Name And Define The Different Strategies And The Decisions Process
From your reading and research, write a brief essay, 1 page, outlining the four types of strategies used for analyzing for strategic deliveries and where they fall in the decision process. Include the who, what, where, why, and when in your essay.
Strategy is a decision-making process. Include references where needed.
There are four types of strategies (each with several subtypes) that make up the strategy formulation process. Strategy is developed through:
- Directional strategies – mission, vision, values, and goals
- Adaptive strategies – expansion, contraction, and maintenance of scope
- Market entry strategies – purchase, cooperation, and development
- Competitive strategies – strategic posture and positioning strategies
Decisions concerning these strategies must be made sequentially, with each subsequent decision more specifically defining the activities of the organization. It is very important to emphasize that strategy formulation can be a logical process. Mission, vision, values, and goals are part of both situational analysis and strategy formulation. They are a part of situational analysis because they describe the current state of the organization and codify its basic beliefs and philosophy. However, mission, vision, values, and goals are also a part of strategy formulation because they set the boundaries and indicate the broadest direction for the organization.