expand a steadily growing business.
Different goals will not only require different strategies, but also different choices and directions when you lay out the options. This is why it's important to make sure everyone is on the same page by sharing the result of the situation analysis, the company's vision, and the purpose of the strategy building.
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