Both business strategy management theories and practices are crucial facets of the same coin, for leading an iterative business development continuum and improving strategy management success rate.
The strategy aims of diversification should be to create differentiated value, improve business unique competency, and develop long term business advantage.
It’s important to fully utilize existing resources and capabilities for achieving high performance: Organizations have limited resources; there are many elements of business capabilities that are foundational to enable foreseeable business strategy, Concentrated growth is the strategy of the firm that directs its resources and capabilities to the profitable growth of certain products or markets, The main rationale for such a market penetration or concentration strategy, is that the firm thoroughly develops and exploits its expertise in certain competitive arena to improve the success rate of strategy implementation.
However, in order to diversify and sustain differentiated business advantages, organizations should also grasp new opportunities, build or integrate their current capabilities into dynamic business competency. So good and diversified strategies will be the result of a collaboration that includes the relevant experiences of a diversified group of people bringing knowledge from multiple areas. It requires thinking deeply in the business purpose and making logical strategic decisions to maximize long-term multifaceted business value.
It’s important to craft an agile strategy - grow business in the emerging area, and escape from undesirable or unattractive industry environments: Uncertainty is only certain and it’s the best opportunity in business or any field to explore the "art of possibility.” A good strategic plan can identify the external factors with necessary adjustment on the way to fit the emerging situation. There is something that is most important in strategy formulation, such as knowing your company, knowing your competition, and knowing your customer, to a higher level of knowledge fluency. If you know these things well, you'll be more insightful to build a good strategy by predicting emerging trends, exploring new ways to grow their business, while making adjustments to current business capacities and conditions.
If you talk to your customers or varying stakeholders, it's pretty easy to glean what they are looking for in your products or services. It is then that decides how you keep strategy relevant, adopt the process enabling a company to work around the externals and deal with the issues of uncertainty systematically. So a good diversified strategy can be crafted with a healthy feedback-feedforward cycle, and implemented to differentiate your organization from your competition. in order to remain sustainable, enforce organizational growth and balance cycles accordingly.
Interweave the business investment “golden thread” that can link the business strategy to achieve strategic goals and reap business benefit: Strategic management enhances and protects the company’s interests, be that economical or reputational etc, and defines the way a company wants to expand or where it would really like to focus. The logical investment scenario based on the strategic direction of the business helps to assess whether the new business model or initiative is the right investment to be done in the first place. It’s about spending the money right, and getting the right results. Ask “why, what, how” to clarify sequence & consequence; identify “who when, where” to ensure on-time, on-value return on investment.
The investment justification needs to ensure that the organization spends the money wisely, help the business open up new channels of revenue and monetization within the enterprise and their ecosystem, to diversify their business initiative portfolio, develop differentiated business capabilities, and build high-level organizational capacity to achieve high performance business results. So understanding the satisfaction of stakeholders is what allows the measurement of multidimensional values investment for keeping business on the right track of strategy management.
Transitional times often call for transformation. A strategy is a planned direction to act, but can be radically changed as demanded by the emerging trends and experience of execution. In many companies, although the strategy looks shiny or pretty, there’s no sufficient information and solid action to achieve it. In organizations that get stuck at the low level of maturity, their business environment is often fraught with irrational decision-making and incoherent actions. So both business strategy management theories and practices are crucial facets of the same coin, for leading an iterative business development continuum and improving strategy management success rate.
It’s important to fully utilize existing resources and capabilities for achieving high performance: Organizations have limited resources; there are many elements of business capabilities that are foundational to enable foreseeable business strategy, Concentrated growth is the strategy of the firm that directs its resources and capabilities to the profitable growth of certain products or markets, The main rationale for such a market penetration or concentration strategy, is that the firm thoroughly develops and exploits its expertise in certain competitive arena to improve the success rate of strategy implementation.
However, in order to diversify and sustain differentiated business advantages, organizations should also grasp new opportunities, build or integrate their current capabilities into dynamic business competency. So good and diversified strategies will be the result of a collaboration that includes the relevant experiences of a diversified group of people bringing knowledge from multiple areas. It requires thinking deeply in the business purpose and making logical strategic decisions to maximize long-term multifaceted business value.
It’s important to craft an agile strategy - grow business in the emerging area, and escape from undesirable or unattractive industry environments: Uncertainty is only certain and it’s the best opportunity in business or any field to explore the "art of possibility.” A good strategic plan can identify the external factors with necessary adjustment on the way to fit the emerging situation. There is something that is most important in strategy formulation, such as knowing your company, knowing your competition, and knowing your customer, to a higher level of knowledge fluency. If you know these things well, you'll be more insightful to build a good strategy by predicting emerging trends, exploring new ways to grow their business, while making adjustments to current business capacities and conditions.
If you talk to your customers or varying stakeholders, it's pretty easy to glean what they are looking for in your products or services. It is then that decides how you keep strategy relevant, adopt the process enabling a company to work around the externals and deal with the issues of uncertainty systematically. So a good diversified strategy can be crafted with a healthy feedback-feedforward cycle, and implemented to differentiate your organization from your competition. in order to remain sustainable, enforce organizational growth and balance cycles accordingly.
The investment justification needs to ensure that the organization spends the money wisely, help the business open up new channels of revenue and monetization within the enterprise and their ecosystem, to diversify their business initiative portfolio, develop differentiated business capabilities, and build high-level organizational capacity to achieve high performance business results. So understanding the satisfaction of stakeholders is what allows the measurement of multidimensional values investment for keeping business on the right track of strategy management.
Transitional times often call for transformation. A strategy is a planned direction to act, but can be radically changed as demanded by the emerging trends and experience of execution. In many companies, although the strategy looks shiny or pretty, there’s no sufficient information and solid action to achieve it. In organizations that get stuck at the low level of maturity, their business environment is often fraught with irrational decision-making and incoherent actions. So both business strategy management theories and practices are crucial facets of the same coin, for leading an iterative business development continuum and improving strategy management success rate.
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