Stages of development of competitive strategy

Strategy means the choice of the company’s development paths, markets, methods of competition and doing business.

The process of developing and implementing the strategy consists of five interrelated tasks:

Formation of a strategic vision for the future of the company. In other words, determining the long-term development prospects, formulating the future image of the company and the goals of the organization; Goal setting; translation of the strategic vision into a practical plane; Strategy development; Implementation of the strategy; Evaluation of results and adjustment of the strategic vision, global goals, strategy and its implementation, taking into account the experience gained, changed conditions, the emergence of new ideas and opportunities [15 p.35].