Five Questions your Strategy
Needs to Answer
1. Where do you want the business to be in five years?
2. In what geographies and customer markets are you going to compete?
3. What is your winning value position, and how will you deliver it to customers?
4. What capabilities; people, processes, and skills do you need to achieve the wins?
5. How will you measure success and hold your gains?
The FM Group can help you create actionable strategies to:
- Increased market share by winning more sales
- Increased market penetration by targeted acquisition
- Launching new product
- Enter new markets
- North American product localization
- Product line management
- Improved asset utilization
- Review product pricing
A strategy is at its core about making choices, choices about what your company will do and what it will not do. A well thought out strategy gives the business a clear focus and enables it to grow faster than the market, taking market share. A clear strategy will enable your team to:
- Avoid making arbitrary decisions that reflect the demands of the loudest clients; decisions that often conflict with the bigger goals
- Focus their time and your capital on the actions that lead to financial return and avoid dilution of the company's profitability
And most critically teams that understand the companies goals and strategies,
- See the larger purpose to their work and have higher employee motivation and retention
- More readily identify growth opportunities because they have a "polar star" to guide the decision-making process
Your time and your capital are limited, so you need a clear, actionable path that enables you to win in the market against your strongest competitor and ensures that your organization doesn't let the urgent take priority over the important
Development starts with understanding your company's unique value proposition, the things that only your firm can bring to the market and understanding what is happening outside your company with your customers, your competitors, and the world at large.