Monday, September 30, 2013
How Efforts At Strategic Insight Keeps Businesses Competitive
By Paulette Short
The one outstanding characteristic of the modern world is the fact that things changes quickly, unexpectedly and that such changes can easily bring about vast changes in the way business is conducted. It is therefore in the interest of all organizations to be aware of changes that are likely to occur. Strategic insight allows companies to react in time and to take advantage of changes within their operating environments.
Strategies need to be developed to remain relevant, competitive and to thrive in a fast changing world. Such plans are broad in their scope rather than narrow, specific objectives that need to be achieved on a day to day basis. In order to develop long term strategies it is necessary to study the various environments that have an impact upon the operation of the organization.
The problem faced by most organizations is the enormous pace of change. In addition, many changes simply cannot be foreseen but it is still necessary to devise long range plans that will enable to organization to survive and to thrive. For example, regional conflict that has a decided impact upon the financial markets is almost impossible to predict. Yet, businesses must remain ready to react the very moment that change occurs.
The very purpose of strategic planning is to turn change into opportunity. This requires a close study of political developments, trends in the global markets, new technological advances and even social developments. The secret is to devise ways in which to take advantage of those developments rather than to react in a defensive manner. Change should be seen as an opportunity rather than a threat.
Many organizations fail in developing effective long term strategies simply because they are unable to be honest in identifying their own weaknesses and strengths realistically. Weaknesses need to be identified before plans can be made to overcome them and strengths need to be listed in order to allow the business to take advantage of the fact. Foreseen change can, of course, lead to new weaknesses and strengths.
Long term strategies need to be translated into more specific action plans. That is why most organizations have systems in place where broad strategies are given to individual business units who then has the task to translate those strategies into specific action plans that makes provision for the allocation of resources. Eventually, those plans filter through to teams that need to formulate exact objectives that will contribute towards the overall strategy.
Without a strategy to make provision for environmental changes no business can hope to survive in the long term. It requires specialist knowledge to correctly interpret trends but money spent in this way inevitably allows organizations to thrive. This is because they are made ready to embrace change and to use it to their own advantage. However, strategies need to be as realistic as possible and they need to be based upon as many facts as possible.
Gaining strategic insight is complex and often inaccurate. Yet every organization needs to develop within the environmental flux if they hope to survive. Change is constant and it need not be seen as a threat. Most successful companies have demonstrated the ability to turn change into fortune.
Strategies need to be developed to remain relevant, competitive and to thrive in a fast changing world. Such plans are broad in their scope rather than narrow, specific objectives that need to be achieved on a day to day basis. In order to develop long term strategies it is necessary to study the various environments that have an impact upon the operation of the organization.
The problem faced by most organizations is the enormous pace of change. In addition, many changes simply cannot be foreseen but it is still necessary to devise long range plans that will enable to organization to survive and to thrive. For example, regional conflict that has a decided impact upon the financial markets is almost impossible to predict. Yet, businesses must remain ready to react the very moment that change occurs.
The very purpose of strategic planning is to turn change into opportunity. This requires a close study of political developments, trends in the global markets, new technological advances and even social developments. The secret is to devise ways in which to take advantage of those developments rather than to react in a defensive manner. Change should be seen as an opportunity rather than a threat.
Many organizations fail in developing effective long term strategies simply because they are unable to be honest in identifying their own weaknesses and strengths realistically. Weaknesses need to be identified before plans can be made to overcome them and strengths need to be listed in order to allow the business to take advantage of the fact. Foreseen change can, of course, lead to new weaknesses and strengths.
Long term strategies need to be translated into more specific action plans. That is why most organizations have systems in place where broad strategies are given to individual business units who then has the task to translate those strategies into specific action plans that makes provision for the allocation of resources. Eventually, those plans filter through to teams that need to formulate exact objectives that will contribute towards the overall strategy.
Without a strategy to make provision for environmental changes no business can hope to survive in the long term. It requires specialist knowledge to correctly interpret trends but money spent in this way inevitably allows organizations to thrive. This is because they are made ready to embrace change and to use it to their own advantage. However, strategies need to be as realistic as possible and they need to be based upon as many facts as possible.
Gaining strategic insight is complex and often inaccurate. Yet every organization needs to develop within the environmental flux if they hope to survive. Change is constant and it need not be seen as a threat. Most successful companies have demonstrated the ability to turn change into fortune.
About the Author:
If you would like to learn how strategic insight can help your business click www.qdistrategies.com. QDI Marketing Consultants use a proven "discovery research process" including voice of the customer, and more details are available today at http://www.qdistrategies.com.
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