Successful companies have one aspect in common: they have a well-thought-out plan. A business strategy. This includes the following points:
- Who is the customer
- What does the customer want
- What is our current position in the market
- How can we differentiate ourselves
Successful companies have set a clear course and act accordingly. To achieve your commercial, financial and organizational goals, a clear business strategy is indispensable!
Currently, many companies have been reluctant to invest in recent years. First we had COVID and another crisis presented itself in which even our primary needs in terms of price skyrocketed.
Especially in times of uncertainty and major changes, a good business strategy is of great importance. Recent research shows that almost half of SMEs want to change their strategy in times of crisis.
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What does a good business strategy entail?
A good business strategy contains objectives that want to be achieved within 3 to 5 years. But you don't just reach it. That is why it is written down how you want to achieve these goals. The foundation of a good business strategy is formed by the mission and the vision. These describe the company's raison d'être and its vision for the future. Other key elements of a business strategy include:
- Market strategy
- Operational implementation
A good strategy provides direction, motivates employees and ensures distinctiveness. If you need help developing a good business strategy, please contact us.
In doing so, we look at the values, identity and raison d'être of the company. How is the company's relationship with customers, employees, partners, suppliers, etc.
The vision describes what you want to achieve as an organization. This includes vision of the future, ambition, core values and the distinctive character of the company and/or its products.
In the market strategy, you answer the question: what are the considerations of your target groups for doing business with you? We analyse your product range, market, competitive position, value proposition and added value of the products for your customers.
Tactics determine the plan, means, and ways to achieve the goal.
This involves translating the objectives with regard to marketing & sales, finance, product development and what is needed to achieve the objectives (budget, resources, personnel).