What is the strategy of your company? Is that a formula or a process to follow?
When we heard how "good" the strategy a company has and makes it successful or how "bad" and make it fail. People wonder if there is a "defined" way to plan and review their strategy planning. Luckily, there is a formula here. Starting with the corp vision/mission, analysis thru SWOT then thru functional, business, global and corporate level strategy. A refined strategy can be defined.
Walmat's vision is to provide goods with the lowest price every day and that is their vision/mission, with such vision/mission. Sam Walton did everything to keep the lowest price everyday happening. By locating the best possible store location, the most efficient inventory system, the best buying power, and the best possible employer-employee relationship. Walmat is running strongly and profitable no matter economy is good or bad.
Level 3 communication's founder, Jim Crowe, believes fiber-optic network would be needed everywhere and Internet traffic will boom 10 times a year. With such vision and analysis, L3 was built. However, he made some incorrect forecast. Internet traffic boom like double a year instead of 10 times a year and there were lots of competition entering the same market. Put together both, L3 was almost gone. Lessons we learned from it is 1. vision is still important 2. but a reasonable forecast and analysis is more important.
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