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Select any company (from the internet) and formulate the company strategy, how are you going to execute or implement it, and lastly evaluation of the
Select any company (from the internet) and formulate the company strategy, how are you going to execute or implement it, and lastly evaluation of the same strategy.
Formulating the Strategy:
- Identify the company's mission and objectives: Understand what the company stands for and what it aims to achieve.
- Conduct a SWOT analysis: Identify the company's strengths, weaknesses, opportunities, and threats.
- Analyze the competitive environment: Understand the market, competitors, and industry trends.
- Develop strategic options: Based on the analysis, create different strategies that align with the company's mission and objectives.
Executing/Implementing the Strategy:
- Develop an action plan: Break down the strategy into actionable steps, assign responsibilities, and set timelines.
- Communicate the strategy: Ensure all stakeholders understand the strategy and their roles in its implementation.
- Allocate resources: Ensure necessary resources (human, financial, technological) are available for each action.
- Evaluating the Strategy:
- Measure performance: Use key performance indicators (KPIs) to assess the effectiveness of the strategy.
- Review and adjust: Regularly review the strategy and its implementation, and make necessary adjustments based on performance and changes in the environment.
- Feedback loop: Use the insights from the evaluation to refine the strategy and its implementation.
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