FT Essential Guide to Developing a Business Strategy: How to Use Strategic Planning to Start Up or Grow Your Business (The FT Guides)
By: Vaughan Evans (author)Paperback
Want to take your company to the next level? You need a roadmap, a strategy. Preferably one that is simple, workable and saleable. This book provides you with just that. It sets out a straightforward strategy development process, the 'Strategy Pyramid', and guides you through it. It uses a lively central case study throughout, as well as drawing on examples of how real businesses have developed winning strategies. Whether you are intent on growing your business, or setting out on your start-up, this book offers an uncomplicated, practical and readable guide on how to get the strategy you need for your business to succeed. It offers sound advice on the following areas: Setting goals and objectives Forecasting market demands Gauging industry competition Tracking competitive advantage Targeting the strategic gap Bridging the gap with business strategy Bridging the gap with corporate strategy Addressing risk and opportunityThe FT Essential Guide to Developing a Business Strategy will help businesses of all sizes to chart and realise their growth ambitions.
Vaughan Evans is an independent strategy consultant (www.managingstrategicrisk.com) with a background in industry economics. He worked at management and technology consultants Arthur D. Little and at investment bank Bankers Trust. Vaughan graduated from Cambridge and has a Sloan Fellowship with distinction from London Business School. He is the author of four previous books, including the best-selling Financial Times Essential Guide to Writing a Business Plan.
IntroductionWhy strategy?What is strategy?What is the output?What is the outcome?What is a strategic plan?What is strategic planning?The Strategy PyramidBusiness vs corporate strategy Part One: Strategy Development 1. Knowing Your Business Identifying key segments Essential example: Apple's saviour segmentsSegmentation in a start-up Essential case study: Extramural Ltd - the business 2. Setting Goals and Objectives Setting long-term goalsEssential example: Life at MarsSetting SMART objectives Essential case study: Extramural Ltd - goals and objectives 3. Forecasting Market Demand Sizing the marketForecasting market demand Essential tool: Moving averages Essential example: No wrap for the cinemaForecasting demand for a start-upMarket demand risks and opportunities Essential case study: Extramural Ltd - market demand 4. Gauging Industry Competition Assessing competitive intensityAssigning customer purchasing criteria Deriving key success factorsEssential tool: Economies of scaleEssential example: Jessops is shutteredGauging competition in a start-upIndustry competition risks and opportunities Essential case study: Extramural Ltd - industry competition 5. Tracking Competitive AdvantageRating competitive position Essential tool: Product/market riskReviewing resources and capabilities Essential tool: The value chainEssential example: The everlasting MonsoonCreating competitive advantage in a start-up Essential example: Of diet, dance and detectivesEssential case study: Extramural Ltd - competitive advantage 6. Targeting the Strategic GapTargeting the portfolio gapTargeting the capability gapProfiling the ideal playerSpecifying the target gapEssential example: Could Liverpool FC be champions again?Targeting the gap in a start-up Essential case study: Extramural Ltd - strategic gap 7. Bridging the Gap: Business Strategy Opting for a generic strategyEssential tool: The experience curveStrategic repositioning and shaping profit growth optionsEssential tool: Uncontested market spaceMaking the strategic investment decision Essential example: Sainsbury's fights backBridging the gap for a start-upBusiness strategic risks and opportunities Essential case study: Extramural Ltd - business strategy 8. Bridging the Gap: Corporate StrategyOptimising the corporate portfolioEssential tool: The growth/share matrixCreating value from mergers, acquisitions and alliancesEssential tool: Parenting valueBuilding strategically valuable resourcesEssential tool: Core competences Essential example: UU U-turnCorporate strategic risks and opportunities Essential case study: Extramural Ltd - corporate strategy 9. Addressing Risk and OpportunityReviewing plan in a market contextAppraising opportunity versus riskEssential tool: Expected value and sensitivity analysisEssential example: Britney does it again Essential case study: Extramural Ltd - risk and opportunity Part Two: Strategic Planning 10. The Strategic Plan Strategy + Business Plan = Strategic Plan Contents of a strategic planReviewing the plan 11. The Strategic Planning ProcessStrategic planning in a multi-business corporationEssential tool: Deliberate vs emergent strategyStrategic planning in a small or medium-sized enterpriseStrategic planning for a start-up Conclusion AppendixStructured interviewing Further Reading Glossary Index
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