Strategic Management

DEVELOPING LONG-TERM BUSINESS SUCCESS

 
Strategic Management | Mountain Monk- Business Consultancy in Surat

You might have heard it before, the best laid plans won’t guarantee success, but having no plan at all will certainly guarantee failure.

Without a coherent strategy, company will lack the focus needed to achieve certain goals and develop plans that will move the business forward. For instance, when you are exhibiting at a tradeshow, you cannot just go and stand behind a booth without any preparation. You will have to plan and build strategies before the exhibition, to attract traffic to your booth including, ideating how to present the booth, creating banner standee to increase the visibility of your company, and printing brochures to acquaint the visitors with your product and customizing giveaways to spread awareness about your existence in the industry.

Having strategy gives business time to get set a sense of how they’re performing, what their capabilities are, and if these capabilities are able to help them grow.

What is strategic management?

It is the continuous process of planning, monitoring, analyzing and assessment of all that is necessary for an organization to meet certain goals and objectives. Strategic management involves defining a business strategy with clear objectives, creating clear plans as to how these objectives will be achieved, allocating the resources needed to achieve the objectives, and aligning business activities to support the objectives.

Establishing core values and core focus

Most businesses fall short of their growth objectives by a wide margin because of not having defined core values and core focus. We establish core values and core focus for your business that can help guide decision-making at critical moments in your business, set the tone for company culture, and can help you ultimately commit to great ideas.

Identifying your niche

We identify your niche that sets you apart from the other businesses in your industry, by looking at your interests and problems, and by exploring and implementing a money-making model. It helps you capitalize on your unique skills, credibility, and knowledge. By identifying niche of your organization, we identify the main competitive advantage and the elements that need to be strengthened.

Setting long-term and short-term goals

After getting your big goal out of your head and into strategy, 10-year target is set, and a tangible and meaning process is created towards the target in order to offer you long-term benefits. To achieve a big goal, we have got to achieve a bunch of smaller goals in order to get there. After setting big goal for 10-year target, more actionable plan is created. 3-year picture is made by analyzing where the organization is going and what the company would look like in 3 years.

After knowing 3-year picture, a list of what you have to get done in 1 year is created. Then quarterly milestones are defined and the priorities are set that you have to accomplish in the next 90 days. Quarterly milestones ensure that there are no distractions keeping you from achieving your target, and provides the direction of operations to reach long-term goals.

Creating a solid USP

Unique Selling Proposition (USP) is a factor that differentiates your product from your competitors. We create a solid USP (Unique Selling Proposition) for your business to attract more and more buyers for your product and service in order to improve your marketing as a whole and boost your revenue.

Creating and implementing the strategy

In order to attain the desired goals and objectives of accomplishing higher sales, we plan a strategic marketing plan. First we must create what we call “The List”. Second, what are our Three Uniques. Third, what is our Proven Process. Lastly, what is our guarantee, in order to define a perfect marketing strategy for your business. For one of our clients, short term goal is to increase revenue by 1 crore without any new hiring which in line with its long term goal of 5 times the current revenue and re-structuring the organization. The catch here is to follow a strict sales process to adhere to the sales strategy and keep a check on HR and other expenses diligently. The result is increased margins with minimal expenses.

Apart from fast and effective decision making and directing work, Strategic Management assists with counteracting threats or better, cutting back costs, predicting probable market trends, employee motivation, gratification and improving overall performance. Strategic management drives organizations to focus on the internal environment, through encouraging and setting challenges for employees, helping them achieve personal as well as organizational objectives.



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