Answer:In a for-profit company, for which competition and profitability are important, your goals will differ from those of a nonprofit or government department. Likewise, objectives for a department or team will have a different scope from objectives for your organization as a whole.
For example, and depending on scope and circumstances, you may want to develop strategies to:
Increase profitability.
Gain more market share.
Increase approval ratings, or boost customer satisfaction.
Complete a project under budget.
To determine your strategy, you must understand fully the internal and external environmental factors that affect you. With that understanding, you can identify your clear advantages and use these to be successful. From there, you can make informed choices and implement your strategy effectively.
So, strategy creation follows a three-stage process:
Analyzing the context in which you're operating.
Identifying strategic options.
Evaluating and selecting the best options.
We'll look at this process, and review some useful tools that can help you develop your strategy.
