If you survived your first night, chances are your hemorrhage is under control. 1  Continue to drink. A lot. 2  Inspect thoroughly. Remove articles of clothing to do so. 3  Thoroughly clean the wound (this is the most important step). Clean water is best, but anything should be fine.  Donât attempt to suture close any open wounds.
For each strategic option, ask yourself how you could use that strategy to: 1  Reduce or manage supplier power. 2  Reduce or manage buyer/customer power. 3  Come out on top of the competitive rivalry. 4  Reduce or eliminate the threat of substitution. 5  Reduce or eliminate the threat of new entry.
Strategy Defines Action. As critical as business planning is to the success of your company, all plans are useless unless followed by action. An additional side benefit of strategic planning is the natural action plan that stems from identifying your preferred strategy. While strategic planning involves your vision, mission and dreams, it also further defines the rudiments of your action plan to achieve the results you want.