As CEO of apparel-resale website thredUP, Reinhart has mastered the business pivot. Since co-founding the company in 2009, he has seen thredUP through two major strategy changes to become the million-member fashion e-commerce site it is today. The only way Reinhart was able to guide the startup through these changes was to continually evaluate internal and external factors affecting his business, and remain flexible enough to adapt to them.
What are the five 5 different phases of strategy?
- Determine your strategic position.
- Prioritize your objectives.
- Develop a strategic plan.
- Execute and manage your plan.
- Review and revise the plan.
Hence, in addition to selling soap in retail stores, the company could package the soap in larger containers for factory and plant workers. A growth strategy entails introducing new products or adding new features to existing products. Sometimes, a small company may be forced to modify or increase its product line …