The economy is shifting, technology changes rapidly, and competition is fierce. Any of these can require you to make a pivot in the direction your company is taking. The ability to make a sudden shift in strategic direction can transform a mediocre business idea into a winning one. It isn’t easy to shift in mid-stream [...]
Successful strategic thinkers always have perspective. They consider the potential impact of their actions on those beyond their team or unit. Next time you need to make a big decision, here are three ways to make sure your thinking isn’t too narrow: Explore the outcomes. With every idea, ask yourself, “If we implement this idea, [...]
Running a small business usually means one or two people are responsible for almost everything. Despite not having to manage many people and multiple locations, there are some tools used by large corporations that should be used by small companies, even if they aren’t obvious. Organizational Chart Most small business owners don’t create organizational charts. [...]
When developing a strategy, you need to put your capabilities first. If your strategy depends on capabilities that you do not possess, the strategy can not succeed. Don’t decide on a strategic direction and then wonder what you need to get there, outperform competitors by leveraging what you and your company do best. Use your capabilities [...]
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