2. What should the company’s future direction be and what are our performance targets?
3. What is our plan for running the company and achieving the targeted results?
o How to compete against rivals
o How to capitalize on growth opportunities and grow the business
o How best to respond to changing economic and market conditions
o How to manage the functional pieces of the business
o How to achieve the firm’s performance targets
o Avoid conflicting, inconsistent or uncoordinated strategic actions or decisions
o Strengthen the company’s competitive position
o Win a competitive edge over rivals
o Improve the company’s financial performance
o Appealing to buyers in ways that set a company apart from rivals-particularly when it comes to doing what rivals don’t do or can’t do
o Staking out a market position that is not crowded with other strong competitors
o Developing a distinctive ‘Aha!’ element to attract customers
o Copy-cat strategies seldom work
o Offering unique differentiating features to customers
o Focusing on a specific market niche of customers
o Developing specialized expertise and resources
o Current strategy elements that seem to be working well enough to be continued
o New proactive actions that managers believe have good potential for improving the strategy and boosting the firm’s performance
o As-needed strategic reactions developed in response to unanticipated developments and fresh market conditions
o Advancing technology
o Fresh moves of competitors
o Shifting buyer needs and preferences
o Emerging market opportunities
Profit Proposition (how the firm will create and deliver customer value in a cost-efficient manner at a price that produces enough revenues to cover costs and earn a profit)
o Is this strategy resulting in better strategic performance?
2. The Goodness of Fit Test
o How well does the strategy fit the firm’s situation?
3. The Performance Test
o Is the strategy producing better financial performance?
Need essay sample on "Chapter One"? We will write a custom essay sample specifically for you for only $ 13.90/page