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To be successful, your organization needs to set a clear, sound strategy. Strategy is how your organization chooses to deliver its products or services to meet your customers’ needs. It’s the unique way that your organization carries out its purpose and separates itself from the competition.
A good strategy consists of two major elements:
The value proposition—what makes your organization’s products or services distinctive so customers want to do business with you instead of your rivals
The value chain—the combination of organizational activities that makes your unique value proposition possible.
What you will learn in this topic:
- Develop components of a strategic plan within a business strategic
- Develop detailed action plans that support your organization’s strategy within a business strategic
- Manage the execution of strategic plans within a business strategic
- Evaluate and reward performance in executing action plans within a business strategic