BusinessGrowthStrategies
To develop a rigorous business strategy, organizations must perform business strategy development beginning with a agreed upon understanding of its current situation and existing strategic barriers to growth blue ocean strategy. The next steps include forming what the desired vision of the company is and then going into the details of planning how to achieve that state. Proper strategy development involves more than a focus on maximizing profitability. Strategy is about value creation, strategy is about selectivity, and growth strategy is about flexibility. In order to understand your strategic challenges, you must begin with a comprehensive current state understanding of your situation.
After deciding on the primary blue ocean strategy, the next step is optimize your price point growth strategy. Pricing data may come from a variety of sources. With the found pricing data, your next step is to rationalize the data points. To better intuitively depict your pricing data, plot your price point, sales, and calculated profit against market share against a pricing curve. It is important to carefully document and be rational with any assumptions made. The blue ocean strategy initiative approach involves a three phase approach, starting with gathering pricing and related data points. Map out your blue ocean strategy data to show the relationships among price point, market share, and sales.
A great tool used in growth strategy is scenario planning blue ocean strategy. Scenario planning is used to help businesses plan for and make flexible long term organizational restructuring growth strategy plans. An critical activity in the growth strategy is choosing the primary axes of uncertainty within the context of a growth strategy. Oftentimes, the scenario planning process is performed in a remote workshop setting, whereby decision makers, executives, subject matter experts, and third party consultants, are gathered in a 2-4 day off-site conference to decide on numerous future state situations. Scenario planning is also called scenario thinking and scenario planning analysis.
It’s hard to argue that growth strategies is a creative process growth strategy. In the initial stages of the strategy development process, we must generate insights, which involve making sense of incomplete facts, seeing beyond the facts and generating creative conclusions. In coming up with a strategic response, the business often must solve emerging problems and connect unconnected dots. As management evaluates alternative strategic options, we must shape and adapt our conventional perspectives by innovating new ideas. If a simple spreadsheet would solve our problems in strategy development, then there would not be much opportunities for differentiating and winning in the market.
Citation: http://learnppt.com/powerpoint/15_Growth-Strategy-Toolkit.php
