Strategic Profile of a Firm | Management Optional Notes for UPSC PDF Download

Organizational Strategy Basics:

• An organizational strategy is like a roadmap for a business, showing its desires and needs over time, along with the goals it aims to achieve in the short and long term.

First Step in Creating a Strategic Profile:

• Stating the organizational strategy is the initial step in building a strategic profile. It sets the foundation for the company's mission and vision for development.

Developing the Formal Strategic Profile:

• Once the organizational strategy is clear, the next step is creating the formal strategic profile, which outlines the benefits and drawbacks of the business in a clear and concise manner.

Strategic Profile Framework

Steps in Developing a Strategic Profile

• Step 1: Collect Company Background Information:

  • Gather info about the company's history, origin, past sales, and growth. Outline internal and external factors impacting the business.

• Step 2: Compose Mission and Vision Statement:

  • Write a mission statement explaining the business's purpose and how it meets customer needs.

• Step 3: Conduct Situation Analysis:

  • Analyze the general, industry, and competitive environments. Identify the market served, industry conditions, and competitors.

• Step 4: Perform SWOT Analysis:

  • Assess strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal, while opportunities and threats are external.

Understanding SWOT Analysis:

• SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
• Strengths are advantages over competitors, unique marketing positions, and market share.
• Weaknesses are internal issues like a lack of qualified workers or financing.
• Opportunities are new markets, customers, or technological advancements.
• Threats are external factors like competitors or anything hindering profits.

Benefits of Strategic Profiles:

• Detailed Information: Strategic profiles provide detailed info about a company's history and offerings.
• Mission and Vision: Consumers can learn about a company's mission and vision through strategic profiles.
• Performance Evaluation: Organizations use strategic profiles to evaluate past performance and identify internal weaknesses.
• Direction for Objectives: Strategic profiles and objectives guide organizations in achieving their goals.