Strategy is about making sure that your business arrives where you want it to at a given time. As a manager, you need to know what good strategy looks like and understand how it can be used to create the future for your team or organization.
When you map out your business strategy you are creating a future that may be two, three, five, or more years ahead. It's not just the plan itself that has value, but all the thinking that goes into it. the questions you ask yourself, and the answers that come forward.
No organization can stand still. At the very least, the costs of running a business will increase year on year; prices of raw materials will rise, staff will expect higher wages, and rent will go up. This means that you must increase your output every year. And in time, you will inevitably reach a point where you cannot increase sales further in your current situation. At this point you will need to make a bigger change; this is the time to change your strategy. Strategies exist at many levels, from those that move the whole business forward to those that develop the individuals working within it.
ACTION POINT: Plan for change and keep moving to prepare your business for the future.
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