The Manager's View

The fifth part of the MVOSSTE (Mission, Vision, Objective, Situation Analysis, Strategy, Tactics and Execution) is strategy. Creating a new business requires the founders/leaders to understand that any new business  must determine the product to offer, the price customers will pay, how the customers will learn of the product and how the product will be delivered to the customer. These are the Price, Place, Product and Promotion fundamentals of marketing, usually referred to as the 4Ps. Developing a strategy is using the 4Ps of marketing to create value for the company, the customers and the collaborators (the 3Cs), In Part II of this series of blogs we discussed the vision statement. It differed from the mission statement in that it described how our business was going to create value for itself, its customers and its collaborators. Our vision statement was:  To become the leading innovator in mobility and protection solutions—creating value by empowering customers with intell...

 Continuing the discussion of creating a new business using AI and the MVOSSTE (Mission, Vision, Objective, Situation Analysis, Strategy, Tactics and Execution) framework, we have established a mission and vision statement and objectives for the new business with an expertise in making carrying cases (see previous posts that are part I, II and III of this discussion). We have established that the  mission, vision and objective are in alignment. This now leads to the Situation Analysis or research phase of the MVOSSTE framework. The situational analysis phase requires an objective determination of the current resources available (financial, workforce etc.), the size of a potential market, the competitors in that market, the competitors strengths and weaknesses, the resource requirement needed to enter and compete in that market and  the various approaches the new business might wish to employ. In setting the objective (part III of this discussion), we identified several pr...