Are you a fan of those BIG strategic reports? You know… the ones that never get read, gather cobwebs at the back of your filing cabinet or get used to keep the door to your office propped open. You will…
Originalmente publicado en Innovation at Work:
The Culture of Innovation Hope you all had a great summer (in the northern hemisphere) and peaceful winter down below! Can’t believe that it is already October! Before I took off for summer, I…
By Taman H. Powell and Duncan N. AngwinBy understanding how the duties of the chief strategy officer (CSO) can vary significantly from organization to organization, boards and CEOs can make better decisions about which type of CSO is necessary for…
http://ezinearticles.com No matter what kind of business you are currently running, you surely understand the importance of reviewing and auditing its financial performance and all types of documents that contain this valuable info. Well, there is no doubt about the…
4. Financial Strategy
Financial strategy is important for business growth or expansion. Many companies do not have the funds in the beginning to promote growth within the business, but continue to grow at an exponential rate. This is because the company has a well-planned financial strategy.
A successful business will have a number of investors, but it cannot depend upon them for expansion. The financial strategy details earned income, the number of investors, and reserve funds.
5. Operational Strategy
Operational strategy includes a set of tactics aimed at creating higher profits while lowering production costs. This can include purchasing and installing better manufacturing equipment and the best technology such as computers, software, and hardware. It may also include opening a location close to the target audience or obtaining products from a less expensive source.
The internet is an excellent resource to plan and implement aspects of all of these strategies. It is one of, if not the, best tools for businesses today. Companies are able to research target consumers and competitors on the internet quickly and efficiently. Social media forums are one of the best methods for this research, marketing and advertising products, and attracting new investors.
Magnetic Look works with small to medium size businesses who are looking to improve their positioning on the market and increase their profits. Our programs and services are designed to strategically deliver the results you need in order to succeed. If you need help creating systems and strategies for your small business brand that are easy to implement and bring you desired results fast, we’d love to hear from you. Learn how we can help you and request your quote here.
Continuing my quest to surface some classics that the Innovation Excellence audience will have never seen, here is another from 2007:
I would like to introduce a visual metaphor that the consultants use at Business Strategy Innovation. It’s called, predictably enough, the Business Strategy Innovation Diamond, or the BSID. There is another reason we use it, to “ID” the “BS” in an organization. Now a lot of people would represent strategy as the top of a pyramid, processes in the middle, and systems as the base of a pyramid, but that ignores two of the most important tools in any organization – policies and reporting. Business Strategy Innovation instead starts with a diamond that looks like this: The BSID focuses your organization on making sure that the policies support the strategy, that the processes facilitate the policies, that the systems enable the processes, and the reporting measures the execution of the strategy. Not focusing on the BSID, may result in just BS instead of strategic innovation.
1. BUSINESS TECHNOLOGY
Clouds, big data, and smart assets: Ten tech-enabled business trends to watch
Advancing technologies and their swift adoption are upending traditional business models. Senior executives need to think strategically about how to prepare their organizations for the challenging new environment. In a set of accompanying podcasts, leading experts offer their views on how these trends will evolve and change business models.
Why good bosses tune in to their people
Know how to project power, counsels Stanford management professor Bob Sutton, since those you lead need to believe you have it for it to be effective. And to lock in your team’s loyalty, boldly defend their backs.
Global forces: An introduction
Five crucibles of change will restructure the world economy for the foreseeable future. Companies that understand them will stand the best chance of shaping it. In a related video commentary, McKinsey director Peter Bisson discusses the importance of spotting trends and building them into corporate strategy.
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