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What are the constituents of a strategy statement?

Updated: 8/16/2019
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Strategy statement is the proposed plan on how an objective is to achieved in each phase of strategic management process which can be viewed to be consisting of a number of elements, and can be clearly related with input and output relationships. The steps have logical connectivity and hence these are sequential. These steps can be illustrated with the help of a flow diagram. The following discrete twelve steps can be considered as comprehensive.

i. Defining the vision of the company as a statement.

ii. Defining the mission of the company as a statement.

iii. Determining the purposes or goals as a statement.

iv. Defining the objectives as a statement.

v. Environment scanning as a statement

vi. Carrying out corporate appraisal as a statement

vii.Developing strategic alternatives as a statement

viii.Selecting a strategy as a statement

ix. Formulating detailed strategy as a statement

x. Preparing a plan as a statement

xi. Implementing a strategy as a statement

xii.Evaluating a strategy as a statement.

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