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Competitive Analysis and Strategy - Coggle Diagram
Competitive Analysis and Strategy
Strategy Management
Is a method by which managers conceive of
and implement a strategy that can lead to a sustainable competitive advantage.
Models of the Strategic Management Process
There are 3 well-know models presented by recognized scholars in the strategic management field.
Stages
Strategy Formulation.
Strategy Implementation.
Strategy Evaluation
Steps
Develop vision and mission
External environment analysis
Internal environment analysis
Establish long-term objectives
Generate, evaluate and choose strategies
Implement strategies
Measure and evaluate performance.
The AFI (Analysis, Formulation/implementation) Strategy Framework
Stages
Analysis
Formulation
Implementation.
Steps
Initial analysis
External and internal analysis
Business or corporate strategy formulation
Implementation.
Strategy Management Framework
Stages
Where are we?
Where are we going?
How are we getting there?
How are we doing?
Steps
Situation appraisal: review of corporate objectives
Situation assessment
Clarification of objectives
Corporate and competitive strategies
Strategic decisions
Implementation
Monitor progress
Strategy Planning Process
Is a systematic or emerged way of performing strategic planning in the organization through initial assessment, thorough analysis, strategy formulation, its implementation and evaluation
Defining the levels of strategic intent of the business:
Establishing vision.
Designing mission
Setting objectives.
Formulation of strategy:
Performing environmental and organizational appraisal
Considering strategies
Carrying out strategic analysis
Making strategies
Preparing strategic plan.
Implementation of strategy:
Putting strategies into practice.
Developing structures and systems
Managing behavioural and functional implementation.
Strategic Evaluation and Control:
Performing evaluation
Exercising control
Recreating strategies.
Components of Strategic Planning Process
There are many components of the process which are spread throughout strategic planning stages.
Initial Assessment.
Situation Analysis
Strategy Formulation
Strategy Implementation
Strategy Monitoring.