Developing a strategic profile: the pre‐planning phase of strategic management

Purpose – The purpose of this article is to assist strategic planners and managers in developing and utilizing a strategic profile of the firm in order to conduct a SWOT analysis and therein apply its results appropriately. Design/methodology/approach – How are the objectives achieved? This objective is achieved by developing a seven‐step procedure, with templates that assist planners and managers in creating a strategic profile of the firm and then utilizing that profile as a filtering mechanism for a SWOT analysis. The article covers the topics of competitive approach, competitive strategy, organizational structure, leadership, and organizational culture. Findings – The profile may not only be employed as a method for centering a firm's strategic planning and implementation, it may also be used for creating a competitive profile of the firm's competitors. Practical implications – The practical implications of the article indicate the need to attach a pre‐planning stage to the typical strategic management process of a firm. This action will lead to the creation of a preliminary strategic profile of the firm. This profile is used to produce a more accurate SWOT analysis with a greater likelihood of successful strategy implementation. Originality/value – The value of this article is that it introduces a pre‐planning stage to the traditional strategic management process. This stage creates a strategic profile of the firm which managers and strategic planners can use for two purposes: producing a more accurate SWOT analysis with a greater likelihood of successful strategy implementation; and creating a strategic profile of their competitors.