Strategic Formulation plan for Nucor; topic of formulating strategy Custom Essay

Module 3 will be devoted to the topic of formulating strategy. I will provide you with industry and business factors that must be taken into account as you formulate your strategic recommendations for your company. Remember that your strategy should be with a view to the longer-term (4+ years) as opposed to the shorter-term (1-3 years). Your recommended initiatives should make your company successful and thriving 5 years from now.

The factors that I will offer for your consideration (while formulating strategy) have to do with:

industry-market considerations;
industry position of your firm;
business models, and;
the predisposition/activity of your business.

Based on your identification of the key strategic issues facing your company (resulting from your external and internal analyses) you will propose initiatives that address those strategic issues. You will also need to anticipate your rivals’ reactions to your strategy and propose a contingency plan that addresses your rivals’ reactions.

Your complete strategy project will be due on the last day of this course (Day 42). A required outline for your project has been provided