Exercise: What is your company's strategy?
What is your mission and what is your strategy? Follow these instructions:
If there is a written strategy in your company, analyse it and describe how your product development is influenced by it. Conversely, describe how product development is considered to support the company in realizing the strategy.
If your company does not have a written strategy, then your task, with the aid of this lesson, is to work out a proposal for a strategy. Define your business purpose by describing your long-term mission, based on your core competences and perceived social responsibility, and define your strategy for achieving the goals.
Ask for help from others in the company; consult your CEO and Board. Do not forget to consider how your product development and your current products will be influenced by the strategy.
How is your company positioned in comparison with your most important competitors? Consider a number of factors. The factors are described in the document, which you can download and save. Write down the names of the companies with which you compare your own. Consider each point carefully. Rate your company and competitors with respect to each point on a scale from 1 to 5 (from very weak to very strong; 3 for average).
Download the template, which you can use to evaluate your company's strategy now, and keep it open beside you or print it.