Exploring a company's capabilities helps identify the most promising areas for growth. This stage often helps identify new segments of potential consumers, expand distribution channels, and find new production technologies that can help create competitive advantages.
An important point: they are provided only by those development opportunities that are not yet used by competitors. Banal copying of the actions and tactics of other companies in most cases will lead to increased and tougher competition, and not to an increase in sales and the acquisition of new clients by the company.
Development of forecasts on the possible development of the enterprise in future periods
Analysis of the organization's rcs database potential to strengthen its market position is based on an assessment of its potential and available resources. In order to keep up with competing firms, it is not enough to simply maintain the enterprise's profitability at the industry average. It is important to constantly invest in improving and updating the company's existing production assets.
Development of forecasts on the possible development of the enterprise in future periods
Different business areas require different volumes and frequency of investment in their development. Therefore, in order to form a competent competitive strategy, it is important to clearly define and work out the following data:
detailed volume of required investments, specified by time periods;
sources of financing (equity capital of the enterprise, borrowed funds or financial resources from attracted investors).
This stage allows you to identify the company's existing financial limitations for growth and expansion.
The final choice of the organization's management strategy
The long-term policy is selected on the basis of the six previous stages of its formation, taking into account the identified threats, limitations, and opportunities for business development.
The main objectives of developing a management strategy are:
identify areas for growth and expansion of the company over the long term (over three years);
identify those areas of development of the organization that it will not implement in the long term;
to coordinate all levels of the developed strategy to maximize the achievability of all goals and objectives set within its framework;
to form and implement a system of measures and activities to ensure a competitive advantage of the company's goods and services in the sales market;
make forecasts for achieving results due to the implementation of the chosen management strategy of the organization in the long term, as well as identify the need for additional investments and determine their required volume.
The organization's work on the developed management strategy begins after its documentary approval. The order of its development is influenced by the scale of the company's activities and the reserves it has, as well as the level of radicalism of potential changes after the start of the implementation of the approved policy.
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