🔊 I often get asked about the purpose of a strategy – Why is it needed
My simple answer to that is If you don’t have a strategy you are leaving your business to chance!
Yes you can try fly by the seat of your pants but you sure will be flying. Flying all over the place
The business world is changing so fast at the very least you must keep up with the rate of change, if not exceed it
To be honest.. If you truly want to succeed with business. You must think and act strategically and not just business. This is relevant for middle and senior management too and while there are many reasons to build a strong strategy
The 3 I live by are as follows
🛡PROTECTION🛡
This is by the far the most important reason to build a strategy
✅Protect your business from competition
✅Protect your business from fluid trading economies
✅Protect your customers
✅Protect your future customers
✅Protect your people
✅Protect against change and disruption
✅Protect against becoming obsolete
Protect everything like an army would protect a fort and the people in side
🚀GROWTH🚀
I often say, if you are not moving forward, you are moving backwards. Your goal should be to scale your business and you need to have a strategy to show how and where this is feasible. This is a great way to protect your business from becoming obsolete
🌀CHANGE🌀
Change and disruption is happening in every sector, it’s the only constant. So building a business or operating model flexible and adaptable to change is crucial in this new business world. Change can be both and opportunity and a threat, be ready for both. So understanding this change through strategy development again is a great mechanism to protect your business for now and the future
What reasons do you build a strategy for❓
If you have any questions, get in touch
#futurestateacademy #systemsthinking #business #problemsolving #continuousimrpovement #keepmovingforward
#opportunity #people #management #future #change #strategy #growth
