It’s the process of developing strategy for a business by researching the business and the environment in which it operates. A strategic analysis will be referred to as a SWOT analysis: Strengths, Weaknesses, Opportunities, and Threats. Within these four areas, you will define your organization’s position relative to the competition and operational environments. While many believe it is best used at the organizational level, when properly implemented, a SWOT analysis will often return targeted, productive results at division or departmental levels of business. More about this step you can read here.
The scenario planning technique constitutes a useful and practical way to think about the enterprise as a whole and its interaction with the environment. It refers to the formulation of alternative possible futures for the firm and its environment as a means of exploring the utility of different strategies. The scenario represented a landmark shift in management perspective, from a deterministic view (‘‘we can control our destiny’’) to the view that the future is intrinsically unpredictable (‘‘we need to envision a range of different
possible futures and prepare for them’’). Its pioneering implementation is usually attributed to Herman Kahn’s cold war studies at the RAND Corporation and the Hudson Institute and to Pierre Wack, who was head planner of the Royal Dutch Shell business environment division in the early 1970s.
“Strategic thinkers see the right questions before they look for answers. Intuitive thinkers see answers before they even know the right question. Strategic thinkers see “what if” type questions before seeing potential solutions. In their brains, they mapped out a range of decision trees that intersect and connect by imagining how are events will play out in the future. They slow their brains down, taking the time to reﬂect and plan before acting, moving in a focused and efﬁcient way. Strategy is the logical part of marketing. On the other hand, intuitive thinkers see answers before even knowing the right question. Their brains move fast, using emotional instincts, gut feel and impulse. They want to move fast, get frustrated by any delays,” wrote Beloved Brands Inc.
In order for the brand to succeed the person/persons behind need need to have a clear vision about what that brand it should be like and where they want to be in the future.
Keeping up the focus
Always know where you want the brand to be and never loose focus on that. All the actions you and the team do for the brand must be coordinated and with a clear focus in mind. Don’t get sidetracked, keep your mind clear. Moreover, when you focus you will gain better ROI, better return on effort (ROE), a stronger reputation, a focused and better audience listening and perceiving your message,etc.
You must move fast
There is no time for hesitation or second guessing yourself. Once you started on that road you must start and continue the actions fast and decisive, in order to gain your special place on the market. Your unique selling point will come into action,but you cannot let it be the only factor.
From time to time take a look back and see what you did good and what you didn’t. Value your performance constantly in order to be sure you are on the right track. managers must monitor implementation. Good metrics are essential to this task. Some will be financial, both short-term and long-term. Some may simply reflect achievements in quality, efficiency, customer satisfaction, and the
other variables that reflect the overall progress of the firm towards its long-term objectives.
What’s most important is achieving high performance while balancing the needs of all the stakeholders.
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