How do you formulate an enterprise strategy?
There are various inputs to the formulation of an enterprise strategy. SAFe has prescribed as what you see on figure-1.
Figure-1
My favorites are:
1) Distinctive competence – Strategy naturally leverages distinctive capabilities, the unique advantages — strengths — that differentiate this business from others, and provides a competitive edge.
2) Competitive environment – Competitive analysis identifies the most significant competitive threats to the business.
How?
First, do a SWOT analysis… what are your enterprise’s internal Strengths, and Weaknesses; what are the external opportunities and threats? Find those.
Then do TOWS analysis — a tool that helps you strategize.
Then, for this example, threat-strength strategies, find the strategy that will use your strengths to overcome/avoid threats.
That’s it!
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