Week 5 strategic analysis | STR581 Strategic Planning & Implementation | University of Phoenix
Once any shortcomings have been identified, it is important to consider ways of improving them such as reducing unnecessary costs or refocusing resources in order to increase profitability etc.. Additionally, management could also investigate more efficient methods of production or explore new markets where there may be greater demand for the company’s products.
Finally, having a clear plan in place with measureable goals & objectives is also beneficial here – as this provides managers with benchmarks which they can use evaluate their progress along the way. In conclusion then, conducting a detailed analysis of one’s financial position combined with appropriate action plans are both key components needed when striving towards successful outcomes moving forwards.