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John & Sons is a manufacturer of computer chips, and their revenue is declining which is...

John & Sons is a manufacturer of computer chips, and their revenue is declining which is resulting in lower profits. The sales team is doing their best to increase revenue, but they are struggling like their other competitors. You have been hired as a business consultant to come in and help the company turn it around. What steps in the strategic planning process would you implement first to help you understand the company before making any recommendations?

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Answer #1

steps in the strategic planning process would you implement first to help you understand the company

1) Obtain understanding of business

The first step is to obtain understanding the nature and environment of business. What are the risk involved in it.

2) Vision and Mission statement of the company

The second step is to go through the vision and mission statement of the organisation.

3) Identify the market position

Understand the current market scenario and product demand. The elasticity of the demand should also be stiudied

4) SWOT analysis

5) Understanding the peer companies

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