Strategic planning 30/08/2013 Many clients ask me why is it so important to have a strategic plan and what are the real world benefits? Depending on your business’s age many businesses were successful because they had a good presence in a market that didn’t have as much competition. Like in most markets there was an always direct competitor, however there was enough business to go around so that everybody could prosper. But things have changed. There are more companies providing more of an end to end solution and we are now in working in a global marketplace. At an unprecedented pace, there has been such a large amount of rapid changes in a variety of industries, so much so that some of these industries don’t exist anymore and many products and services are now well past their used by date. Because we are now working in a global business environment distance and time are much less relevant because of the growth in the Information technology sector and the Internet. Strategic planning is why big companies prosper. It’s why they are aggressive with strategic acquisitions, policies to gain market share and performance KPI’s in able to keep them on track. They are constantly looking ahead and anticipating change, but most importantly they are constantly developing a strategy to be proactive to ensure success in the industry in which they play. Any business that does not have a strategic plan will drift, will be reactive, lose great talent and lose market share. They might even be part of an industry that was once a great but did not have an effective strategic plan to navigate bad times. Business owners and managers need to create a strategic, achievable vision that is tied back to company values, goals and continuous people and product development. Learn what the global economy has recently taught us. All organisations must accept that yesterday’s success does not ensure success in the future. So why should your company do this? I believe quite simply your growing or you’re dying, so think of a well researched and implemented strategic plan like water for a tree, without water it will die. Having a strategic plan will assist you in looking for new business values and business goals, changing employee behaviours, effective measurement of a variety of business matrix, implementing new processes and procedures, drive effective product development, recruit more effectively for required skill set so you can deliver on the strategic plan. It will allow you to focus on real accountability and be more proactive on important activities. It will lead to an increase in better decision making, increased staff energy, competitive advantage, customer loyalty and satisfaction, better end to end solutions through process and procedure, increased capacity and market envy and recognition as a leader in your chosen space. If you would like meet with Yolk Agency to discuss building a strategic plan to drive future growth and profitability for your company please don’t hesitate to get in contact with us!
Posted on: Fri, 30 Aug 2013 07:02:26 +0000
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