Near, Medium and Long Term Action Ideas

Evaluate growth opportunities and cost-reduction strategies.

Confronting the new economic environment requires planning and action across the near, medium and long term future.  Some ideas to consider include:

• Near Term(1-12 Months)  - Reinforce key customer and supplier relationships.  Review, revise and confirm your business strategy with each partner and discuss growth opportunities.
• Medium Term - (12 - 36 Months) - Take stock of your overall business strategy.  Revisit core elements and assess and prioritize required capabilities.  Reflect on what has and has not worked, and understand the reasons why.
• Longer Term (Beyond the next 36 months) - Evaluate growth opportunities and cost-reduction strategies.

ACTION POINT: The goal should be a continuous reinvention of the business with a focus on retaining and developing the differentiating and value-adding activities at the core.