2020 was the year many of us could never have anticipated. The pandemic left nothing untouched, including how business was conducted. To meet the changing climate, a majority of companies shifted to a remote workplace and when it first began morale was high. Companies were reporting an increase in production, employees were enjoying the flexibility,…
When it comes to business performance, there are several variables involved. It isn’t just one matrix or the CEO, but these three primary factors: planning, data and people. These factors, and why they matter, are described in greater detail below. Planning First, you have to have a plan in place. If you don’t…
Strategic planning can be a complex process. It can take some time for your executive leadership team to review the company’s objectives, and then state what is needed to achieve those objectives. While this process and your strategy may take a little time, the way you communicate your strategic plan to your employees doesn’t have…
Perhaps you’ve heard the popular saying, “you need to spend more time on the business, rather than in the business?” This saying lends itself to strategic planning because an offsite strategic planning session is one of the most valuable ways to spend your time on your business. Dedicating a one or two day session to…
Strategic planning is not just an exercise, or something to do because others value the process; rather, strategic planning is the means to success. A number of quantifiable studies have been conducted in recent years, which has validated that a comprehensive strategic plan effects quality performance in heightened operating ratios, increased market share and an…
Here’s what we know about today’s business climate: change is constant. Given this fact, then it’s imperative that our business strategies also change. But how do you know when you need to make strategic changes? Changes come in all forms, such as: Changes to your organizational structure; Internal or external environmental factors; Expectations from stakeholders;…
Making strategic changes for your business is inevitable. This is true for a number of reasons. Perhaps you’re looking to revamp your strategic business plan due to profitable growth. Essentially, you’ve outgrown your current strategy and need your business plan to reflect those changes. Conversely, you may need to make strategic changes because your industry…