Having a clear vision of what you want your company to achieve and how it is going to exploit its plan is the last major key to growing a company successfully. Incremental changes are safer to make, of course, but will rarely produce the rapid growth that a daring strategy can.
Strategy has become an often-used word that is applied to many circumstances and areas of business. There are strategies for sales, technology, marketing, HR, and the list goes on and on. As a strategist I actually welcome this, however, it seems that its constant use has somewhat changed its meaning over the years.
The question you have to ask yourself today is, am I prepared for the future? Hopefully the answer is yes because the business world is becoming increasingly harsher and less forgiving to even the best-known companies.
A smart strategy will provide you with the basis for a sound strategic plan that can lead to significant growth. If your organization is going to survive the many market changes and fierce competition it faces, you need to plan and manage with the clearest path from Point A to Point B you can muster.
Research shows that approximately 90 percent of all U.S. businesses lack a formal strategic plan and of those organizations with them, only 10 percent say they fully implement it throughout their organization. So if you and your organization find yourself in the majority you should consider asking yourself the following.
A great strategy is something that needs to be worked on every single day by many different individuals in a corporation. It is no longer the domain of corner offices. It’s definitely worth the effort since corporations that are driven by a strong strategy usually outperform those without one.