Management: Strategy Suite
A set of articles providing a broad overview of management and business strategy.
TIP: 3 Steps To Forming a Good Business Strategy
Good strategy should distinguish the business from others in ways that make a difference to customers. Here are three simple steps in developing a distinctive strategy:
understand the company’s genuine strengths (particularly those spanning multiple functions),
examine the marketplace to understand what gaps there are in the market,
focus the company’s strategies on bringing its real strengths to bear in capturing those unoccupied strategic positions.
- Smock Sterling
Articles
Statistics show that up to 80% of business failures could have been avoided if they had developed and used a proper business plan. Research also shows that businesses that properly plan are significantly more likely to be more profitable and to achieve greater growth.
Running a business without a plan is like going on a trip without a map, sufficient gas, money, or even a destination. Just as you wouldn't go on a vacation without some planning, no business can be successful without it.
This is the final in our 3 part series on business plans. In Part 1 we examined the need for a business plan and listed the business plan core components. In part 2 we examined in detail the components of the plan. In this issue we review how all these components can be brought together to provide a practical framework for your business.
What better time to update your business direction and set a fresh path than now?
You have a choice in business, as in life. Either you can create your own destiny or you can watch it unfold, and perhaps look back and wonder what happened and why.
We now move on to the most important part: Turning the plan into action so that you actually achieve the success that you have mapped out for yourself.
For the successful implementation of your strategic plan, you need 10 essential ingredients
Achieving excellence in your organisation may seem out of reach, especially if you are of modest size and disposition. Actually, it may be a lot easier than you think to lift your game. When you do a job, it makes sense to do it properly and this certainly applies to running your organisation. This article will help you to assess how you rate but it will also help you to set your sites high and to move in the right direction.
Harvard business school professor, Robert Simons, argues that to stay ahead of the pack, you must translate your competitive strategy into day-to-day actions that will enable your company to win in the marketplace. His new book, Seven Strategy Questions: A Simple Approach for Better Execution sets out the key questions you must be asking yourself as you look towards the future and rejuvenate your business strategy.
Harvard business school professor, Robert Simons, argues that to stay ahead of the pack, you must translate your competitive strategy into day-to-day actions that will enable your company to win in the marketplace. His new book, Seven Strategy Questions: A Simple Approach for Better Execution sets out the key questions you must be asking yourself as you look towards the future and rejuvenate your business strategy.
Reignite the Passion