Save Me, Strategy

Posted by on Apr 17, 2014 in Insights

Save me!  Nothing could be more terrifying in business than to see green turn to red, sales slipping, best employees resigning, and investors threatening to take action.  We read about companies that were once high growth and well-respected who are filing for Chapter 11 or are under attack by activist investors. Why companies go into decline or fail range from being a victim of the economy, to technological obsolescence, to out of control costs due to new government regulations.  In hindsight, CEO’s who are honest with themselves will be able to pinpoint where a different decision might have changed the outcome. How do you ensure that your company makes the right decisions and moves to stay competitive and growing in your market or industry? The answer is simply to develop a complete strategic plan, ensure the leadership team has goals, metrics and tactics aligned to the plan, and review the plan annually.  Yes, a simple formula that not only hedges your company against failure, but sets the course for continued growth and profitability. If strategy is so important, and the answer is so simple, why do companies continue to go into decline or fail? The strategy must be right. Yes, there had to be a catch!  How do I...

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