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Developing a Business Strategy (2. Strategic Planning and Management…

- - - - fit internal and external environment: identify and respond quickly and to change in these environment
      - create sustainable competitive advantage: not easily imitated, etc
      - result in measurable performance improvements: increase in revenue, market share, etc
    - - leaders are disciplined in pursuing the chosen strategy: strategic plans convert into actions; resources provided; etc.
      - all organization members communicate at an appropriate level of detail:
        clear "line of sight" btw performance objectives and business's strategic goals and objectives
      - strategies at all levels of the organization are aligned
      - managers are trained to think in terms of results and to measure outcomes against objectives
- - - - financial performance
      - customer satisfaction
      - internal business processes
      - learning and growth
  - - - corporate strategy
        
        plan to improve competitiveness of the organization as whole
        involve: where the organization will compete; in which industry or markets; etc.
      - business strategies
        
        plan to improve competitiveness of individual line of business
        involve: each single line of business develops a business strategy
      - function area strategies
        
        plan to implement and support corporate and business strategy at functional level
        (function vary by business types)
      - operating strategies
        
        plan how the function will perform its work
        involve: capacity, supply network, process technology, organizational improvement, etc