Samyak Veera- Strategic Development

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The Importance of Strategy Development for the
Small Business

• Presented by
• Samyak Veera

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DiscussionWhat is Strategy?

• What does it mean for a business, large or small?
• Why is strategy formulation important?
• Strategy is coping with competition.
• Samyak Veera

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What Comprises Strategy?

• Substantial Resource Commitments
• Cross-functional Implications
• Long-Term Effects
• Enterprise-Level Thinking.
• Samyak Veera

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What are the Firms Goals

• Financial Goals- accounting based, Stock Market
  based (if applicable)
• Strategic Goals- non-financial goals
• Samyak Veera

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Types of Objectives

• Financial Objectives- objectives that improve a
  firms financial performance

• Strategic Objectives- outcomes that strengthen a
  firms competitiveness and long-term market
  position

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How do you plan to achieve goals?

• Means to achieve goals
• Internal Analysis (SWOT)
• Resource Allocations
• External Analysis
• Industry Structure

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Strategy is..

• Making Choices
• Goals
• Means to achieve goals
• Resource Allocation
• Samyak Veera

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What determines a firms success?
Industry Attractiveness- What industries should
we be in?
Corporate Strategy
Competitive Positioning- How should we compete?
Business Strategy
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External Market Forces
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Differentiation

• A company seeks to build customer loyalty by
  positioning its product or services in a unique
  or different manner.
• Idea is to be unique at something customers
  value.
• KEY build basis for differentiation on core
  competencies, what the firm is uniquely good at
  performing.

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Contact Us

• Samyak Veera
• https//www.linkedin.com/pub/samyak-veera/b/418/80
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