Every organization needs to adapt to changes in the business environment. In so doing a strategy has to be formulated that will aid in the transformation of the business. This requires thinking and analyzing the current business state compared with the targeted state that the management desires. The strategies instituted must be in line with the business mandate and must be able to create public value. Strategies instituted may involve continuation of specific practice or the complete cessation of the same. The organization strategy may also be targeting the organization in its entirety or specific departments or franchise.
There are various considerations that can be made while making a company strategy, these include:
- The new capabilities and skills that will be needed in achieving the desired target. It would also be important to consider how such a strategy would affect the workforce composition.
- The desired results after the implementation of the strategy.
- The entire structure of the business enterprise would be considered taking in the reconfigurations needed to deliver the intended target and goals.