A strategy is a company’s method to stand out from the masses. It is by this that companies can create better innovation and operations. That’s why it is empirical for one company to have not only one overall strategy but also a set of policies to support this. And because of this, we compiled a collection of Strategy Examples and Templates in Microsoft Word to help your company in its endeavors. However, not only that, but we also added an excellent guide to help you through creating a Strategy in Microsoft Word. So hop in and check it for yourself.
In a sense, a strategy is how an individual, company, or business ensures to reach its overall goals and plans no matter the situation. A strategy is usually supported by short-term goals, policies, and priorities.
Within the corporate world, there are at least three types of strategies that people use. These things allow a startup or small business to improve its venture without much risk but with better rewards. Listed below are these exceptional strategies.
A business strategy is a type of strategy that concerns with the product and target market. This strategy is essential as it is a fundamental strategy to run a startup or a small business.
The next one is the operational strategy. This type of strategy is what makes a business strategy into a tangible and workable strategic plan. It is mainly concerned with a business strategy’s specifics to ensure that the ideals and goals fit the market’s current status.
Lastly, we have transformational strategy. This type of strategy is the polishing end of a business strategy that radically transforms a business inside out. It also allows a company to improve on its current operations and weaknesses.
Microsoft Word is one of the most straightforward computer applications in the world. It is basically writing made easy. So if you want to create an excellent strategy in Microsoft Word, you can be sure that it will be quick and efficient. We also provided the steps below to ensure that you are doing the right thing. Check them out below.
Information and data are essential before creating a strategy. Why? Because without proper information gathering, your strategy is irrelevant. I mean, imagine trying to sell pork in a community that doesn’t like one. You’ll end up bankrupt. That’s why before creating your strategy you should create a case study first or other information-gathering methods.
After finding out the perfect market to dive into, you should create a mission and vision statement. Although you don’t need to establish it, at least a general idea of it should do. In this way, you will be ready to write one in your strategy quickly when the time comes.
Out of your mission and vision statements are objectives and plans. So, for your next point make sure to create objectives and plans for the business to improve it. You should try to make it as SMART(Specific, Measurable, Achievable, Realistic, and Time-bound) as possible.
Whether you like it or not, there will be times when you cannot complete the tasks and objectives you’ve set. However, what matters is that you should a means to do an analysis of how you’ve fared. Some companies have a Key Performance Indicator and other matrices of the kind. So make sure that you have one. Either it’s for marketing, training, or basic management.
The five Ps of strategy according to Henry Mintzberg are:
1. Plan
2. Pattern
3. Position
4. Perspective
5. Ploy
Depending on the type of company you have these things might have other aspects as well, however, generally, the four levels of strategy are:
1. Corporate Level
2. Business Level
3. Functional Level
4. Operational Level
A strategic plan has five key components namely, a mission statement, a vision statement, goals and objectives, action plans, and operations transformations/strategy review. So, in a sense to make an excellent strategic plan, you need to make sure that all of these factors are included within your document. The executive summary, title, and appendixes are all important but the fundamental factors are the ones mentioned earlier. These things should stand out in your model.
Whether you are creating a global strategy or a simple startup strategy. These things remain. So make sure that you approach the strategy creation process with the same level of commitment you’ll do to any strategy level. Never take things at face value.
