Are there any tried-and-tested methodologies for helping a company formulate business strategy?
…particularly where a company is completely unsure about what its future strategy should be. What would a strategic consultancy firm do this in such a situation?
Hi
This is a massive question to be asked here, and one on which I can only give a brief overview.
LONG TERM GOALS
Essentially any company would want to know your long term goals or requirements for the business – your exit strategy if you like. In other words how long do you expect to be running the company? how much do you want to make etc.
DIAGNOSTIC
Then when the direct is set a consultant will undertake a diagnostic, often using tools like SWOT and PESTLE or other commercial diagnostic tools ( http://www.rapidbi.com/bir/ ) – free version available – http://www.rapidbi.com/bir/bir-solo.html
This will help the owner of the company and the consultant understand the task that faces them.
STRATEGY
Then strategies will be identified and developed to help achieve these stated goals.
IMPLEMENTATION & MONITORING
The over the months and years the strategies need to be checked/ evaluated to make sure they are delivering and changed if necessary (and change will be required)
Hope this helps
Good luck.
In planning they say that you should put 80% into your planning and 20% into action. Many business owners spend less than 10% of their time working ON their business and 90% working IN their business – and wonder why their business is not doing as well as they expect
Good luck
Mike
Director – http://www.rapidbi.com
November 6th, 2009 at 11:38 pm
Hi
This is a massive question to be asked here, and one on which I can only give a brief overview.
LONG TERM GOALS
Essentially any company would want to know your long term goals or requirements for the business – your exit strategy if you like. In other words how long do you expect to be running the company? how much do you want to make etc.
DIAGNOSTIC
Then when the direct is set a consultant will undertake a diagnostic, often using tools like SWOT and PESTLE or other commercial diagnostic tools ( http://www.rapidbi.com/bir/ ) – free version available – http://www.rapidbi.com/bir/bir-solo.html
This will help the owner of the company and the consultant understand the task that faces them.
STRATEGY
Then strategies will be identified and developed to help achieve these stated goals.
IMPLEMENTATION & MONITORING
The over the months and years the strategies need to be checked/ evaluated to make sure they are delivering and changed if necessary (and change will be required)
Hope this helps
Good luck.
In planning they say that you should put 80% into your planning and 20% into action. Many business owners spend less than 10% of their time working ON their business and 90% working IN their business – and wonder why their business is not doing as well as they expect
Good luck
Mike
Director – http://www.rapidbi.com
References :
Relevant useful resources:
http://www.rapidbi.com/created/the-PESTLE-analysis-tool.html
http://www.rapidbi.com/created/SWOTanalysis.html
http://www.rapidbi.com/created/PRIMOF_business_growth_model.html
http://www.rapidbi.com/created/changemanagement.html