Kennedy Mulenga, MBA
Consultant, Researcher and Lecturer
Published Apr 6, 2023
Strategic thinking involves answering three questions. The three questions are where we now, where do we want to go and How will we get there?
Where are we now? This question should be viewed with respect to industry circ*mstances and competitive pressures, current performance, and market position and strengths, capabilities and weaknesses.
Where do we want to go? This question should be looked at in terms of businesses to be in and market positions (leader, challenger, follower, and nicher), buyer needs and groups to serve and outcomes to achieve.
How will we get there? Answers to this question are the firm’s strategy. Regarding this question, managers must formulate and implement strategies that will allow the organisation to move towards its desired direction, growth the business, grow the business and enhance financial and market performance.
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