Frequently Asked Questions about Strategy Creation and Business Planning What is Business Strategy? For us, a business strategy reflects the ambition and vision of the owner and senior management. Since…
What is an Operational Goal? Operational goals support the overall strategy by providing the necessary resources and support to achieve the long-term strategic goals and vision of the business. Strategic…
What is Business Strategy? There are many different definitions of business strategy. Some are quite prescriptive, suggesting that a strategy will fall into a particular type. These include cost leadership,…
What is a SWOT Analysis? A SWOT analysis is a commonly used tool that helps organisations to understand their current situation, both internally and externally. The SWOT analysis helps…
What is the SMART Criteria? SMART is an acronym for Specific, Measurable, Achievable, Relevant and Time Bound. It is most often used to guide the setting of objectives and goals.…
What is the Difference Between Mission, Vision, Purpose & Values? Your mission, vision, purpose and values play an extremely important role in strategy development and in shaping the culture of…
What is a Professional Services Firm? Professional services firms are knowledge intensive organisations that provide expert service to clients. Examples of professional services firms include Accountants, Architects, Management Consultants, Lawyers, etc. There are…
How do we Measure the Progress Towards Achieving our Business Goals? Establishing goals is only part of the work in a business plan. Once the goals have been explained to the…
What is a Strategic Goal? Strategic goals describe what the organisation wants to accomplish in the longer-term. They provide a sense of direction, motivation, a clear focus, and clarify importance. Strategic…
What is a Vision Statement? A vision statement describes what you envision the future of your organisation to be. A strategic vision is the aspirations that the owners / senior…
