The growth strategy selection and current strategy defining


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Process of growth strategy selection includes following basic steps: Defining the current strategy. The analysis of production portfolio Setting strategy of organization development Assessment of the chosen strategy		Play Demo
Defining of current strategy is very important because it is impossible to make decisions concerning the future without understanding of current situation within organization and what strategy it is driven by. Various methods of current strategy defining can be used. One of the possible approaches means that there are five factors from both the external and the internal environment, which are necessary to asses in order to investigate the current strategy. These factors are: External factors: scope of business activity of the firm and degree of production variety, diversification of production; the general character and the nature of recent acquisitions of the organization and sales of a part of the property by it; structure and an orientation of company activity for the last period; opportunities on which it has been focused recently; vision and attitude to external threats; Internal factors: the company goals; criteria of resources allocation and the developed structure of capital investments in producing goods; the attitude to financial risks from side of company management, its real practice and carried out financial policy; level and degree of focusing on efforts in the field of research and development; strategy of separate functional spheres (marketing, manufacture, staffing, the finance, research and development); Defining current strategy and selection of new one is a complicated task which needs to be performed by various business specialists from different departments. This process requires collaboration of cross-department team and can be facilitated by proper groupware.
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