Collection: Strategy

A dynamic business strategy for a changing world

Strategy is the backbone of the business as it is the roadmap which leads to the desired goals. Any fault in this roadmap can result in the business getting lost in the crowd of overwhelming competitors.

A business strategy is the combination of all the decisions taken and actions performed by the business to accomplish business goals and to secure a competitive position in the market.

A business strategy must take into account a number of factors including the market, competitors, and the business environment, as well as the company's structure, strengths and weaknesses. It should also be flexible enough to handle change.

You need a blueprint

Business strategy involves covering off the basics, as listed above, but what is needed to formulate a successful business strategy? Today's world is in continual change.

Business is not the same today as it was yesterday - or what it will be tomorrow. So any business strategy must be both flexible, as well as adaptable.

How is strategy different from tactics?

Before we get into the details of building a strategy, it is vital to understand how a strategy differs from a tactic.

While both terms are often interchangeably confused, they are two entirely different things:

A strategy refers to an organization’s long-term goals and how it plans to reach them. In other words, it shows the path to achieve the defined vision.

A tactic refers to the specific actions taken to reach the set goals in line with the strategy.

Why is having a business strategy important?

The existence of a strategy is a critical success factor for any business.

Essentially, it reflects the strengths and weaknesses of the company and answers how the company plans to respond to the threats and opportunities in the market in which it operates.

A strategy takes into account the resources at hand and how to best deploy them to achieve its set objectives.

That’s why a strategy is often called the lighthouse for a company’s management:

Getting Your Northstar

Strategy aligns the efforts of all functional departments and gives its employees a Northstar that guides their daily decision making.

In the absence of such a blueprint, it would lead to disordered actions in business departments, limiting the organisation’s effectiveness as a whole. This incoherence always results in a loss of competitive power that will be exploited in the market.

How GrowthSmiths Can Help

We offer a range of solutions for you to succeed with. Whether you choose to do it on your own, there are a variety of downloads available.

For specific assistance, we provide a number of solutions and welcome the opportunity to customise for your specific needs and requirements.

Feel free to contact bashir@thegrowthsmiths.com for any assistance you may need.

4 products
  • Business Strategy Support Retainer
    Business Strategy Support Retainer
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  • Vision To Value Workshop
    Vision To Value Workshop
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  • 2 Day Strategy Facilitation Session
    2 Day Strategy Facilitation Session
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  • 3 Day Strategy Implementation
    3 Day Strategy Implementation
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