ST.13 Do an individual/group review of the business strategy proposal

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OVERVIEW

The aim of this activity is to review the business strategy that has been developed through the preceding activities.

INPUT

New company vision from the activity ST.8 Develop a vision for the company.

New strategic goals from the activity ST.9 Define the strategic goals.

New markets,products and selling points along with the evaluation information from the activity ST.12 Select which ideas for new markets, products and selling points to include in the strategy proposal.

OUTPUT

New business strategy proposal used in the activity ST.14 Pitch the new business strategy to the CEO.

TEMPLATE

HOW TO GO ABOUT IT

1.

Decide if you will perform the review by yourself or with some of your colleagues in a workshop session.

2.

If you do involve some colleagues you should start by presenting some additional information to help your them understand how you have arrived at the strategy proposal, such as:

  • The SWOT analysis and the points that were given a high priority from this.
  • The ideas generated using the TOWS template.
  • The ‘original’ and ‘proposed’ versions of the Business Strategy template to highlight the changes that have been made to the strategy.

3.

Whether you perform the review with colleagues or not, key questions to ask include:

  • Are the goals and vision aligned and consistent?
  • Are the changes proposed to the markets, products and selling points consistent with the vision and goals?
  • Do the goals sound ambitious but achievable within the timescales proposed?
  • If you were the CEO of this company, what concerns would you have about this strategy?
  • If you were an employee at the company, what concerns would you have about this strategy?
  • What could be done to improve this strategy?

4.

After the review you may need to make small changes to the vision, goals, markets, products or selling points or even go back to some of the earlier activities if significant concerns are identified. Once you are happy with the overall business strategy proposal you can proceed to the next step, which is pitching the strategy proposal to the company.

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