8 Strategic Questions To Uncover Opportunities

strategic questions

As we say in our Gazelles Methodology – the key is asking the right questions.

Questions that challenge, questions that force us to think.

As we say in our Scaling Up Methodology – the key is asking the right questions. Questions that challenge, questions that force us to think.

Here is a list of the top 8 strategy questions that I ask in strategy sessions:

1. In order to execute your business strategy, what are the key things you must do well?

After your strategic planning session, you will have a clear road map that consists of organisational goals and principles for you to take action. What are the things you must focus on, and do well? Identify what you should prioritise, and what you shouldn’t. 

2. What competitive advantages must your company create for your strategy to be successful?

Understand your market and look for what makes your company stand out as a superior choice.

3. What are the most valuable outcomes your organization enables for your customers?

Your products and services must be considered worthy of your customers’ time, energy and money. Creating valuable outcomes for your customers increases your brand’s reputation, profits and long-term success.

4. What are the major forces driving changes in your business?

Organisations are always evolving and adapting to increase productivity, usually in small ways on a day-to-day basis. However, there is often pressure on organisations to make significant changes due to factors such as competition, technology, or customer demands. Identify what the major forces are in your business, whether internal or external, and respond to them effectively.

5. What conditions have the most disruptive impact on your business now, and will have in the future?

Understanding business disruption allows you to gain a clearer understanding of your innovation and opportunities, improving your overall results. 

6. What are the greatest opportunities for your company to change the basis of competition in your industry? 

How might these impact barriers to entry? Switching costs? Relationships in your value chain? Product differentiation?

7. How sustainable is your market position and the business model needed to achieve and support that position?

Positioning can be one of the most challenging marketing activities and many companies struggle to get it right. Does your business model and strategic plan have the resources and support needed for long-term growth?

8. What are your options for growing your business in the future?

Will you need to increase your market share, attract new customers, expand your online footprint, find alternative channels or update your product or service offerings? No matter what type of business you have, a well-thought strategic plan is important for growing your business in the future.

The Scaling Up methodology uncovers every corner of your business by encouraging you to ask yourself the right questions, helping you achieve success, no matter how big and complicated your business becomes. It allows you to free your time and focus on the market-facing activities necessary to grow your business, while getting everyone aligned to execute your plan. 

Learn more about Scaling Up your business, and achieving measurable results.

To Scale Up your business! Take our Scaling Up/Four Decisions Needs Assessment to discover how your business measures against other Scaled Up companies. We’ll contact you.

Ted Bonel – Strategy & Execution Advisors

Need assistance to help your team achieve your objectives to grow your business? Contact me at tedb@strategyandexecution.com.au to schedule a free 30-minute discovery meeting.

About Strategy & Execution

We have been providing organisations and their leaders with facilitation support and executive education focused on strategy development & strategy execution for more than 20 years. We support organisations seeking to create or refine excellent strategies and execute them quickly and effectively.

Our expertise is based on a mixture of wide business experience, effective tools as well as a great deal of consulting and executive education. Our approach to working with clients is as unique as our specialist focus. We always seek to challenge our clients’ thinking – but equally are unafraid to roll up our sleeves and help execute the ideas we help generate. Learn more about us here or view our upcoming workshops and events.

If you are preparing for strategy development and/or a strategy implementation challenge and are committed to creating value for your organisation, we look forward to hearing from you. Contact us now

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