From the course: Strategic Planning: Case Studies
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
Evaluate and prioritize opportunities
From the course: Strategic Planning: Case Studies
Evaluate and prioritize opportunities
- Companies must assess ideas and opportunities in terms of their fit with their strategy. Then prioritize those ideas to focus efforts on the most meaningful initiatives. This is how you stay focused on the vision and mission of the organization. It also helps you avoid pursuing initiatives that are inconsistent with the strategy. Widgets Deluxe is using five strategic filters to asses its initiative portfolio. The filters they're using are: Is the idea consistent with their brand? Is the idea about offering a premium product? Is about selling more product at retail? And they're using two financial filters, are the ROI and NPV high? Here are some of the initiatives that they're looking at. Let's run them through the filters and see how they do. The first idea is offering a private label product for a retailer. This idea fails on being consistent with their brand and it's not about offering a premium product. This…
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.