Strategies & Goals
Session 12
J0704-Business Plan
Where you’re going and how
you’re going to get there
If you don’t know where
you’re going, you’ll end up
somewhere else – Yogi
Berra
J0704-Business Plan
The Elements of Strategies &
Goals
•Strategies and Goals Summary
•Long-range goals and strategies
•Strategy Implementation
J0704-Business Plan
Long-range Goals & Strategies
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To set long-range business goals, it’s
need to define the business strategies.
An array of the most popular strategies :
– Price driven strategies
– Product or services driven strategies:
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Quality
Creativity
Specialization
Proliferation
J0704-Business Plan
Long-range Goals & Strategies
– Customer service driven
strategies:
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Highest standard
Most personalized
Solutions
– Industry driven strategies:
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Industry leader
Innovator
Technological
J0704-Business Plan
Long-range Goals & Strategies
– Market driven strategies:
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Market leader
New market
Niche market
One-trend market
Customer focus
Relationship
– Marketing driven
strategies
– Sales driven strategies
J0704-Business Plan
Long-range Goals & Strategies
– Management driven strategies
– Operation driven strategies:
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Efficiency
One-function excellence
Most professional
Once you have considered your different
strategies and long-range goals, decide
on which one or two strategies will serve
your business with your market and
competition J0704-Business Plan
Strategy Implementation
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Analyze the methods you will use to
achieve goals and strategies.
Some methods for implementing
strategies to achieve long-range goals
are :
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Lower price
Narrow focus on:
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Current price or service
Distribution
Production
Marketing, advertising and sales
Engineering
Development J0704-Business Plan
Strategy Implementation
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Specialize
Personal service
Develop dynamic strategy to match a changing
market
Improve compensation for outside contractors and
employees
Develop market penetration
Diversity products or service
J0704-Business Plan
Strategy Implementation
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Expand distribution
Expand productivity
Add locations
Add or improve
technology
Increase profit
margin
Pay off debt
J0704-Business Plan