Assembling the various ideas and probabilities that come into mind may sometimes leave out some important things that may be relevant, especially if it means improving the current business operations and be put back into the right place. In most cases, this happens a lot, especially for the eager young minds who want to make a statement and prove that their ideas and imagination are worth the try. While many businesses would gladly be open to such suggestions and innovations, the strategic route towards the targeted goals of an organization in any business undertaking will need to be properly analyzed.
Most people would not want to waste time in investing towards the better business opportunities. However, justifying the time investment and allocation to such endeavors will need to be detailed and properly laid out for management’s nod. Most cases, waiting time and impatience would set in. The careful analysis of these recommendations is the one that eats up most of the pending decision making power of most professional organizations. Just think of it. How would big companies such as Sony, IBM, Microsoft and Toyota among others, be a household name, that whenever they are mentioned, there is customer preference for them over their competing brands. The answer is that the proper framework and strong business foundation are the key elements towards their success, and this is something that they will immediately reply.
Evidently, there is no such thing as an overnight success that will return a long term business operation on profit making practices. The question of customer loyalty, preference and satisfaction shall be among the things that should be put into consideration. Most strategies are developed, but not on a long term basis. They are rather more on a spur of the moment suggestions, just purely to help an organization keep its head above water, because of aggressive business planning and marketing approaches that most organizations would execute. Cost is evident, and the rate of returns from investing in such activities will definitely be something that most management teams be closely monitoring.
Some Helpful Links:
Strategy Management: 3 Steps to the Cycle of Success by Stephen Rutan
Scorecard and Performance Management
Originally posted on July 9, 2006 @ 7:57 am
