Business Strategy - Six Steps to A Winning Strategy

Terry Irwin, MD of TCii, explains his approach to taking strategic planning step-by-step.

In today's economic environment, having a solid business strategy is more crucial than ever for survival and success. Strategy is the key to ensuring that an organisation's human, physical and financial resources are always placed in the most profitable position to provide what customers want, when they want it.

Because strategy is so critical, the task of formulating one can be overwhelming. We believe the easiest approach is to break the process down into six distinct and manageable steps.

Step 1: Set Your Goals

You need an overview of what your strategy should look like. Establish your business vision, purpose, idea and objectives as your essential themes. But don't think of these elements as final. They will be constantly fine tuned and reviewed as part of the balancing or positioning process described in step 3.