Strategy development is the process of researching and identifying strategic options, selecting the most promising and deciding how resources will be allocated across the organisation to achieve objectives. Key questions to be considered include: the key questions an organisation needs to ask in connection with its future, including:
- What business are we in? Or what business should we be in? (Mission)
- Where do we want to be? (Vision)
- How are we doing? What is going well? What is not so successful?
- How did we get to this point? What went well? What went wrong?
- How can we improve our position?
- What options are open to us?
- What might hinder us from getting there?
- What do we need to do to get there?
- What should we not do?