To perform a successful analysis, and design new business strategies, you must follow five important steps that will allow you to choose and explore the best possibilities for your business. 1. Establish goals for the company: first of all, the directors of the company must specify the objectives of the company, one way is to frame them within the market context of the market where the company intends to serve. Goals should be simple and achievable, is to choose something very desirable objective to maximize the total business value for its owners and shareholders. 2.
Perform external and internal analysis: analysis involves evaluating external current and future customers, suppliers, partners and competitors. If you are not convinced, visit Robert Kiyosaki. It should ask: “What kind of customers I have right now?” “What kind of clients I have in the future?”. The external analysis should always start with business clients. The internal analysis involves the study of the structure, performance, business skills and incentives. The purpose of internal analysis is support the decision making process to determine: 1 if the business objectives and strategies are feasible and 2, if the administrative and organizational design must be modified to fit the company strategy. 3.
Develop a competitive advantage: there are three main sources of competitive advantage a business can look for: cost advantage, differentiation advantage and benefit of the transaction. Develop a differentiation goes hand in hand with the marketing strategies of the company. Although many people do not take into account, the cost advantage can to tear down the competition. 4. Choosing a competitive strategy: refers to the actions of the company that best respond to the actions observed or expected competition, “the company must move before or after your competition?” “Prices”, everything must be analyzed in order to achieve the objectives set out above, 5. Designing an organizational structure: managers must choose the organizational form that can best implement the strategy of the company. The study of these 5 points you can design strategies that are tailored to your requirements and your business. Do not forget that running a business requires patience and research, there are always new methods and models to use. Good luck in everything!