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A good strategic goal is specific, measurable, achievable, relevant, and time-bound (often referred to as SMART). Here's a breakdown of what makes a strategic goal effective... 1. Specific - A good strategic…

A generic business strategy, as defined by Michael Porter, a renowned strategy expert, refers to a broad classification of strategies that companies can pursue to gain a competitive advantage within their industry…

The length of a strategic plan can vary depending on factors such as the size and complexity of the organization, the scope of the plan, and the preferences of stakeholders involved in…

Functional strategy refers to a set of plans and actions designed to achieve specific objectives within a particular functional area or department of an organization. Unlike corporate or business-level strategies, which focus…

Setting strategic goals involves a structured process of identifying and defining the desired outcomes that an organization aims to achieve in alignment with its mission, vision, and strategic priorities. Here are the…

The "best" business-level strategy for a company depends on various factors, including its industry, competitive environment, resources, capabilities, and strategic objectives. There is no one-size-fits-all answer, and different strategies may be appropriate…

The order of strategic planning typically involves several sequential steps or stages that guide the development, implementation, and evaluation of the organization's strategic direction. The specific process may vary depending on the…

Starting with strategy involves a systematic approach to defining the direction, priorities, and actions needed to achieve your goals effectively. Here's a step-by-step guide to help you get started with strategy... Clarify…