Main Factors of Strategy Formulation

Strategy and Innovation


Khadija Kalangu, Tanzania

Main Factors of Strategy Formulation

Question. What are the main factors that needed to be considered during the formulation of strategy?


Claude Balleux
Strategy Consultant, Canada

The Main Factors of Strategy

Strategy is how to reach your goals. So, the goals that you want to reach are the first thing you should know.

Julius Nyangaga
Consultant, Kenya

Main Factors of Strategy: Goals + SWOT

1. Your goal(s). In light of developments in factors 2 to 5 below, be ready to review but keep an eye on a major driving vision.
2. Strengths: internal features that provide you the greatest advantage to achieve your goals: age, education, experience, technology, capital, intelligence. Build on them; use them to their greatest possible degree.
3. Weaknesses: internal features that threaten achieving those goals. The list is the same as above but consider which are or likely to become stumbling blocks. Plan to reduce their effects.
4. Opportunities: external situations and developments that can be exploited to achieve your goals. Use PEST analysis plus industrial (and competitive) analysis. Reach out and take advantage.
5. Threats: external situations and developments that are likely to affect your goals. Again use PEST analysis and especially consider competitor developments. Plan to overcome their negative effects.

Adam Sheikh, Kenya

Main Factors of Strategy Formulation

Strategy is a road map to achieving organizational results in the long run through formulation and i... Sign up

Alan Kennedy, Canada

Main Factors of Strategy Formulation

I argue in my book, The Alpha Strategies, that the most important first consideration in strategy fo... Sign up


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Strategy and Innovation

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