Strategic Roadmap: Strategies and Measures
October 15, 2021
Strategy is the foundation of any business. Having a written plan that formalizes your organization’s strategy regarding deliverables and how one measures success in areas such as business development, operational efficiencies and human resource management can help the business, ownership and family be on the same page. When everyone in the organization knows what you will be accountable for and how you measure for success, that can help the business reach its short- and long-term objectives.
The second pillar is operating efficiently. This is how we do things
better, faster and more efficiently. But if we don't think smart on how to reduce overhead, we could lose it in another area. The third pillar is people development. It's actually starting with finding the right talent, developing the right talent and building all the core competencies to help them succeed within the organization. Another part of people is succession planning. It's having the right people in the right place. And I'm not just talking about the executives. It's all the key positions within the organization.If anyone leaves, who do you have ready today, tomorrow, and, in the distant future? People development is key.