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Forming a strategic vision of where the company needs to head and what its future business make-up will be
Setting objectives to convert the strategic vision into specific strategic and financial performance outcomes for the company to achieve
Crafting a strategy to achieve the objectives and get the company where it wants to go
Developing a profitable business model
Implementing and executing the chosen strategy efficiently and effectively
Developing a proven business model
Deciding how much of the company’s resources to employ in the pursuit of sustainable competitive advantage
Setting objectives and using them as yardsticks for measuring the company’s performance and progress
Communicating the company’s values and code of conduct to all employees
Deciding on the company’s strategic intent
Developing a strategic vision, setting objectives, and crafting a strategy
Developing a proven business model, deciding on the company’s strategic intent, and crafting a strategy
Setting objectives, crafting a strategy, implementing and executing the chosen strategy, and deciding how much of the company’s resources to employ in the pursuit of sustainable competitive advantage
Coming up with a statement of the company’s mission and purpose, setting objectives, choosing what business approaches to employ, selecting a business model, and monitoring developments
Deciding on the company’s strategic intent, setting financial objectives, crafting a strategy, and choosing what business approaches and operating practices to employ
Is usually delegated to members of a company's board of directors so as not to infringe on the time of busy executives.
Includes establishing a company’s mission, developing a business model aimed at making the company an industry leader, and crafting a strategy to implement and execute the business model.
Embraces the tasks of developing a strategic vision, setting objectives, crafting a strategy, implementing and executing the strategy, and then monitoring developments and initiating corrective adjustments in light of experience, changing conditions, and new opportunities.
S principally concerned with sizing up an organization's internal and external situation, so as to be prepared for the challenge of developing a sound business model.
Is primarily the responsibility of top executives and the board of directors; very few managers below this level are involved.
Who we are and what we do.”
Why the company does certain things in trying to please its customers.
Management’s storyline of how it intends to make a profit with the chosen strategy.
A company’s directional path and future product-market-customer-technology focus.
What future actions the enterprise will likely undertake to outmaneuver rivals and achieve a sustainable competitive advantage.
S management’s story line for how it plans to implement and execute a profitable business model.
Sets forth what business the company is presently in and why it uses particular operating practices in trying to please customers.
Delineates management’s aspirations for the business, providing a panoramic view of “where we are going” and a convincing rationale for why this makes good business sense.
Defines “who we are and what we do.”
Spells out a company’s strategic intent, its strategic and financial objectives, and the business approaches and operating practices that will underpin its efforts to achieve sustainable competitive advantage.
Prescribing a strategic direction for the company to pursue and a rationale for why this strategic path makes good business sense.
Describing its business model and the kind of value that it is trying to deliver to customers.
Putting together a story line of why the business will be a moneymaker.
Describing "who we are and what we do."
Coming up with a long-term plan for outcompeting rivals and achieving a competitive advantage.
Concerns deciding what approach the company should take to implement and execute its business model.
Entails coming up with a fairly specific answer to "who are we, what do we do, and why are we here?"
Is chiefly concerned with addressing what a company needs to do to successfully outcompete rivals in the marketplace.
Involves deciding upon what strategic course a company should pursue in preparing for the future and why this directional path makes good business sense.
Entails coming up with a persuasive storyline of how the company intends to make money.
Providing a panoramic view of "where we are going"
Outlining how the company intends to implement and execute its business model
Pointing an organization in a particular direction and charting a strategic path for it to follow
Helping mold an organization's character and identity
Describing the company’s future product-market-customer-technology focus
Charts a strategic course for the organization (“where we are going”) and provides a rationale for why this directional path makes good sense.
Describes in fairly specific terms the organization’s strategic intent, strategic objectives, and strategy.
Spells out how the company will become a big moneymaker and boost shareholder value.
Addresses the critical issue of “why our business model needs to change and how we plan to change it.”
Spells out the organization’s strategic intent and the actions and moves that will be undertaken to achieve it.
Indicates what kind of business model the company is going to have in the future.
Constitutes their strategic vision for the company.
Signals what the firm's strategy will be.
Serves to define the company’s mission.
Indicates what the company’s long-term strategic plan is.
Clearly delineate how the company’s business model will be implemented and executed.
Clearly communicate management’s aspirations for the company to stakeholders and help steer the energies of company personnel in a common direction.
Set forth the firm's strategic objectives in clear and fairly precise terms.
Help create a “balanced scorecard” approach to objective-setting and not stretch the company’s resources too thin across different products, technologies, and geographic markets.
Indicate what kind of sustainable competitive advantage the company will try to create in the course of becoming the industry leader.
What it says about the company’s future strategic course—“the direction we are headed and what our future product-market-customer-technology focus will be.”
That it not stretch the company’s resources too thin across different products, technologies, and geographic markets.
Clarity and specificity about “who we are, what we do, and why we are here.”
That it be flexible and in the mainstream.
That it be within the realm of what the company can reasonably expect to achieve within 2-4 years.
Is the outlook for the company promising if it continues with its present product-market-technology-customer focus?
Are changing market and competitive conditions acting to enhance or weaken the company’s prospects?
What business approaches and operating practices should we consider in trying to implement and execute our business model?
What are our ambitions for the company—what industry standing do we want the company to have?
What, if any, new customer groups and/or geographic markets should the company get in position to serve?
Are changing market and competitive conditions acting to enhance or weaken the company’s business outlook?
Is the company stretching its resources too thinly by trying to compete in too many markets or segments, some of which are unprofitable?
Will our present business generate sufficient growth and profitability in the years ahead to please shareholders?
What emerging market opportunities should the company pursue and which ones should not be pursued?
Do we have a better business model than key rivals?
Balanced, responsible, and rational
Challenging, competitive, and “set in concrete”
Graphic, directional, and focused
Realistic, customer-focused, and market-driven
Achievable, profitable, and ethical
Directional (is forward-looking, describes the strategic course that management has charted and the kinds of product-market-customer-technology changes that will help the company prepare for the future)
Easy to communicate (is explainable in 10-15 minutes, can be reduced to a memorable slogan)
Graphic (paints a picture of the kind of company management is trying to create and the market position(s) the company is striving to stake out)
Consensus-driven (commits the company to a “mainstream” directional path that most all stakeholders will enthusiastically support)
Focused (is specific enough to provide guidance to managers in making decisions and allocating resources)
Vague or incomplete—short on specifics
Too narrow—doesn’t leave enough room for future growth
Bland or uninspiring
Not distinctive—could apply to most any company (or at least several others in the same industry)
Too reliant on superlatives (best, most successful, recognized leader, global or worldwide leader, first choice of customers)
Too specific, too inflexible, and can’t be achieved in 5 years
Unrealistic, unconventional, and un-businesslike
Too broad, vague or incomplete, bland/uninspiring, not distinctive, and too reliant on superlatives
Too broad, too narrow, and too risky
Not customer-driven, out-of-step with emerging technological trends, and too ambitious
"Who are we and what do we do?"
"What objectives and level of performance do we want to achieve?"
"Where are we going and what should our strategy be?"
"What approach should we take to achieve sustainable competitive advantage?"
"What business model should we employ to achieve our objectives and our vision?"