saint MBA565 Initial Strategy Report

Initial Strategy Report The Initial Strategy Report will count as 2% of your course grade. You must e-mail your professor (one per group) with your strategy (short- and long-term). “A successful firm will likely have a strategy that is well thought out and executed. Creating a sound strategy is the most important process your firm will undertake because your strategy is the framework for all decision-making and firm organization. The strategy should be a long-term vision for your firm that every member of your team can reference when making decisions and analyzing data. Strategy is defining segments served and creating a sustainable competitive advantage. It is your road map. It is where and how your firm chooses to compete. It is essential" (Interpretive.com, 2011). The paper should address the following elements: ? Business definition: Who do you want to serve and why? Be sure to include customers/segments to be targeted and customer needs satisfied. What is the rationale for these choices (e.g., segment attractiveness, market gaps, fit with resources, synergies)? ?
Competitive advantage: What competitors will you complete against and how? ? Performance objectives: What are your firm’s performance goals (e.g., highest cumulative profit, highest stock price, largest market share)? ? Key success factors: What is required of your firm to execute this strategy successfully (e.g., product development, outspend competition, first in market)? ? Strategic assumptions:
For your strategy to be successful, what are the underlying assumptions (e.g., first mover)? In essence, your marketing strategy defines your team. How aggressive is its decision-making? How much risk is it comfortable with? Is it proactive or reactive to the marketplace? How patient is it with its decision(s)?