The strategy for the company lays the path to a desired future. The corporate strategy determines what the entire company should be in the future. Strategic management for the company sets the course for the future.

Strategic management: the question of identity today

Anyone who wants to develop or revise their corporate strategy should start with the present and ask themselves: “What are we today? What are we not today?” Dealing with one’s own identity and the real market positions and core competencies creates the basis for the starting point, the relevant influencing factors and the strategic analysis with the need for action to secure the future.

Once the situation has been identified, two areas determine the search for the right and best possible strategy: the customer needs of the future on the one hand, and the possibilities of creating new customer benefits thanks to new technologies on the other. These two drivers help to identify where the markets of the future are in terms of service offerings, target groups, regions/countries, sales channels and more.

Now creativity is required, because the next step in developing the corporate strategy is to find the core business and the new businesses for the future. Portfolio management is then the right method to assign the best possible strategy for the future to the individual businesses. Strategic management helps to form strategic priorities and differentiated strategy approaches for the individual businesses of the company.

Strategic Management: Our recommendations:

Learn how a corporate strategy is developed step by step, which strategic principles need to be taken into account, how a strategic analysis is carried out, how core business is optimized and new business opportunities are found and turned into innovation projects. Learn how to skillfully use the instruments of corporate strategy!

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Strategic Management: Growth Option

Strategic management distinguishes between two types of growth: must-growth and can-growth. Some companies or businesses have to grow because they are too small to survive in the long term at their current size. Other companies or businesses do not have a problem with size. They could stay as they are, without being forced to grow. If, on the other hand, the growth options seem attractive, they can afford to grow. An enormous difference in the strategic starting position!

Strategic Management: Option Innovation

Strategic management takes a completely different direction in industries and markets where stagnation and hyper-competition prevail. In order to counteract price competition with a permanent decline in profits, innovation is then required.

Strategic Management: Focus Option

On average, 33% of all activities of a company result in losses. There are often deals, types of orders, customers that result in long-term losses that cannot be recorded as a sensible investment in the future, but represent ‘money thrown out the window’. Consistent strategic management always seeks to focus on and reduce activities that are unlikely to be successful.

Strategic management: many more options

Anyone who starts reviewing their own strategy early on usually has a number of other options. These should be presented and evaluated. A good strategy then separates the wheat from the chaff and ensures that the one sensible and best strategy for securing the future is selected and implemented from the strategic management process. Whether it was really the best will only become clear a few years later. There is no secret recipe or mathematical formula for this, but there are well-known strategic principles that must be observed.