It was 1980 and the U.S. had crowned Donald Trump as a hero of business, turning real estate into gold. Trump had a net worth of $1.5 billion. However, a lack of corporate strategy was about to shake-up the Trump empire.
In 1988, Trump paid £365 million for the Eastern Air Shuttle. During the airline’s reign, its identity was passed from a no-fuss service to a one with maple-wood veneers and gold-plated features. A poorly strategized gamble that confused the brand’s identity. The lack of strategic direction meant Trump no longer held the Trump card, and his net worth plummeted along with the airline.
Worryingly, Trump’s failure to meet his organization’s objectives is a common occurrence in business, with only 2% of leaders stating they feel they will achieve 80-100% of their pre-set strategic objectives.
This is where Process Street comes to your aid.
This post will teach you what corporate strategy is, why it is important, and how you can implement an effective strategy for your business today – with access to our top free template resources. Check out our Strategic Planning Template below for a quick taster.
Click on the relevant subheader below to be directed to that section of this post. Alternatively, scroll down to read all about corporate strategy.
- What is corporate strategy?
- The benefits of corporate strategy
- Corporate strategy process
- Using Process Street to implement the corporate strategy process
Let’s get started!