The creation of business strategies is a skill that Bilal Basrai is very adept at, and something that he uses for all of his clients. A business strategy is a document that outlines the direction a business is going to take, highlighting the steps it needs to get to a final set of company goals.
A business strategy is a key ingredient to a business plan. To develop a workable business strategy, Basrai must help corporations through analysis, integration, and implementation.
The analysis phase of business strategy building is one of the most important. Before an advisor can determine where a company is going, they must understand where they are currently. This means that the current market must be examined, the resources must be understood, and any potential obstacles need to be identified.
When all of these factors are looked into in context with each other, it is easier to understand where the company can go and what future troubles they may face. Often, gaming scenarios are put in place to examine how the business will fair against their competitors.
Integration begins with the creation of a mission statement that is based on the vision of the company owners. The mission statement, which is usually concise, sets goals for the output of the company. These goals can be financial, social, or both. The vision and mission of the company is then integrated into the working business model. Bilal Basrai says this is best accomplished through education of staff and managers.