At every stage of the life cycle of your business, a business strategy is crucial to its success. Strategic plans help us to link vision and delivery. You know where you want to take your company, but due to the changing nature of the business environment and the economy, implementing those plans can become a challenge.The Redefine team will work with you to review your existing goals for the business, identify where you may have deviated from the plan, analyse the reasons, and help you take the necessary actions to get back on track for long term success.
What is Business Strategy?
Business Strategy is the path you choose to achieve your long-term goals. Every organisation has to figure out what it wants to achieve and how it will make it happen with its products, customers, and operations.Strategic plans need to be specific about the outcomes required. Programmes need to translate this into the inputs and outputs needed to achieve these.Key points to remember in strategic management are that:
- It must be clearly communicated and understood, organisation-wide.
- Fundamentally, the objectives of key stakeholders are delivered.
- It has long-term implications.
- It incorporates measurable goals and targets – especially financial targets (SMART).
- It includes a prioritised set of delivery projects, each with a business justification.
Our Business Strategy Five-Point Plan
In our experience, some of our clients’ strategic planning processes are great, and this is reflected in their success. Where problems are found, they can often be traced to one of the following key components being missing:
- Key Issues Analysis – Where do we stand now?
- Vision, Mission, Goals & Targets – What do we want to be?
- Processes & Excellence – What will it be like then?
- Initiative Development – What are we going to do?
- Delivery Planning – When and how do we do it?
We work closely with your management team on all five points and devise and implement an appropriate business strategy for you. We also facilitate commitment to the plan and engagement with it.
Whether driven by your customers, Covid-19 impacts or other external factors, all businesses can benefit from Digital Innovation. Digitalisation Projects can fall under Lean Start, Plus or Transform guided by the principles of
- Customer value stream analysis, value creation and removal of waste
- Focus on measurement and data-driven insights and decision making
- Creating an innovation culture engaging all staff in continuous improvement
- Openness to working with tools and technologies that improve ways of working
Projects can include adding e-commerce capability, automating repetitive tasks, improving customer experience or service, using productivity tools and adapting processes supported by an enterprise or cloud-based financial packages, CRM or ERP tools.
As with all Change Projects, we will work with you on Technology needs gathering and selection, redefining your Workflows, changing Behaviours and measuring Performance.
Redefine will help you turn your strategy into action
Talk to us to find out how we can work with you on creating the right Business Strategy for you, whether you’re a start-up or an established business in need of an innovative focus.