Business Strategy
business strategy
Heaven can wait – but its business strategy can not
Copyright (c) 2008 Curtis Bingham
The delay can be painful. When I realized recently that light flashes on the dashboard of my car told me it was time to service my brakes, I thought it might be tomorrow. Tomorrow became the next month … and then the horrible noise you could hear the rear brakes. When he finally managed to repair, ended up paying more than four times what it had taken the car in the first warning.
Business leaders often delays in the establishment or update your business strategy. refining strategy is heavy because we have to recognize that the objectives have not been met, or activities that fell on the road. Sometimes it is difficult to tear yourself away from practical problems, the hand immediately. For Many busy executives, it seems impossible to take time away from a busy schedule full of fire crisis internal customers, providing customers, and closing new companies. But what are the consequences of not getting off the train at the vertical tail and spend time preparing for the future?
1. Customers are tired of poor service and do their business elsewhere. I hope you do not have some of their other customers with them.
2. You are so busy servicing existing customers who lack the ability to attract new customers, growth retardation
3. Without new customers, you have no way to compensate for the inevitable customer churn
4. Your employees are ineffective at best and the worst start to burn and go. What would it cost if 50% of its employees were ineffective 10% of the time? For the 200 employees, it is possible that the loss of at least 1.5 million dollars each year!
5. Your competitors are passing
6. Worst of all, you suffer from exhaustion.
Delay the development of the strategy may be a short-term strategy itself well, but it is ineffective. Unfortunately, the band is continuous function, which carries with it, until you choose to download and reset.
For your business to succeed, you need to spend time each year to evaluate and update its long-term strategy. In addition, we also need to set aside more small amount of time each month to test and refine. To ensure they are regularly assess and refine its strategy, provides as customers, competitors or the market does not leave behind.
The time allocated for the strategy should be sacred, if not, to put it out my brakes until the penalty is much greater than prevention. December is usually a good time to evaluate its business strategy, because many customers are not available. Set the time and "Just Do It!"
About the Author
Curtis N. Bingham is the President of the Predictive Consulting Group. He helps organizations dramatically increase customer acquisition, retention, and profitability. If you would like to learn more about customer strategy or Chief Customer Officers, visit ttp://www.predictiveconsulting.com or http://www.curtisbingham.com
Does anyone have an idea for an interesting research topic to do with corporate strategy?
Recently, I was told to change my thesis in my research area is wide. Now I'm looking to do a project on business strategy, but I can not think of anything specific. Anyone have any idea Companys or industries that have interesting business strategies? Any help will be greatly appreciated. Thank you
JIT Just in inventory approach to time that Wal-Mart makes millions of people. Reduce the cost inventory, storage time, if you have the right of a supplier, never runs out of product. its almost impossible for everyone, but if you can do meaningful work. look, is one of the things I found most interesting in business only because it is one that can not or little
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