Strategy Development looks into the future, determines which possible directions the business could go, and decides on a specific option. Established businesses benefit most of these exercises because they have several years of financial, marketing and other business data ; most importantly, they have teams of experienced staff who can work together, to identify limitations and opportunities.
This choice involves a trade-off against other possibilities and involves opportunity costs, a conscious decision not to compete for certain types of business but to focus on the areas which yield the best result. Various measures will be used to determine the best direction, including financial numbers, staff considerations, skills issues, regulatory concerns and a range of other factors.
Several conceptual tools and models are available, for shaping the information in a manner which the business can understand and manage. ExecuThink is pleased to assist all organizations, including NGO’s, industry associations and business groups with their strategic planning.