Fundamentals of Business Strategy

Walk through the journey of building the business strategy

Shihab Rabee

Strategy & Digital Transformation Advisor

Strategic, Enterprise Architecture, Digital Transformation & Delivery advisor with 20+ years experience with Logistics, Trade Facilitation, Financial Services, IT, Telecom, Government and Digital service providers, Has played a relevant role in the launch of several Telco Transformations in Vodafone “EG”, Du “UAE”, and Jawwy-STC “KSA”. With solid experience in achievements and strategic projects with prestigious consultancy firms including but not limited to Kearney, PWC, Accenture, Management Partners, and Devoteam.

-The workshop aim is to help to understand the process and journey of Business Strategy Development

-The workshop is same concept as executive MBA, it helps you to understand :

-The concepts of Business strategy

-The process consultants follow to develop and refresh the Business strategy

-The questions Business strategy answers

-The governance of Business strategy

-The reporting of Business strategy

-Real-life Strategy Development / Refresh project is an extensive 3 to 6 months projects

This is a sample of the key strategic slides to use during practicing each of the strategy development steps

The Business strategy is defined as the overall plan of action that a business will take to reach its objectives and goals. It involves setting long-term goals, identifying opportunities and risks, and creating a plan of action to reach the desired objectives. Generally, a business strategy should involve all stakeholders in the organization, should be regularly reviewed and updated, and should take into account external environmental factors.

The main Generally, businesses need to develop a business strategy in order to ensure that they are on the right track and to ensure that they are taking the right steps to reach their desired goals. Businesses need to define the current status and objectives of the business, identify opportunities and risks, and then create a plan of action to reach the desired objectives. The strategy should involve a combination of both long-term and short-term goals, and should involve all stakeholders in the organization. Businesses should also ensure that the strategy is regularly reviewed and updated in order to keep up with the changing external environment.

The main difference between a business plan and a business strategy is that a business plan is focused on the current state of a business and its objectives, while a business strategy is focused on how to achieve those objectives. A business plan typically includes a description of the current state of a business, its goals and objectives, and detailed information on how those objectives can be achieved. A business strategy, on the other hand, is more focused on the steps and processes necessary to achieve those objectives. It includes a plan of action, outlining the steps that need to be taken, resources needed, and strategies for overcoming potential hurdles.

Strategy Journey 30 Steps

•A business idea is a concept or plan for a business venture. It can be a product, service, or process that a business seeks to develop, market, and sell.

•A business mandate is the authorization for a business to operate and carry out its activities. It usually sets forth the purpose and goals of the business and outlines the strategies and policies that will be used to achieve these goals.

A business vision is a vivid mental image of what you want your business to be at some point in the future, based on your goals and aspirations. It should be a realistic, achievable picture of what the company could be if all of its potential is realized. A business vision should be concise and clear, and should describe the desired future state of the organization. It should be detailed enough to provide direction and guidance for strategic planning, but also flexible enough to accommodate changing circumstances

Business strategy objectives are the plans and goals that an organization sets in order to achieve its vision. These objectives are typically set in the form of long-term goals that are specific and measurable, and can include anything from increasing profits to expanding into new markets. Business strategy objectives should be aligned with the overall mission and vision of the organization and be actionable and achievable. It is important for businesses to review and revise their strategy objectives on a regular basis in order to ensure that they remain relevant and achievable.

Opportunities and options of business strategy refer to the potential strategies and tactics that a business can use to achieve its goals. Opportunities include exploring new markets, launching new products, and improving customer service. Options involve assessing different approaches to a strategy and selecting the best one, such as deciding whether to outsource a part of the business, reduce costs, or pursue a new partnership. Business strategies should be flexible and open to changing conditions, and business owners should regularly review and adjust their strategies to ensure that they remain relevant and effective.

Market evaluation is the process of analyzing a market in order to understand its potential for a business. This can include assessing the size, growth, and potential of the market, as well as studying the competition. Market evaluation is used to help businesses make more informed decisions about which markets to enter and which strategies to pursue.

To conduct market evaluation, businesses need to research the market, analyze the data, and draw conclusions about the potential for success. This process typically involves creating a market analysis report that identifies target markets, examines customer needs and preferences, and assesses the competitive landscape.

Industry study and opportunity validation is the process of researching and validating a new business opportunity. This process typically involves gathering data and insights on the market, competition, and potential customers, as well as assessing the viability of the opportunity from a financial and strategic perspective.

To do industry study and opportunity validation in a business strategy process, you should first research the market and identify potential customers. Then, analyze the competition and evaluate the risks and opportunities associated with the business opportunity. Finally, develop a financial plan to assess the potential profitability of the opportunity and create a strategy for how best to move forward.

Business benchmarking is the process of measuring a business's performance against industry peers or competitors. It can involve comparing a range of metrics such as processes, products, services, customer satisfaction, and financial performance.

1.Analyze current business processes and activities.

2.Identify gaps in existing capabilities.

3.Develop a strategy to close those gaps.

4.Identify areas of improvement.

5.Develop strategies to address those needs.

6.Measure progress and ensure progress towards goals.

7.Evaluate the current organizational structure and resources.

8.Analyze the competition to identify potential opportunities.

9.Assess the potential profitability of the opportunity.

10.Develop a plan for how best to move forward.

SWOT analysis (or SWOT matrix) is a strategic planning and strategic management technique used to help a person or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning. It is sometimes called situational assessment or situational analysis.

Business Strategy scenarios are hypothetical situations that a business can encounter, which can help the organization identify potential opportunities and threats. By analyzing these scenarios, a business can develop strategies that can be used to take advantage of opportunities and address potential threats.

To do this, the organization needs to identify the possible scenarios that it could encounter, analyze the potential impacts of each scenario, and develop strategies to address each one. Additionally, the organization needs to have the ability to quickly adapt and adjust its strategies in response to changes in the business environment. This requires strategic thinking, analytical skills, and the ability to make decisions quickly and accurately.

To identify the strategic direction and selected scenario, you will need to analyze the potential scenarios that the business may encounter and assess the potential impacts of each scenario. You should then develop and evaluate strategies that can be used to take advantage of the opportunities and address the potential threats. After evaluating the strategies, you can select the one that is most likely to succeed and use it as the basis for your strategic direction. You should also identify the scenario that the strategy is best suited for and use it to inform your decision-making process.

Strategic targets and objectives in business strategy are the specific goals and results that a company aims to achieve over a given period of time. These targets and objectives should be actionable, measurable, and realistic, with achievable deadlines.

The Strategic initiatives are specific actions or plans that an organization undertakes to achieve its strategic goals and objectives. In order to build strategic initiatives, an organization needs to have a clear understanding of its goals and objectives, as well as its current capabilities and resources. It should also consider potential risks and opportunities before developing a plan of action.

Business strategy direction validation is the process of assessing and validating the direction of an organization's business strategy. It involves examining the current state of the organization and its strategy and identifying any potential issues or risks that could affect the organization's ability to meet its objectives.

Estimating the required investment to implement a developed business strategy involves considering the costs of the resources needed for the task, such as personnel, materials, and technology. Additionally, the costs of any external services or consultants that are needed should be taken into account. Other important factors to consider include the expected return on the investment and the timeline for the return. Furthermore, the liquidity of the investment and the tax implications should be taken into account. Finally, any regulatory or legal issues that may arise from the investment should be evaluated.

A Business Capabilities Matrix (BCM) is a structured graphical representation of the capabilities of an organization. It is used to identify and understand the current capabilities of an organization, as well as identify any gaps in those capabilities. A BCM will typically contain information such as the types of capabilities an organization has, their inter-relationships, and any dependencies between them.

Designing an organizational structure based on an operating model requires careful consideration of the goals and objectives of the business. It should focus on aligning the structure with the overall strategy and objectives of the business, as well as creating a clear chain of command and delineation of responsibilities and roles. Additionally, it should ensure that the right skills and resources are in place to properly execute the chosen operating model. It should also consider the scalability of the operating model, as any changes made to the organizational structure must be able to easily scale up or down as needed. Finally, the organizational structure should be designed to ensure that the operating model is flexible and can quickly adapt to changing market conditions.

Business Strategy Detailing is the process of analyzing and evaluating a company's current strategy and developing detailed plans for implementing and executing the strategy per initiative, product and service. This process includes researching and analyzing the company's current market, understanding the competitive landscape, identifying customer needs, and developing a plan for reaching the desired market position.

The Strategy House Diagram is a visual representation of an organization's goals, objectives, and strategies. It provides a clear overview of how the organization's goals, objectives, and strategies are interconnected and how they support each other. It is used to help organizations articulate a clear vision, create differentiation, focus resources, and deliver tangible results.

Start by listing the organization's main goals and objectives. Then, for each goal, list the strategies needed to achieve it. Finally, draw a diagram that connects the goals, objectives, and strategies to one another. This will help you to visualize how all the pieces of the puzzle fit together, and will help you to make sure that all the strategies and activities are in line with the organization's goals and objectives.

The organization change management process required to execute new business strategies typically includes the following steps:

1.Assessing the need for change: This involves identifying the factors that require a change in the current business strategy, such as changes in the competitive landscape, customer needs or technology.

2.Developing a change plan: This involves developing a detailed plan that outlines the steps and activities necessary to implement the new business strategy.

3.Implementing the change plan: This involves carrying out the activities in the change plan in order to successfully implement the new business strategy.

4.Evaluating the change: This involves monitoring and measuring the impact of the change in order to ensure that the new business strategy is successful.

A new business strategy communication plan is a plan that outlines the steps and activities necessary to communicate the new business strategy to key stakeholders. The key action points in a new business strategy communication plan include identifying stakeholders, developing a communication strategy, creating communication materials, and evaluating the effectiveness of the communication plan.

Additionally, it is important to ensure that the communication plan is tailored to the specific needs of the various stakeholders. Additionally, the communication plan should include clear action points and deadlines for implementation.

A business case is a document that outlines the reasons for pursuing a particular project or venture. It serves as a justification for the project and provides an analysis of the project’s costs and benefits. The key components of a business case include a strategic context , economic analysis, commercial approach, financial case, and management approach.

A commercial roadmap of strategic initiatives is a plan outlining the steps and strategies that a business should take to achieve its desired commercial objectives. It includes a timeline of key milestones, the resources and investments required, and the goals and objectives that need to be achieved. The roadmap is designed to provide a clear and actionable plan that can be used to guide the business in its efforts to reach its desired commercial goals.

The new business go-to-market (GTM) approach is a strategy that outlines the steps that a business needs to take in order to successfully launch a new product or service. This includes developing a plan to reach the target market, creating a pricing strategy, and devising a promotional strategy.

A business strategy operating model is a framework that outlines how a business operates and how it pursues its goals and objectives. It is a combination of strategies, processes, and resources that are designed to help the business reach its objectives.

The strategy governance model is a framework for creating and implementing effective strategies for an organization. It is designed to ensure that all stakeholders are aligned on the organization's objectives and that there is a clear understanding of the roles and responsibilities of each stakeholder.

Each component is designed to ensure that the organization’s strategy is created, implemented, and evaluated in an effective and efficient manner.

The strategy governance model also enables stakeholders to effectively collaborate and communicate to ensure that the strategy is successful.