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Faculty of business and Mediterranean studies

Ulcinj

Subject:

English language

ESSAY
Choosing a strategy to success

Professor: Student:

Prof.dr Majlinda Duraku Harun Gorana

Index number: 56/18

December 2020., Ulcinj

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Choosing a strategy to success

Every day, management and executives are confronted with strategic

decisions on which depends future development of the company. You do not have to be the
CEO of your company to set a succesfull strategy. As a manager, as a team leader, and as an
individual contributor—nearly everything you do might benefit from a strategy. In fact, in
many employee performance reviews, a failure to adopt strategic thinking is often a
roadblock that keeps otherwise qualified candidates from scoring a promotion. In this essay
we will consider what requires a successful strategy and how to choose it. It is very
important to know that successful strategy requires a significant opportunity, the ability to
extract value from that opportunity, and an investment balanced with the returns possible
from that opportunity. The main question of this essay is how to choose a strategy to
success?

First thing you must do is to take a look at your past performance and
all the areas of your business. You want to determine your success drivers, identify existing
opportunities, and detect what currently hinders your firm’s success. SWOT analysis works
great at this stage. Then, you absolutely need to know what objectives you’re aiming at
before choosing a strategy. Does your company need to increase sales or do you perhaps
need to secure your position on the market? Setting specific, measurable goals is a must.

Strategic thinking is part of our personality traits; some of us are big

picture thinkers while others do better focusing on the details. Big-picture thinkers might
fight this article downright silly. But for us detail-oriented leaders who do not naturally take
the big-picture view, a framework that guides our focus can be helpful in formulating our
priorities. Formulating a strategy involves deciding who or what you should be, how to best
deliver value, and the plan of action that will achieve the desired goal. Successful strategy
does three things:
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 Defines a focus area—indicates where to direct effort

 Explains how to best utilize assets and resources
 Sets boundaries for what lies outside of capability.

It is important to identify the problem that is keeping you from achieving goal.
Sometimes your problem is clear and all you need to do is get started on the solution.
Other times, however, your problem is that you have selected the wrong goal. A SWOT
analysis can confirm you are answering the correct question or help you get clarification
if your objective is value.

Stretch goals can be intimidating. One-year, two-year, or five-year goals might

seem so far away. These are emotional reactions to a goal and can create problems. To get
away from that, structure your problem logically. Break a big, seemingly insurmountable
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objective into smaller bite-size pieces. Create short-term targets and action items. Going
into problem-solving mode can be one of the best ways to keep fear and performance
anxiety at bay.

Analyzing a problem requires not only systematic thinking, but also

creativity. If you don't consider yourself particularly creative, asking why or how--again and
again--is an easy way to generate multiple hypotheses and get to the root cause of a problem
quickly. Collect supporting data and begin making the case for the solution.

The solution is the plan of action that solves the problem that has been
keeping you from attaining your goal. The solution is your new strategy. It defines who or
what you should be, how to best deliver value, and the actions that will achieve your goals.

Your vision must be showing where you want your business to go and the
mission is that which responds on the question how you are going to get your success? Once
you consider and answer this questions, it becomes clearly what is the strategy you should
choose.