In a business, decisions must be made at all levels with the goal of increasing the company’s productivity and profitability. In the previous article, we discussed the various decisions that a company must make in order to be successful.
InnowayIt facilitates decision making by identifying and analyzing the strategic choices available to a company, performing a diagnosis of the choices so that it can achieve its goals with ease.
InnowayIt facilitates decision making by identifying and analyzing the strategic choices available to a company.
The process at InnowayIt is as follows;
1. A strategy tree is created for the corporate strategy.
2. Corporate strategy is divided into Line of Business Strategy (the products or services that are sold to customers) and Support Function Strategy (which refers to IT, billing or other operations).
3. Information is then gathered on all potential choices under a particular line of business or support function strategy.
4. These choices are subjected to the most appropriate evaluation model (e.g., VSAFE – value, suitable, acceptable, feasible, and enduring).
5. Each choice is then scored and ranked using these evaluation models.
6. Responsible people from the companies are consulted to decide which option to choose. The strategic option with the highest score is likely to be selected.
About the Author
Aamna is a graduate from Kings College London, having secured her LLB in 2021 she has decided to venture out and explore areas such as management and marketing. Having previously worked at startups, she is currently working at InnowayIt as a content writer.