How to Develop a Business Strategy for Your MBA Capstone Project

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Developing a business strategy is one of the central components of your MBA Capstone project. This strategy should be based on thorough research, data analysis, and an understanding of the business environment.

5.1 Understand the Business Context

Before developing a strategy, assess the business environment:

  • SWOT analysis: Analyze the organization’s strengths, weaknesses, opportunities, and threats.
  • Market research: Understand industry trends, customer behavior, and competitor strategies.

5.2 Define Clear Objectives

Identify the strategic goals your business needs to achieve. These could include expanding market share, improving profitability, launching a new product, or entering new markets.

5.3 Use Frameworks and Tools

Leverage strategic frameworks like:

  • Porter’s Five Forces: To assess industry competition and potential profitability.
  • PESTLE analysis: To evaluate the impact of external factors (political, economic, social, technological, legal, and environmental).
  • Balanced Scorecard: For measuring performance against key strategic goals.

5.4 Develop Strategic Options

Brainstorm different approaches to achieve your objectives. Develop short-term and long-term strategies, considering both internal capabilities and external opportunities.

5.5 Analyze and Recommend

Once you have developed several strategic options, analyze each one’s feasibility and potential impact. Make recommendations based on solid data and sound strategic principles.

Published by Lisa