Introduction

All organization’s (both profitable and non-profitable), has its mission, vision and goals.
The organization works to achieve the goals based on the objectives of the organization. A
strategy can be defined as action plan prepared to achieve the goal of the organization. This
action plan helps the organization for making competitive advantage. This strategy is connected
to achieve the social, economic and environmental objectives and responsibilities of the
organization. The strategy will reduce the length between long term and short term strategy.

The selected company the formulation corporate strategy plan is an iron nail production
industry in Dubai. This industry is very famous for its strategies to achieve the success. The
strategy prepared by the business wing of the company. Before the finalization of the strategy the
organization made a strategic plan by conduction certain analysis to identify the current market,
the market position of the organization etc.

The steps included in the strategic planning process can be explained as:-

Step-1: Analyzing the organization and its surroundings/business Environment:-

This is basically to study the strength, weakness, opportunities and threat of the
organization. This can be done with the support of SWOT analysis. SWOT is a tool to identify
the Strength, Weakness, Opportunities and threat of an organization. The analysis gives an idea
about how the strategy to be prepared. In the same the environment of the organization also to be
analyzed using SWOT. The environment means the market where this organization is going to
launch their product. The other tools like PERT, porters analysis also can be used for
environmental analysis

Step-2: The analysis of customers and stakeholder of the organization:-

This analysis gives an idea about what you have to focus in strategy formulation. The
successful of a product is mainly depends on the quality and the need of the product. So this
analysis will give and idea about what the customer need.

Step-3 the competitor analysis:-

For every organization there is a competitor. So we have to analyze the strength and
weakness of the competitor. This analysis will give an idea about where we have to focus on
production and marketing

Step-4: Identification of the strategic options:-

In this stage we have to make the strategy based on the analysis done in step-1,2,3 . The
identification of the exact strategies will give a positive output to the organization.

Step-5: Selected strategy evaluation: