Strategic plan, part 3: strategic evaluation
When evaluating potential business level strategies for an organization, it is important to consider various factors such as competition, customer demand, and the company’s current resources. These can be used to identify opportunities for growth or areas where improvement is needed. For example, if a company is facing stiff competition in its industry then they may need to develop a strong marketing strategy in order to remain competitive. Additionally, understanding customer needs through market research can help create new products or services that will meet those demands.
Finally, analyzing existing resources can provide insight into what capabilities the company already has and which ones need developing. This could involve investing in new technology or training staff members on specific skills related to their job functions. By taking these steps and implementing appropriate business level strategies, organizations are more likely to remain successful while also providing better service for customers.