Strategy is defined as the way an organization meets the challenges and opportunities presented by its environment. It consists of a set of conscious choices about how it will deliver value to its customers and distinguish itself from its competitors.

• Understand the challenges and opportunities present in your external environment.
• Identify assumptions about the future.
• Clarify a reason for being that motivates and inspires.
• Identify the principles by which people will conduct themselves.
• Define your future customers and how you will deliver value to them.
• Identify core organizational competencies needed to succeed in the long run.
• Create a long-term business focus that anchors and distinguishes you from your competitors.
• Set short-term performance goals.
• Establish performance initiatives and a master plan to manage your organization’s long-term development