In the globalized market that we are entering the competition is increasingly fierce, which forces organizations to create a business strategy that enables continuous improvement, cost reduction, better service level and present competitive differentials compared to competitors.
But what is the advantage of adopting a business strategy? How can it help make more assertive decisions and deal with contingencies? To know the answer continue reading.
Importance of a business strategy
Imagine there are two people in search of hidden treasure on an island. One of them has a map that shows in detail the path and the traps until the arrival of the treasure site and the other has nothing to guide you to the treasure. Which of the two is most likely to find the treasure? What the map has, certainly.
The customer is your greatest treasure but to get to it you have several competitors and unforeseen ones on the way and the only way to get ahead is to have a detailed roadmap and take the actions necessary to reach your goal.
Business strategy fulfills exactly this role. Clearly presenting the path to follow in order to achieve the expected objectives.
A common feature of successful companies is having short, medium and long-term plans.
Successful Decisions
Having a defined strategy is essential in the decision-making process.
It is the strategy that will guide which products to create, in which area to realize a greater investment in marketing, to invest in enlargement or modernization, to buy or to rent, to the contractor to outsource, to diversify or to focus, to increase the market share or in profits, etc.
The big difference is that all areas will be united in one direction and the actions are complementary, generating synergy and potentializing the results.
Helps deal with unexpected
Some people often say that planning engages businesses, which is bad in times of crisis. In fact, the opposite is true.
Planning enables you to anticipate problems and act in advance, minimizing their impacts.
The strategy should be written in pencil, that is, have the flexibility to make corrections during the course, as new threats arise constantly. The use of software such as the Target Platform is the most appropriate.
The strategy also needs to be monitored so it quickly realizes when the outcome is not being expected and what actions need to be taken to adjust the course.
Competitive differential
The customer is becoming more demanding and offering a good or excellent product is no longer enough.
To attract the customer you need a competitive edge, something that makes the customer buy from you not only by the price or quality of the product but by the experience provided.
Having a business strategy will allow you to achieve and maintain this result because all areas of your company will be aligned in this search, so you can enchant and loyal customers offering not only a product of excellence but a unique experience.
So if you want your business to grow sustainably, manage the crisis efficiently, make better decisions, and have a competitive edge that delights your customers and puts you in front of your competitors, have a good business strategy.
Want to know how we can help your company have a strategy that works? Contact us and we'll be happy to help you get better results.
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