Deciding and drawing up the company’s strategy is essential for a transformation project. It must be done for a specified period. I recommend three years, because in a world as changing as the current one, and more so if we refer to the industrial sector, doing it for longer carries a high risk of making mistakes.
There may be exceptions to the above rule. This is the case of oligopolistic markets, with few players and a dominant position. In these cases, a longer term vision, for example, five years, is possible and realistic. But there are not many cases, and even less that these are subject to transformation processes, which is what all this is about.
There are several methodologies for making a strategy. The one presented here is, once again, the fruit of my experience. It does not require a large amount of writing, nor highly sophisticated processes, but is based on logical questions and, yes, answers that are as precise as possible.