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Strategy
The coordination of resources and actions so that a goal is reached.
Strategic assessment starts with a basic audit which includes:

    Internal audits
  • company basics
  • current strategies
  • sales analysis
  • expense analysis
  • financial ratios
  • benchmark metrics against the industry
  • business segment analysis
  • operations analysis
  • markets
    External Audit
  • state of industry
  • industry business model
  • government impacts
  • cultural and social trends
  • demographics
  • technology
  • economics (Macro)
    Competition - Often a separate analysis
    Gap Analysis - Simply the difference between goals set and what the reality of resources makes possible.
A famous military example of strategy is British Admiral Nelson’s decision to attack the Spanish and French line of ships to divide the opposing fleet in sections. Based on Nelson’s intelligence of where the Spanish and French fleet would be and his assessment of his own resources, Nelson’s strategic choice to position his fleet and divide the opposition was not obvious to anyone at the time. Nelson assessed his fleet’s resources including the wind direction, the power of sail, along with the risk of not having his fleet’s mainly side mounted guns properly facing the opponent (crossing the “T”) but taking the step of dividing his opponent’s fleet into parts.