Business Strategy

Business Strategy

Submitted by Administrator on Thu, 2006-07-06 13:58.

The best business strategies must steer a course between the inevitable internal pressure for business continuity and the demands of a rapidly changing world.

Andrew Grove, who led Intel to greatness, makes a clear distinction between strategic action and strategic plans. He believes that business strategy models should not: just be statements of intent; come across like a political speech; have concrete meaning only to management; concern themselves with events far in the future or have little relevance to today.

To formulate a basic business strategy, try this as a simple exercise: take a piece paper and at the bottom, write a brief account of where the business is now. Then at the top, write where you want the business to be in ‘x’ amount of years (you decide the period). Next, in between the two write what you need to do and when you to do it to get from the bottom of the page to the top. This exercise shouldn’t take more than an hour.

You can read more about different types of business strategy in the articles below.

The impact of the Internet business model

Peter Drucker: management lessons from the great seer

Management rewards and incentives: Why self-interest is not enough

Sales and marketing strategy: why better integration makes sense for business

Creative risk: don't be afraid to realise your organisation's potential through creativity

What does the auto industry bailout say about the strategy of the Big Three?

Management philosophy: Don't be stupid, keep your management philosophy simple

Corporate strategy: the pay pirates

Why The Second Great Crash was predictable ... and who is to blame

Strategy and tactics: death of the double cults

Objectives of management: mastering complexity

Incentive schemes: measures of management

Entrepreneurship and ideas

Change management theory: the time profile of change

Entrepreneurship: the golden age

Creativity in...