Why do I need a business strategy?
I get asked this question often. My response below:
🗣Global economies are rapidly changing, and so too is the speed of innovation and technology
development. Whichever companies can harness and implement those changes the fastest, will create an advantage in marketshare which may be hard for competitors to re- capture
🗣 As businesses realize that their organizational goals encompass more than profits and resource management, it would be in their TOP interest to become more concerned with the triple bottom line, 1. underlying societal problems, 2. Consumer interest & 3. Innovation wave along with other targets contributing/ impacting their existence.
🗣 business strategy is becoming more valuable in the marketplace as skills used to manage these organizations and creating the direction for the future will require management teams who understand how the business strategy and vision ties into the long term success of the company. This is where comprehending the importance of emotional intelligence is vital as a leader!
🗣 If you are going to run a successful business, you need to understand what's going on both within and beyond your competitive environment. You need to be quick to adapt to these shifts and changes by creating organizational structures that support all levels of your organization to implement changes that align with your strategic goals .
🗣 To implement a successful business strategy you and your team need to be willing and prepared to adapt to changes that are in line with your organizational goals. If you don't have any organizational goals yet, it's not too late to get started!
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