STRATEGY: Strategy checklist (printable)
These are some mixed yet fundamental questions that can help you start the process:
1. Assess the overall market by these areas:
a) How strong are the suppliers?
b) How strong are the customers?
c) How difficult is it to become a player in the market (how high are the barriers of entry)?
d) Are you competing with any products/services that can be substituted with yours?
- answers to these questions will tell you something about the competetive environment. You may also assess the political/legal environment
2. Make a SWOT analysis, i.e. assess your STRENGHTS, WEAKNESSES, OPPORTUNITIES AND THREATS.
3. Ask youself this: WHAT ARE MY CURRENT RESOURCES? HOW CAN I USE THEM? or Where Do I Want to Go? What are my ressources? What additional ressources do I need to reach my goal?
4. Take a "Resourced Based View". Analyse each element of your industry's value chain, i.e. incoming logistics, value-adding and outgoing logistics/distribution etc.
5. Decide your competitive advantage and the fundamental question: Do you want to compete on PRICE or BEING DIFFERENT.
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