The pace of change today presents real opportunities for businesses to grow and adapt. But this also brings challenges. There may now be a need to adapt products and services, delivery models, talent strategy and use of technology to improve efficiency and maintain competitive edge.
Step 1 ~ Articulate a vision
In a rapidly changing world, driven by technological advancement, businesses need to look to the future and embrace the opportunities ahead.
Step 2 ~ Assess the current situation
A realistic assessment of the business requires honest, open dialogue and leadership self-awareness. Listening to feedback and observations from managers and teams is critical.
Step 3 ~ Identify barriers to change
Identify any threats to the business. What behaviours and practices are limiting potential? How can stakeholders approach these situations to achieve a positive outcome?
Step 4 ~ Develop a strategic plan
A good business strategy will articulate a high-level plan which covers all aspects of the business, critical or otherwise. Detailed month-by-month actions, KPIs and objectives can then be defined.