When developing or formulating the business strategies you need to do following:

1. SWOT analysis first, i.e. analysing the internal and external environments.
2. When you do the SWOT analysis you need to perform essential business roles like brainstorming, creative and critical thinking, use the delphi techniques, etc.

The next step is to implement the strategies. Implementation of the strategies is at three levels:

1. Strategic level
2. Tactical level and
3. Operational level

The last step is evaluation of the strategies.