The strategy development process at MAKS Holdings, is done by carrying out several in-depth exploration and discussion sessions, and the process is tailored as per the needs of the organization. At this phase, TM clearly identifies the company’s vision & mission statements. After that, its vision and mission, current situation in the market, external and internal environments and competitors are evaluated. Moreover, internal analysis is done by TMT which includes the assessment of MAKS Holdings, resources, core competencies and activities.
After successful analysis of all significant aspects of Maks Holdings, corporate objectives are designed which act as directions for specific strategy selection. Subsequently, senior managers choose between many strategic alternatives. That depends on a Maks Holdings objective and results of situation analysis. Strategy implementation process at Maks Holdings, consists of the following 6 steps:
Strategies are monitored incessantly, and due to constant change in the external and internal conditions senior managers continuously review both environments as new strengths, weaknesses, opportunities and threats may arise. And if new circumstances affect the company, managers take corrective actions as soon as possible.
Measuring performance is another important activity in strategy monitoring done by senior management. They compare their actual results with estimated results and see if they are successful in achieving their objectives. If objectives are not met they create: