Does your business have a GPS?

Does your business have a GPS?

By Karthik Siva

gex-strategy

Photo by JESHOOTS.COM on Unsplash

A business without a clear strategy is like a car without GPS, it is a sure-fire recipe for failure. Here are reasons why strategy is vital for any business.

A clear strategy puts a business in control so that it can lead rather than follow the market. In other words, it enables a company to create the future rather than react or adapt to it.

Strategy helps a business have a clear direction. When a business has no focus, it generates a lot of activities without meaningful results and it has no sense of priorities – in terms of what it needs to do and what it should not be doing.

In a business world that is changing incredibly fast, where even the future of business is uncertain, where customers are fickle, where competitors are desperate, the only reliable way to win in the market place is through sound Strategic Skills.

Strategy makes a business efficient as it sets the tone, focus and direction for all business activities and functions

Finally when a business has no strategy, it will experience the following symptoms:
  • Generic Products / Services
  • Cash Flow Problems
  • Price Competition
  • Stalling Revenues
  • Employee Attrition
  • Low Margins

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Does your business have a GPS?

Does your business have a GPS?

By Karthik Siva

Photo by JESHOOTS.COM on Unsplash

A business without a clear strategy is like a car without GPS, it is a sure-fire recipe for failure. Here are reasons why strategy is vital for any business.

A clear strategy puts a business in control so that it can lead rather than follow the market. In other words, it enables a company to create the future rather than react or adapt to it.

Strategy helps a business have a clear direction. When a business has no focus, it generates a lot of activities without meaningful results and it has no sense of priorities – in terms of what it needs to do and what it should not be doing.

In a business world that is changing incredibly fast, where even the future of business is uncertain, where customers are fickle, where competitors are desperate, the only reliable way to win in the market place is through sound Strategic Skills.

Strategy makes a business efficient as it sets the tone, focus and direction for all business activities and functions

Finally when a business has no strategy, it will experience the following symptoms:
– Generic Products / Services
– Cash Flow Problems
– Price Competition
– Stalling Revenues
– Employee Attrition
– Low Margins