Strategy development is a core task when it comes to handling and aligning the management of any organization. How do you develop a strategy? Developing a strategy means finding the best way from the “current situation” to realizing a company’s strategic goals. This article explains which aspects have to be considered when developing a strategy.
If you want to develop a strategy for your company or organization, you need a few standard ingredients:
For more efficiency, strategy management consultancy is recommended by professionals. Different approaches are required depending on the initial situation and objective where these consultants are mastered and deal with it on a daily basis. The smaller and the more “practiced” the organization, the “shorter and crisper” strategy processes can be.
We, therefore, have very different strategy formats on offer, such as:
In the following, we will give you an overview of some very well-proven models for strategy development and at the same time give you tips on the concrete implementation of strategies. And if you would like to know more precisely how to develop a strategy in a company, we will give you a very specific tip and corresponding links at the end.
The STEP analysis is suitable for diagnosing the environment of an organization. This model helps to analyze the environment of an organization for trends that could have a lasting impact on the core business of an organization. The STEP analysis includes the mentioned-below dimensions into consideration:
In its entirety, this model of strategy development considers both external and internal perspectives and resources. The challenge here is to include both sides equally. This perspective is also known as a holistic strategy.