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What makes a good business strategy?

AriaaAriaa subscriber Posts: 4 Member

What are the steps to be followed to build a good business strategy?


  • AishleyAishley subscriber Posts: 27 Bronze Level Member

    Here are some steps to create a good business strategy-

    • Gather the facts.
    • Develop a vision statement.
    • Develop a mission statement.
    • Identify strategic objectives.
    • Tactical Plans.
    • Performance Management.

  • Jessie HookieJessie Hookie subscriber Posts: 351 Silver Level Member
    1. Build on the vision
    2. Focus on the most critical objectives
    3. Plan the attack, choose the battlefield
    4. Take a reality check: Does the business model stand?
    5. Build a support structure: The strategic framework
  • Michael lyamMichael lyam subscriber Posts: 7 Member

    These are the some great steps that will help build a good business strategy

    1. Define competitive advantage 
    2. Targets should be streamlined
    3. Develop a vision
    4. Be inclusive and nimble 
    5. Invest time in measuring results

    If you’re starting a new business, ensure you have the road-map well prepared beforehand. 

  • Aditi RaoAditi Rao subscriber Posts: 27 Bronze Level Member

    Starting a business is a challenging thing. You need to remember some points while making a perfect business strategy.

    • have a passion to drive a successful business.
    • Determine what you need to start.
    • To get more involved research more about your competitors.
    • Identify how much are you going to spend for your business.
    • Measure the success time to time.

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