If you do not have a clearly defined and well communicated strategic plan, its time to get moving.
Do not get caught in the trap.
Strategy formulation and execution is easy if everything stays the same. Seasoned leaders know that customers will always demand more, competitors will exploit your weaknesses, internal capabilities will ebb and flow, and the economy may cause changes beyond your control.
Search for your competitive advantage.
Modern management tools have been applied to strategy in a variety of ways – both successful and unsuccessful. Keeping up with these techniques and deciding which ones to use to gain the edge is an essential part of every leader's responsibilities. Ignoring these tools can be hazardous to your growth, even your solvency.
Over eighty percent of businesses that file for bankruptcy had
no strategic plan.
Does your family enterprise have a vision of the future – a vision that is shared and supported by the family? Just like a world class athletes, world class family enterprises visualize their success and work hard everyday to achieve their long term goals. If you do not have a shared vision for your family enterprise, odds are you are not reaching your full potential – either as a family or as a business.
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