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As a business consultant, I see many business people who spend a bunch of time preparing a business plan or a strategic plan and then leave it in the desk drawer, never to be seen again. This is an often fatal business mistake. If initially prepared properly, a strategic plan is a road map of your future business, incorporating possible opportunities that can be taken advantage of, and potential obstacles that need to be dealt with.
However, just because a plan has been prepared, that doesn't mean that competitors, customers expectations, the economy etc. will adhere to the time-lines incorporated in your plan. Someone needs to be responsible for monitoring your business's strategic performance. This will ensure that the identified opportunities are taken advantage of at the right time and that the potential threats are monitored for impact and evasive action. |
More often than not, the reason why most small to medium business people don't monitor their strategic performance is because they don't know how. Once there are adequate systems in place however, the process of monitoring and managing strategic performance is not difficult. If you need assistance in this area, a Edgnett coach or consultant can help. All you need to do is contact us to set a time to discuss your needs.
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