Developing a strategic profile: the pre‐planning phase of strategic management
Abstract
Purpose
The purpose of this article is to assist strategic planners and managers in developing and utilizing a strategic profile of the firm in order to conduct a SWOT analysis and therein apply its results appropriately.
Design/methodology/approach
How are the objectives achieved? This objective is achieved by developing a seven‐step procedure, with templates that assist planners and managers in creating a strategic profile of the firm and then utilizing that profile as a filtering mechanism for a SWOT analysis. The article covers the topics of competitive approach, competitive strategy, organizational structure, leadership, and organizational culture.
Findings
The profile may not only be employed as a method for centering a firm's strategic planning and implementation, it may also be used for creating a competitive profile of the firm's competitors.
Practical implications
The practical implications of the article indicate the need to attach a pre‐planning stage to the typical strategic management process of a firm. This action will lead to the creation of a preliminary strategic profile of the firm. This profile is used to produce a more accurate SWOT analysis with a greater likelihood of successful strategy implementation.
Originality/value
The value of this article is that it introduces a pre‐planning stage to the traditional strategic management process. This stage creates a strategic profile of the firm which managers and strategic planners can use for two purposes: producing a more accurate SWOT analysis with a greater likelihood of successful strategy implementation; and creating a strategic profile of their competitors.
Keywords
Citation
Sherman, H., Rowley, D.J. and Armandi, B.R. (2007), "Developing a strategic profile: the pre‐planning phase of strategic management", Business Strategy Series, Vol. 8 No. 3, pp. 162-171. https://doi.org/10.1108/17515630710684150
Publisher
:Emerald Group Publishing Limited
Copyright © 2007, Emerald Group Publishing Limited