strategy and business models

Question 1

What is the strategic planning Process?

Answer 1

1. Establish Objectives, which is your vision and mission
2. Identify Potential strategies
3. evaluate your strategy using tools
4. Select a course of Action

Question 2

What are the tools you can use to evaluate your strategy

Answer 2

1. PESTEL environment analysis
   - political environment aspect
   -
2. Porters 5 Forces
3. SAF
4. SWOT

Question 3

What is a strategy?

Answer 3

It is how you are going to achieve your vision and mission

Question 4

what are some Generic strategies?

Answer 4

1. Cost Leadership - to be the lowest cost producer within an industry
2. Differentation - when you make a unqie dimension to your products and services so that they seem superior to your competitiors
3. Focus - when as a business you decide to focus on a particular segment of the market