Strategy development is an expansive but important process of any ambitious company, enterprise or small, and therefore, there are various business frameworks geared towards this strategic area. To begin with business strategy development, you must frame your strategic barriers by defining where you want your company to be, how you can get your business there, and what your current state situation is. The progression from your current state to your desired future state is a matter of strategy development and strategy execution. Even though the ultimate desire of any business strategy is winning, it involves a number of non-trivial pieces, including defining your companys value proposition, competitive strengths, and resource allocation.
Joseph Bower believes that the strategic planning and budgeting processes are in the focus of the strategy development process. Strategic intent is defined as the observable and communicated primary strategy. Capital market context is also broken down, which is defined as demands and influence of providers, including PE firms. Organizational context is comprised of organizational governance and the org structure, basis of performance measures and rewards, and managements beliefs and strategic mindset. Resource allocation based strategy planning and budgeting is a bottoms up approach to finding and picking of important business priorities. Within the RAP business framework, when we look at market context, we are analyzing the demands of those customers that make up the major sources of revenue,and technology development. This framework is called the Resource Allocation Process RAP business framework.
In current thinking, there are a couple schools of thinking around strategic management. In organizational configuration, the organization takes on behaviors based on adaptation to business surroundings. Mintzberg also advocates a transformation of business processes, where management recognizes the need and has the ability to conduct organizational business operational optimization. Henry Mintzberg opts for an organization, bottom-ups strategy to drive business strategy development that hinges upon organizational configuration.
Strategy development process has evolved through 5 key phases since the early 1900s. Shifts in strategic mindset represent an ever evolving, emerging thought leaders, and emergence of disruptive technologies and changes. In the current day, the strategic development theme is on integrating strategic planning and implementation with a stress on the primary notions of core competencies, strategy planning and execution, and balance scorecard analysis. Strategy development started with a focus on financial planning in the 1950s, moving to long-term business planning in the 1960s, to strategic planning in the 1970s and ultimately to a focus on strategic management in the present day. A lot of growth strategy is also hinged on ideas in the 1970s, where the focus was around thinking strategically to out maneuver competition and the business frameworks of alternative strategies, portfolio analysis, and the BCG Growth Share Matrix were developed.
The way business leaders evaluate and analyze strategy within that of modern business organizations has been shaped by military strategists since 400BC when Sun Tzu wrote the Art of War. Sun Tzus thoughts about the factor of terrain, in todays business landscape, translates to markets, industry structures, market positions, and Porters Five Forces. Sun Tzu spoke about indirect corporate strategies when he said winning without fighting is the acme of skill on the battlefield. Sun Tzu wrote the Art of War, which has been adopted into a business strategy book. In Sun Tzus Art of War, he wrote about several fundamental factors in military strategy and each of these factors relates to a popular concept of business strategy.
LearnPPT.com is a great resource for learning and improving your strategy development knowledge. It contains a wealth of business strategy documents breaking down various business strategy frameworks and notions. Their strategy and presentation materials have been used across the wordl in over 50 countries in global Fortune 100 organizations. In its increasing collection, there is a strong focus on strategy development, the strategic planning process, and related topics. LearnPPT states that all products have been created by former strategy and management consultants from big name consultancies, such as McKinsey and Capgemini. There are numerous business documents covering secondary functional areas, such as governance, supply chain management, as well as workshop planning.
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