The pace of change today presents real opportunities for businesses to grow and adapt. But this also brings challenges. Businesses may 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.