Business Advice For Smaller Organisations
Small businesses often feel they don't have the luxury of strategic planning. Yet strategy for your small business can provide a tremendous opportunity to assess the value and competitive advantage of your business.
You don't have to copy the way large corporations do it. In many ways it's easier for smaller businesses to do it flexibly and meaningfully.
Developing a strategic direction for any organisation helps direct efforts, energy and scarce resources. Without a strategy, staff can end up overloaded with 'busy' jobs that don't add value to the company, and owners spread themselves too thinly to feel like they're making any meaningful progress.
How Can Strategic Planning Help?
The key is recognising that a strategic plan is not an isolated business document: it must work with your business model and plan, as well as your workplace policies, marketing strategy, communications and HR. It needs to be a company-wide approach and everyone within the organisation should have at least a basic understanding of the direction of the company and what their role is in the process.
Even a most basic strategic plan helps to make decisions that will add value to your organisation and focus efforts on short and long-term goals more effectively.
However, the most cleverly-designed strategies won't be successful unless they are implemented properly, and done so throughout the organisation. Communication is crucial in order for the strategy to exist beyond the beautifully typeset planning document.
Research has shown that smaller businesses who engage in strategic planning have a better success rate than those who don't.Why not take the plunge?