|Strategic Planning Information|
Innovate Today for Great Leaps Forward Tomorrow
How often does your company make a quantum leap forward? My guess is that, on a scale from "frequently (10) ? to ? never (1)" the answer is much closer to "never" because few companies have a process to innovate or think creatively. Very few attempt to formally think through their business model, their relationships with staff, clients, and vendors, and their product / service offerings.
Most companies just follow the leaders in their industry. They continue to exist because they provide products and services in client-friendly, efficient manner. Without a culture and processes to foster innovation and creativity, they are stuck in a mode of growth based on population increase, customer loyalty, and inertia. They can't leap forward because they are held back by their "stuckness."
Leaping forward takes innovation, creativity, a culture of stretching boundaries, and a tolerance for limited risk. Innovation and creativity stretches the company and builds excitement within. The energy of that excitement is transformative. Great things can happen when a company becomes an innovative leader.
Unfortunately one cannot just "snap your fingers" and transform a "me too" company into one that grows and inspires by fostering creativity and innovation. It is a slow process in the beginning of the transformation. It starts when top management starts pulling the company into the realm of leaping forward by imagining the possibilities of an innovative future.
What would it take to make your company became an innovative industry leader? The obvious place to start is to ask whether you have an environment that supports innovation, a process for evaluating opportunities, and a system to implement change while minimizing risk. Start slowly by holding a series of short "innovative thinking" meetings on conceptual, long-term subjects to discover what you might accomplish if you innovate. Realize this might be a multi-year task. Then start developing that process towards the road of innovation, creative thinking, and ultimately, quantum leaps forward. The day to start towards those leaps forward is today.
Larry Galler coaches and consults with high-performance executives, professionals, and small businesses since 1993. He is the writer of the long-running (every Sunday since November 2001) business column, "Front Lines with Larry Galler" Sign up for his free newsletter at http://www.larrygaller.com
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Strategic Planning Fundamentals
Strategic planning is vital while starting a new business or expansion of an business or planning to boost the performance of an existing business. But it requires detailed strategic planning and controlled deployment activities. Strategic planning is used to delivers its value proposition and achieve its mission.
Regroup - How To Do It And Why It Works
Regroup?is this a new management trend? Not a chance! Regroup is simply an opportunity to end one month's business cycle, recap the performance of your company and outline a plan of success for the new upcoming month. Why does it work? Because it allows each person on your team to assess their performance from the previous month, and make any necessary adjustments for the new month. Here's how it works:
Rules to Setting Business Goals and Objectives: Why and How to be SMART
We all know that nothing runs without a plan, and a plan cannot run without having its objectives set.
What is a Shared Vision?
So what makes a vision successful? Everyday companies try to create a vision that will lead them into the future but seldom does that vision ever impact the organization. The reason for this is that the vision is created by a few and never becomes a 'shared vision' of the entire organization.
Vendor Relations Strategies Sample Outline
One of the quintessential parts to any business is your supply chain. To insure that the supplies are there when you need them; in this new day and age of "just in time" distribution where very little sits on warehouse shelves until you order it you will need excellent vendor relations. Without the help of your vendors a small customer need turns into a astronomical problem and if you cannot solve it or serve your customer, you will indeed lose that customer to someone else who will. Someone who has constantly maintained a close relationship with their vendors in fact and can get what they need quickly with a simple phone. You say; "you wish it was that easy!" Yes, I hear you, yet I have seen over the years that with the proper vendor team, you can do anything, build anything, create anything and move forward faster than any competitor ever dreamed of. How do I know? Well, I built a multi-state franchise company with no outside investors from the smallest of small businesses, that's how.
Don?t Just Talk About the Weather, Use It to Advantage
A well known, national chain of restaurants discovered that certain weather patterns substantially impacts their business. They have studied it and found that more people go out to eat dinner when there is a series of beautiful days. So they measure the weather quality at their stores across the country. Managers report the weather quality daily. A weather predicting system is then employed to determine the quality of subsequent days. When the model predicts a higher customer count they reduce or eliminate sale items and include higher priced or higher margin specials on the changing daily menu. While they can't control the weather, they know that their customers respond to it. Knowing that, they work to take advantage of factors that can predict changes in business activity.
Business Disaster? Wont Happen to Me
As fast as you can say business disaster, your business can go up in smoke. That's what happened a while back to Castle Carpet One. Gone were thousands of dollars worth of equipment and carpet, plus two smaller businesses that were housed in the same building. Luckily the owners, Larry and Diane Cox, had plenty of business insurance to cover their physical losses. But they lost their most important business asset - customer records - because of failed back up systems. Rebuilding their customer base will be tough and the long-term revenue impact is hard to measure.
Business Plan 101 How to Write a Table of Contents
No matter what business you plan to start in your next entrepreneurial endeavor you need to be thinking about writing a business plan. Even if you are not seeking funding for your new business or already have secured funds from family members, angel investor types, personal savings or partners. A business plan helps you start out on the right foot and makes you think about your future strategies. One important thing you need in a business plan is a table of contents that you can use as a guide, as you go thru the hectic and tedious steps to start your new business. There are a myriad of rules, regulations and inane paper work and you must stay focused at all times.
Are You Aware of Planning in Business?
Human beings are rational agents. Rationality endorses one to take up planning in every sphere of life from shifting to a new house to marriage, as well as business. A business plan is the first and most significant premise to reach and run a successful business. It is not just that capital that makes a business successful but it is also planning done in a prudent manner that plays a crucial role.
What Every Service Provider Ought To Know About Writing A Business Plan
It's easy to lose sight of what needs to be communicated to prospective investors when writing the various sections of a business plan. Successful business owners/entrepreneurs use each section of their business plan to work up interest, to present arguments and, most important, to build trust and confidence.
Five Crucial Components of a Business Plan
The format of a Business Plan is something that has been developed and refined over the years and is something that should not be changed. Like a good recipe, a business plan needs to include certain ingredients to make it work.
5 Strategies That Will Boost Your Business Productivity Today! - Part 1
Building a dynamic small business is a constantly evolving, increasingly demanding role.
Attributes of Companies You Dont Want to Buy!
There are no "rules of thumb" in the pursuit of companies to buy. Each purchase opportunity has to stand on its own merits. There are, however, attributes of acquisition candidates that need to be defined for what they really are before additional, limited resources are put at risk in a potential deal. It is absolutely critical for any proactive business buyer to understand, consider and deal with specific business characteristics that add unnecessary financial risk to the investment opportunity at hand.
Akron OH; A great place to do business
When looking at Akron carefully one cannot help but notice it's brilliant location to rivers, water, large cities and middle class consumer spending populations. With Canton to the South, high-end and growing Fairlawn to the North, Kent State and University of Ohio both a stones throw; the potential for any business is quite apparent. There are 160 trucking companies many of which are located in the area due to its proximity to large markets on a major freeway. Everything you want is there or can be delivered within days.
The Chief Cause of Business Failure & Success
Business rises and falls on leadership. According to business guru, Brian Tracy, "Leadership is the most important single factor in determining business success or failure in our competitive, turbulent, fast-moving economy." Still not convinced? Based on a study by Jessie Hagen of the US Bank, here are the main reasons why businesses fail:
The Top 10 Priorities That Guard Your Five-Star Reputation
Making money doesn't make your reputation... your reputation makes you money. Gala Gorman
The Six Sigma Method and Design of Experiments
Six Sigma is becoming a proven approach for businesses and organizations to improve their performance. The spectrum of companies actively engaging in Six Sigma today is wide from industrials like Celanese, Caterpillar, GE, Honeywell, and 3M to service/retail organizations like Starwood Hotels, Sears, and Home Depot. Six Sigma has even started in the financial industry with Bank of America and JPMorgan Chase initiating major deployments in the past two years. Probably the most exciting area is in the public and healthcare sectors with success stories emerging from city government and John Hopkins Medical.
Laying It Out On Paper
You might be thinking to yourself, "Why should I waste my time writing a business plan? I know what (web designers, freelance writers, professional organizers) do!" Knowing intellectually what your industry is all about and pinpointing exactly where you want your business to go are two entirely different propositions.
Top 10 Tips to Create A Business Plan! (For People Who Hate Business Plans)
One of the key challenges for any business is to remain focused and invest resources for maximum pay-off. It's said that 80% of a business's activity accounts for only 20% of total profits. In plain language, most of the work we do is unfocused, poorly designed and ineffective. In today's competitive world, no business, whether it's an individual professional or a large manufacturing operation, can survive with that much lost time and wasted effort. A business plan can help, but most small business owners (and some managers/supervisors) hate doing them! In the spirit that any map is better than no map, here are my top ten keys to creating your own map to success:
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