The next strategy stages, as per Richard Rumelt's insights, should follow these steps:
1. Diagnosis: Identify and understand the problem or challenge your business is facing. This could be a decrease in sales, increased competition, or a change in market trends.
2. Guiding Policy: Develop a policy that will guide your actions to address the diagnosed problem. This policy should be in line with your business goals and values.
3. Coherent Actions: Design a set of actions that are coherent and aligned with your guiding policy. These actions should be practical, achievable, and measurable.
Remember, each stage should be treated with care to avoid a bad strategy. If a stage is not well thought out, it could lead to ineffective results.
Even some of the world’s biggest organizations do strategy poorly, and incorrectly credit their succ...
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