File includes 5 templates. There are 6 Key Strategic Decisions, this is the fifth one. The Key Strategic decisions are among the biggest decisions you can make to really move the needle for your company. Business Diversification is tough because it means getting into something that you are not nearly as familiar with as you are with your current business. You will have to do a new industry analysis (which is not in this template but is the same as in External analysis Forms). But if you want to consider business diversification these templates will help you. The first form will help you identify new business opportunities. The second form has an initial evaluation considering the main synergies in terms of competences, a (very brief) Industry Analysis, and some other questions to help you think if this is really a wise decision. Academia has shown that business diversification is best when there is Horizontal Strategy in place. Are Core Competences and Competitive Advantages being reinforced? Are there collaboration mechanisms to explore each other’s strengths? This 3rd form makes you think about that. The Key Strategic Decisions are usually some of the most impactful so you must evaluate them further. The 4th form compels you to think further about and putting a preliminary P&L together for any New Business you are considering. The 5th has a SWOT form where you’re encouraged to summarize the findings of the process above; the Strategy4Action framework peruses 23+ areas, including Business Diversification. The Key Strategic Decisions are the last of the 23 areas.
File format: compressed (zip) excel file, editable.
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