Develop a Comprehensive Strategy for the Business

Address each of the four strategic issue areas (i.e. Segments, Products and Services, Pricing and Costs) to create a complete strategy to improve the market share and profitability of the business.

What steps should I take?


Step 1. Watch the Overview Series Videos

There are four strategic issue areas. Three videos make up the Overview series in each strategic issue area. These videos describe how to look at segments, products and services, pricing and costs in your market, what to expect as your market matures and what to do about these developments. These twelve videos are an excellent introduction and provide much needed context for your decisions. Each of these videos will take about twenty minutes to view.

(You will also find a link to these videos under Tools/Videos/Introduction on the navigation bar.)


Step 2. Answer the Questions in Board of Directors

If you would like to understand your market in more depth, begin by reviewing the ten strategic questions in the
Board of Directors section of StrategyStreet. Review each of these questions to determine whether you can answer them to your satisfaction. If you would like to pursue these questions in more detail, go to Step 3.

If you feel you have a good understanding of your market and simply wish to develop new ideas, skip to Step 4.

(You will also find a link to Board of Directors questions on the navigation bar.)


Step 3. Complete Steps 1 to 30 in the Basic Strategy Guide

Each of these steps in the
Basic Strategy Guide helps you understand your market, and the company's situation in the market, in more detail. Each step outlines a specific analysis for you to do. It shows you what the completed analysis looks like, and tells you how to do it. The step explains why the analysis is important, advises you on what to expect to see, and then recommends an action or decision you might take at the completion of the step.

You may find that you need more information than these steps provide. If so, at the bottom of each step you will find a link entitled "More Information," click on this link to go to the Advanced Site of StrategyStreet, where we discuss the concepts in the greatest detail.


Step 4. Develop New Tactics for Your Strategy

If you are satisfied with your understanding of your market, your competition and your company's position, you are ready to develop new tactics to improve your market share and profits. We have organized several thousand ideas, drawn from the initiatives of management teams in several hundred industries, to serve as brainstorming thought starters for you. These brainstorming ideas appear in the Improve section of StrategyStreet.

We suggest that you develop your new tactics by using the ideas in Improve/Segments, Improve/Products and Services, Improve/Pricing, and Improve/Costs in sequence as outlined in the Basic Strategy Guide. In particular, see Basic Strategy Guide's Step 12, Step 17, Step 22, and Step 30.

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