Strategy Pocketbook

Book excerpt: A strategy defines which markets a business will operate in and sets out the organisational competencies that will be needed (and what actions need to be taken to develop them) to enable the business to gain and sustain its competitive edge. The Strategy Pocketbook introduces strategy in clear and concise terms. It sets out the basics, explaining the language of strategists, the factors that shape and drive strategy, the key steps that will lead to the setting and development of a strategy, and the strategic tools that will be needed along the way. Author Neil Russell-Jones MBA, chartered banker and member of the Strategic Planning Society, guides readers through the strategic planning process. His step-by-step approach begins with primary analysis (of the business, its competition and markets) and then secondary analysis (of what the business is offering and what this implies). Planning is the penultimate step, followed by implementation. Numerous analysis tools are used by strategists, including SWOT, PEST, scenario, core competency and critical success factor to name but a few. Russell-Jones, aided by clear graphics, describes the more important tools.