Strategic policy is a process of goal-searching for a company. What goals does this company want to reach on the long term? In reality, a pro-active attitude of the management is rarely encountered, although the chance of encountering such an attitude increases as the environment (economic, technological or sociopolitical) becomes more complex. The dynamic nature of such a complex environment forces the company to think an rethink the goals that should be set.

There are two main approaches that a company can implement in developing a strategic policy that is a good fit for its position on the market.

1. Positioning Approach

As the name indicates, the positioning approach mainly concerns itself with the position of the company on the market. Subsequently the environment is carefully assessed for opportunities and threats, while the internal organization is investigated on strengths and weaknesses (in general through a SWOT analysis: Strengths, Weaknesses, Opportunities and Threats). Based on the results of this, strategic alternatives are generated. In light of environmental developments, internal factors and the formulated goals, the best alternative is chosen.

This approach strongly emphasizes the attainable: goals are not set too high, but at a manageable distance. The analysis is strongly aimed at the comparison and careful watching of the competition.

2. Resource-Based Approach

In contrast to the positioning approach, the resource-based approach, looks out from the inside: the strategy is determined based on the available resources. This approach focuses on the desire to be unique and create a market, rather than fit in an already existing market. It is not surprising that this approach is often used by companies that find themselves in a very dynamic environment, since , in such case, it is not sufficient to follow the market, as unique opportunities will pass by. In cases such as this, it is important to follow a course where a company develops what it is good in and what sets it apart from other companies.

This approach sets goals deliberately high and emphasizes ambition and innovation.

Spontaneous Strategies

It is important to notice that these approaches are rarely followed as consciously and rationally as they are presented above. This approaches are mostly determined in hindsight, as a string of decisions that were made by a company, tends to follow a certain pattern, based on the market, society, technology, the political climate and so on. For this reason, these approaches are sometimes referred to as ‘spontaneous strategies’.