Developing Your Strategies
As you consider the strategies that you will use to help meet your objectives, think broadly about the approach you will take. Your strategies are, in essence, a description of how you will accomplish your objectives. Strategies describe a general approach, rather than specific actions or tactics, which are discussed in the next chapter.
Suppose you have established a goal of growing your business and a related objective tied to that goal of increasing market share by 20 percent over the next year. The next step is to determine how you will increase market share. This list of potential hows
represent strategies. For instance:
• Introduce a new product.
• Expand into a new geographic market area.
• Expand production ...