Strategy development is a broad but integral part of any business, big or small, and as a result, there are a number of business practices geared towards this business area. To start with strategy development, you should determine your strategic barriers by defining where you want your company to be, how you can bring your business to the desired end state, and what your current state situation is. The progression from your current state to your desired future state is a matter of strategy development and execution of that strategy. Even though the ultimate desire of any corporate strategy is to maximize profitability, it involves a number of non-trivial pieces, including defining your companys value proposition, competitive advantages, and business transformation.
Bower emphasizes the strategic planning and budgeting process is in the focus of the strategy development process. Strategic intent is defined as the externally observed and communicated official strategy. Capital market context is also broken down, which includes demands and influence of sources of capital, such as investors. Organizational context is comprised of organizational governance and the organizational structure, basis of performance measures and rewards, and the managers core beliefs and cognitive mindset. Resource allocation based strategy planning and budgeting is a bottoms up approach to locating and picking of important business opportunities. In the RAP business framework, when we look at market context, we are evaluating the demands of the existing customers, as well as technology development. This framework is called the Resource Allocation Process RAP business framework.
In current thinking, there are a couple schools of thinking around strategic management. In organizational configuration, the organization engages in behaviors based on adaptation to contexts. Mintzberg also advocates a transformation of business processes, where management recognizes the need and has the ability to manage top-down business operational transformation. Henry Mintzberg opts for an organization, bottom-ups process to drive business strategy development that hinges upon organizational configuration.
Strategy development process has evolved through 5 key stages since the early 1900s. Shifts in strategic mindset represent a changing landscape, new business leaders, and emergence of disruptive technologies and changes. Today, the strategic development theme is on integrating strategic planning and execution with a stress on the key concepts of core competencies, strategy planning and execution, and balance scorecard analysis. Strategy development started with a focus on financial planning in the 1950s, moving to long-term corporate planning in the 1960s, to strategic planning in the 1970s and eventually to a focus on strategic management in the present day. A lot of competitive strategy is also hinged on ideas in the 1970s, where the focus of what business leaders devote their efforts to was around thinking strategically to out maneuver competition and the business frameworks of alternative strategies, portfolio analysis, and the BCG Growth Share Matrix were developed.
The strategic thinking of modern business organizations has been shaped by military strategists since the beginning of organized warfare. Sun Tzus thoughts about the factor of terrain, in todays business landscape, translates to markets, industry structures, value propositions, and Porters Five Forces. Sun Tzu hinted at indirect strategies when he said winning without fighting is the highest of skill on the battlefield. Sun Tzu wrote the Art of War, which has been adopted into a business strategy book. In Sun Tzus Art of War, he wrote about five fundamental factors in military strategy and each of these factors can be directly translated to terms of business strategy.
LearnPPT.com is an invaluable website for understanding and improving your strategy development fundamentals. It contains a wealth of business presentations explaining different forms of business strategy frameworks and concepts. Their corporate strategy and presentation materials are used around the world in over 50 countries in global Fortune 100 companies. Within its increasing collection, there is a strong emphasis on strategy development, strategic planning, and related interests. LearnPPT states that all products have been developed by strategy and management consultants from established consulting firms, like McKinsey and Bain. There are numerous business documents covering supporting business units, such as change management, cost management, as well as workshop planning.
Strategy Development Presentation
Source: http://gettingfat.net/58582/bcg-market-research-report-strategy-development-with-value-innovation/
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