Strategic Management. Not the most exciting way to kick off a business article and an area that many, many business and business owners like to ignore.
From the one person, home based business through to massive international corporations there is practically an epidemic of people failing to undertake genuine strategic management of their business.
So it’s no surprise that the most recent ASIC report on corporate insolvencies tells us that “poor strategic management” was cited by 42% of businesses as a reason for their failure.
Just to clarify here…we don’t just mean that the business was poorly run or managed. This is not day to day operations, this is big picture, what’s our vision, where are we going and how are going to get there stuff.
So 42% of failed businesses, which were probably run by people just like you and I, people who loved what they do and worked hard at it, failed because they didn’t stop and really work out a map for the future success of their business.
So how is the strategic management in your business??? When was the last time your management team got out of the office and really refined your strategy??? Then, most importantly, did you come back to the office and implement changes to follow that strategy?
Not giving the answers you’d like? So how do you fix it?
If your answers to last few questions aren’t what you would like them to be – don’t worry, it’s never too late to get things on track.
Some quick tips we recommend:
Don’t wait, get help!
This epidemic of poor or non-existent strategic management is one of the reasons that I am so committed to working with clients on their strategy as well as their day to day financial position.
If you need help with your Strategic Management then Clear Vision is here to help.
We have a range of services and programs that assist businesses in this area.
The post Business by Design Part 3: It’s hard to find success without a map appeared first on Clear Vision Accountancy Group.
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