The world is changing, is your business changing with it? Is it sufficiently dynamic to cope with change? A strategy allows us to cut through these changes and can enable a business to continue growing but sometimes a strategy needs to be more flexible to navigate a business through tough times.
So what does a flexible business strategy look like?
A fixed business strategy will be all about the long term goals and the strategy that is expected to deliver those goals.
This works fine if a marketplace doesn’t change or there are no new competitors arriving. If the opposite is true then a flexible business strategy is required that doesn’t just look 12 months or further down the line but one that can be adjusted as little as every month if conditions require it.
For SME businesses change can and often does come sooner or later even in the way business is conducted. For example, a business may have staff tied up on low value projects when far more profit could be made in less time by switching the focus of the business.
To achieve this requires a regular review of strategy which includes a review of future business priorities and lessons learned from previous months.