Business strategy development process
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The various business strategies are normally developed simultaneously in parallel working groups. Where different business fields are involved, there is little need for dovetailing between them, but with business unit strategies, where the offers focus on the same market and/or where the same resources are used, very close coordination is required. There are two measures to guarantee this:
A useful coordination tool is the corporate strategy: this can either be for the company as a whole, where the company is active in a single market, or for the business field to which the units belong, in a more diversified company. In addition to specifying target market positions and investment priorities, a corporate strategy, used for the coordination of different business units, should prescribe the generic strategy to be followed and the most important target competitive advantages.
Regular coordination meetings must take place between the different groups working on the development of the various business unit strategies.
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(2008). Business strategy development process. In: Process-based Strategic Planning. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-68583-8_17
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