The Strategic Planning Process
The Strategic Planning Process
Although specific steps in the formulation of a strategy may vary, the process can be built, at least conceptually, around the key elements shown in Figure 5-1 and elaborated in the following.
1. Inputs to the Organization
The various organizational inputs, including the goal inputs of the claimants, were discussed in Chapter 1 and need no elaboration,
2. Industry Analysis
As will he pointed out later in this chapter, Michael Porter suggests that the formulation of a strategy requires the evaluation of the attractiveness of an industry by analyzing the external environment. The focus should be on the kind of competition within an industry, the possibility of new firms entering the market, the availability of substitute products or services, and the bargaining positions of the suppliers as well as the buyers or customers,
3. Enterprise Profile
The enterprise profile is usually the starting point for determining where the company is......
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