A company’s strategy is naturally the driving force behind its goals and objectives, and it dictates the tactical execution that needs to be made in achieving those goals. Whatever a given strategy may be, it will never be successful if internal and external stakeholders do not have a clear understanding of the direction. Employees may have some rudimentary knowledge of the company’s growth aspirations, but if they do not believe in the strategy, securing sustainable business achievements will be exponentially more difficult to come by. Shareholders will largely choose a company to invest in by the way a strategy is both communicated and adhered to.
With the ever-increasing speed of business in the 21st century, results-driven executives may – in many cases – become opportunistic in their decision making, often straying from the company’s strategic foundations. As a result, investment into uncharted waters beyond the company’s core business lines creates tremendous opportunity for losses, or in extreme situations, total failure.
Those labeled Winners in the 4+2 study set aggressive goals, and experienced growth three times that of average companies in their respective industry. The established strategy must be crafted around a specific value proposition, and should be designed from the outside in based upon specific stakeholder needs. Equally importantly, business development strategies should be focused on core business areas, only expanding into new markets and new products if there is a clear connection to the business’ foundation. Lastly, any strategy should be consistently reviewed and revised based on market conditions and varying trends to ensure that the company’s strategy never stagnates.
How Avidium can help
Avidium consultants work with clients in the development – or fine-tuning – of a company’s strategy to help ensure what is created is both related to the core business and is ultimately focused on growth. At the same time, we provide counsel on how best to communicate the strategy and the brand promise to internal and external stakeholders. The process of designing and assessing a strategy is largely fluid in that the outcomes should never be static, allowing for constant change based on market conditions. Avidium also works with clients in this phase of development, mentoring decision makers on revising or reaffirming direction.