STRATEGIC PLAN - Major Steps, Formulating Strategies and Actions

This step in the strategic planning process requires the firm to develop the overall approach to successfully manage each of the identified critical issues. It also requires the firm to formulate the specific actions that will be carried out to implement each strategy. The action steps required are detailed with respect to the following:

  • specific strategy
  • time frame for action
  • individual responsible
  • resources required

Using this format, the firm can monitor the action steps and further refine them as it implements its strategic plan over time.



But..you also need market & industry data from here:
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Industry Intelligence  
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Competitive Analysis  
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Market Research

 


 

 

 

 

 

 

 

Having formulated the strategy, it needs to be tested as follows:

 

 



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