On company strategies



Keywords: business strategies, business strategy, strategic management, free business e-coach at 1000ventures.com, cross-fucntional management, ten3 business e-coach for high-growth firms, the 8th wonder of the world
Description: BUSINESS STRATEGIES (Your free Business e-Coach): Strategic cross-functional management is central to capitalizing on functional excellence, and in order for functional specialists to make the greatest possible contribution, they must take a broader view of their functions and understand how they fit into the web of the organizational processes and, ultimately, into the overall business strategy.

what are the company's business risks and external factors that need to be kept under review for indications that a change in strategy or plan may be required.

Strategizing is much more than just visioning, forecasting and planning. In the new rapidly changing economy . all substantive issues of strategy have been redefined as issues of implementation . Today, strategizing is concerned with the match between the internal capabilities of the company and its external environment. "The modern subject of business strategy is a set of analytic techniques for understanding better, and so influencing, a company's position in its actual and potential marketplace". 4

As strategy today is a subject of application, rather than a discipline, the obvious underpinning disciplines for strategy are economics and organizational sociology. You should employ them to define a structure in which the process of strategy formulation and its implementation are bound together.

"Most businesspeople are so busy working for their business or in their business that they never find time to work on their business. Thus they fail to anticipate what might happen or what they might be able to make happen." 9 Unless you regularly schedule time (one-day out-of-the-office meeting a month at least) to work on your business and answer critical questions. you'll never achieve your stretch goals.

Looking inward. s trategic analysis of the characteristic of your company to identify your distinctive capabilities and surround them with a collection of reproducible capabilities, or complementary assets, which enable your company to sell its distinctive capabilities in the market it operates.
  • Looking outward. strategic analysis of the industries and markets in which your company operates to identify those markets in which your company's capabilities can yield competitive advantage.

  • What are the origins and characteristics of the successful fit between capabilities and environment. Why do companies succeed?
  • To be successful today, your company must become competitor-oriented. You must pursue the right competitive strategy – avoid strengths of your competitors and look for weak points in their positions and then launch marketing attacks against those weak points. More






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