Create a hypothetical organization offering product /service of your choice. Identify a real potential competitor in the market.
1. Name your product/service as well as organization..
2. Write the mission and objectives.
3. Scan and assess the external environment to determine the strategic factors that pose opportunities and threats.
4. Scan and assess the internal corporate environment to determine the strategic factors that are Strengths (especially core competencies) and Weaknesses.
5. Analyze strategic (SWOT) factors to (a) pinpoint problem areas and (b) review and revise the corporate mission and objectives, as necessary.
6. Generate, evaluate, and select the best alternative strategy in light of the analysis conducted in step 5.
7 .State how you are going to implement selected strategies via programs, budgets, and procedures.
8. State how you are going to evaluate implemented strategies via feedback systems, and the control. of activities to ensure their minimum deviation from plans.