What Is Strategy?
I recently met with a very successful business owner who informed me that his growth strategy was to collect referrals from pleased clients and centres of influence. While this is an excellent method or tactic for corporate growth, it is not a strategy. We describe strategy as the coordination of three elements: The outcomes or goals you wish to attain. The capabilities and resources you have at your disposal to achieve your goals. The environment's potential and difficulties. It is critical to address each of these factors as you design your business plan. Your business plan is the expression of your strategy. The business planning methodology we utilise is intended to handle each of the three critical parts of strategic planning. Your business strategy is made up of four interconnected components. A. Planning - This section of the business plan begins with a description of your Business Definition: Vision, Mission, Values, and Business Oppor...