Choosing the Best Strategy
Earn 1 CPD Point with this Resource
What is a strategy? How do you create a strategy? How do you choose the best strategy?
Choosing the best strategy involves thorough research and the use of different strategic thinking and planning tools to create a number of choices from which you can select the best strategy. Managers who are involved in strategy development for their organisation must be able to answer the above questions and this resource is designed to help them do just that. Using this resource you will be able to use a variety of methods to carry out external research to identify key trends in the wider environment and in your organisation’s specific market-place.
Based on your research you will be able to apply the five key elements of strategy to your organisation. These are:
- In which Market Sectors/Segments are you going to be Active?
- What will Differentiate you?
- What will be your Growth Model?
- What will be your Economic Model?
- What will be your Speed of Growth?
As a result you will be able to devise a number of Strategic Choices. You will then be able to use a matrix to evaluate each choice and select the best one. To maintain your Personal Development in this area you will be able to use a simple but effective planning template.
- Acquiring the key knowledge and skills required for strategic thinking and planning.
- Being able to participate with confidence in strategy discussions in your organisation.
- Contributing with real insight into the creation of strategic plans.
- Making the right strategic choices.
- Enhancing your promotion prospects as a result of your skills in this area.