The major phases in goals-based strategic planning are: analyze situation, set direction, define strategies, and deploy plan. All levels and business units of an organization must be involved in assessing its strengths and weaknesses. Preparing a historical perspective that summarizes the company’s development is an excellent way to begin the first phase of strategic planning.
a. Porter’s Five Forces Model
b.McKinsey 7S model
c. Pareto analysis
d. DuPont analysis
a. Porter’s Five Forces Model
The most frequently used model for assessing the nature of industry competition is
Michael Porter’s Five Forces Model. It has five fundamental factors to determine the level of competition and long-term profitability of an industry.
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