A Business Strategy: So What, Who Needs It?

As you go about your day & your business , do you just haphazardly move through your business or projects without a strategic plan? Are you struggling with the implementation aspect?header_crm_ondemand

Every business or project needs a strategic plan & that plan needs implementation.  When you have a plan you set the needed course for yourself & your business.  But without implementation it’s going nowhere.

So therefore, your business or projects are stagnate, just stuck there not moving forward , no progress, just nothing, the same old, same old.

There are a lot of different types of business strategies and when you have the best strategy for your business it becomes the foundation for the course that you need to take to improve on your business or projects. A solid strategy can guide you in the right direction & keep you on the path to progress or success.

In this ever changing business world, there is a high need to stay competitive,  create longevity & develop innovative business strategies.

Well, What Is A Business Strategy?

Strategy is a lot of things rolled into one such as the art, science and craft of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives.

The process of specifying the organization’s mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs.

The whole concept of strategy was borrowed from the military and adapted for business use, such as bridging the gap between policy and tactics. When you have that; your strategy & tactics bridge the gap between the ends and the means.

Effective strategic management enables a company to move quickly in response to new challenges & outmoded ideas. You have got to be innovative & creative with your business strategy, in order to have a competitive advantage.  Along with that you have to have more than a strategy, you HAVE TO HAVE IMPLEMENTATION. Meaning that your strategy must have direction & a destination.

Businesses that have already taken hold on innovative strategies can buckle down, leap ahead and create multi-year growth gaps over the competition. You can use current conditions to accelerate your efforts to truly change at the pace of the market without losing control. Use the present economic climate to look at business activities that have passed their sell-by date and dispassionately discontinue them.

By being optimistic, innovative & strategic you can see a silver lining amid today’s economic conditions & benefit from making strategic moves that build on your unique advantages. In the field of business administration it is useful to talk about “strategic alignment” between the organization and its environment or “strategic consistency”.

Strategic management is the highest level of managerial activity. According to Arieu (2007), “there is strategic consistency when the actions of an organization are consistent with the expectations of management, and these in turn are with the market and the context.”

Strategy is execution. If our strategy & execution are both flawed, the effort is “doomed from the beginning.” The chances of success are zero, slim to none. If the strategy is sound but its execution is flawed, then it’s known as a “botched job.”  Then it’s back to the drawing board.

In one instance, you can be doing something very well that you shouldn’t be doing at all, that is to say having a FLAWED strategy but a FLAWLESS execution. That’s flirting with disaster. For example, an organization with little in the way of competition and believing its products to be seriously under-priced in relation to their value, might elect to raise prices as a way of testing price sensitivity. Only to discover that very strong price sensitivity was there all along. The result is a sudden & unexpected loss in volume & revenue.

It’s only when you have a sound strategy AND execution, you have a better chance of success.

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Clerical Business Solutions~http://www.clericalsolutionsinc.net

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