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Aim: A5 – Emerging Strategy A5 – Emerging Strategy • To understand the role of business strategy within the business start-up process Learning Outcome:• Write an effective mission statement for a business• Understand strategic terminology Developing Strategy Developing Strategy • STRATEGIC ANALYSIS • STRATEGIC CHOICE • Understand where you are• Where do you want to get to? • How do you get there? Define your terms (1) Define your terms (1) • Mission: what business are we in? (define from customer benefit viewpoint) • Aim, objectives & goals: where do we want to go and how do we get there! ? • Analysis of resources: S & W Define your terms (2) Define your terms (2) • Strategic Plan: how do we achieve our objectives with our resources? • Action Plan: ‘to do’ to achieve objectives • MONITOR, CONTROL AND REVIEW Example of a mission Example of a mission • BUSINESS START-UP @ LEEDS MET ” to create an innovative and creative environment within the University which will enable individuals to contribute to the growth of sustainable business within the region” Mission statement (1) Mission statement (1) • Framework for entire business • Articulation of the belief that the company has in itself, what it can achieve and the values that drive the company • Staff focus Mission statement (2) Mission statement (2) Answer these questions: • WHY ARE WE IN EXISTENCE? • WHAT IS THE NATURE OF THE BUSINESS? • WHAT CUSTOMERS DO WE SEEK TO SA TISFY? Mission statement Mission statement • Describes “Firm’s product, market and technology in a way that reflects the values and priorities of the strategic decision makers” (Pearce ’82) • ETHICAL POLICY / SOCIAL POLICY • PURPOSE
– why do we exist? Mission statement Mission statement Ashridge Mission model: • STRATEGY
– competitive position and future orientation • BEHAVIOUR & STANDARDS – policies and culture • VALUES
– what do we believe in • Making it happen!• How do you get there? • Intended Strategy• Unrealised Strategy • Emergent Strategy 

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