Being in business entails that you follow a certain set of rules that you cannot deviate from, or the business can become disorganized. Let us look at strategy as a whole, in the realm of the business world and its necessity.
What is Strategy, Anyway?
One can define the word strategy as a process where the goal is total achievement through fundamental principles. Let us take marketing for instance, without a foolproof plan in place, there is no way that people will show an interest in the new business offering. In fact, if you are not firm about the goal, the idea can go out the window. Sebastian Greenwood once quoted Bo Jackson who said, “Set your goals high, and don’t stop till you get there”.
Finance is another area in the enterprise where every strategic facet needs to be in place. Right from an inception of the idea, capital investment, and return on the investment, revenue and profits, decline in business should be considered. Setting up shop does require a certain amount of investment pumped into the business for it to function. The rest will come into place once the business goes on the floor.
Operation is another area in business that factors in a myriad of areas right from supervising, quality control, quality checks, efficiency, on-boarding and hiring policies. Every enterprise requires this crucial area to be a part of the conversation, as the operations department keeps the business in check. In this department, the strategy needs to be on point otherwise the brand name may suffer. Sebastian Greenwood once quoted Aristotle who said, “Quality is not an act, it is a habit”.
In strategic human resource development of an organization, the role that really helps put the brand name in focus is the compensation and benefits angle, accompanied by empowered recruitment processes, training, and development. A robust team at the helm of the department is a necessity to get the business on the map.
Aside from the frontrunners cited above in the area of running a business, what brings a company together is artful branding and morale-boosting strategic activities by management. To get a business to be a talking point for people across the board, social media strategy and promotions must be in place. The idea is to sell the brand after all the crucial aspects have taken effect. Sebastian Greenwood once quoted Mark Twain who said, “The secret of getting ahead is getting started”.
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