News Reality

A Positive Business Strategy Is Key To Success Today

by www.huffingtonpost.com

Does your business have a visible positive strategy, or do your customers and employees still see your primary focus as closing more sales and killing competitors? Certainly that has been the strategy of many companies, and has worked in the past, but today's customers and workers are looking for more. They want relationships, positive experiences, and a win-win for society.

With the pervasive and instant communication of social media and the Internet, businesses can no longer hide behind the mask of their own hype, either inside the company or outside. The right positive strategy is integral to claiming leadership as well as making it happen.

I just finished a new book, "The Strategic Leader's Roadmap," by Harbir Singh and Michael Useem from the Warton School, which provides some specific steps along the way. I believe these steps are especially critical to the success of entrepreneurs who are rolling out new businesses today. It all starts with setting the right company strategy, including these elements:

Inspirational statement of purpose and direction. The old mission statements declaring your intent to be the "low-cost provider" is no longer a motivating vision for employees or customers. Engaging visions today include elements of social and environmental responsibilities, as well as economic returns to constituents.

Market and customer positioning. Clearly focusing on the right market and customer profile sets your competitor differentiation. It starts with understanding the drivers of customer excitement in advocating your solution, and ways to strengthen relationships. When customers are excited, your team becomes more engaged and productive.

Customer and employee value propositions. What are the company's solutions and practices that will be seen as win-win value by all constituents? Your managers and everyone on your team needs to understand how their actions and leadership relate to value provided. The strategy must drive leadership so that leaders can drive the strategy.

Competitive and leadership leverage. A good strategy provides opportunities for internal actions and leaders to optimize and extend a firm's competitive advantage. This requires effective communication of intent, flexibility in implementation, and positive rewards for innovation and initiative in improving customer experience and quality.

Constant restructuring for future advantage. A strategy that does not evolve as the market changes is a losing strategy. The internal team must see a reward in fostering change and leadership, and customers must be energized by new and improved processes, practices, and solutions. The best strategies are dynamic, rather than fixed.

A positive business strategy allows you to lead strategically by mastering the elements of both, separately and as an integrated whole. The authors argue that strategic leadership is an acquired capability that can and must be mastered by managers at all levels. It needs to extend to the firm's directors, as well as investors. Everyone has to think and act strategically.

Another growing force for strategic leadership is the evolution to globalization. New companies are automatically global in reach and visibility, which makes a lack of strategy more impactful, since there is no move to an alternate environment for correction and restart. You need to get it right the first time, or there may not be a next time.

Above all, no company can afford to confuse strategy with tactics. Strategy is the "what" part of the equation, and tactics are the "how" activities. Every business, especially startups, have limited resources to implement tactics, so they need to be totally clear on the strategy first. Even if you could unleash unlimited tactics, the results would be confusing and non-productive to employees and customers alike.

Business success is an elusive target - with over fifty percent of new businesses continuing to fail in the first five years. We are also seeing an increasing number of former leaders disappear from the scene, including Blockbuster, Kodak, and Sharper Image. Start with a focus on strategy, and keep it there. Maybe it's time to check yours with your employees and your customers, and see how positive it is today.

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.


Read Full Article On www.huffingtonpost.com
Latest
The Black Tux, a suit and tuxedo rental company that operates primarily online, this week opens a store-within-a-Nordstrom store at Alderwood Mall, the first of six such planned locations.
Check out the most detailed account of the events that took place on Raw on April 24, 2017.
The blackout that persisted for several hours highlighted the vulnerability of Kenya's telecommunications and mobile money networks, prompting the industry regulator to seek an explanation from Safari
More than 800 secondary schools across the country are set to be connected to the Internet by the end of this year. Communications Authority of Kenya (CA) awarded the first tender of the Sh4 billion U
Acting Managing Director Femi Adewole (right) said the cash came from Cameroon and African Reinsurance, an institutional shareholder
Floriculture enterprise Primarosa Flowers has moved all its operations to Nyahururu from its Athi River base
Yet, these are the people who require active State protection, lest they be trampled under the feet of local and foreign investors in their quest for higher profits.
More than half of small firms employing workers from the EU worry that Brexit will hurt recruitment, report claims.
LOS ANGELES - Bill O'Reilly says he's sad and surprised that he's off TV but is confident the truth will come out about his exit from Fox News. Five days after his firing amid sexual harassment alleg
A stalwart of the neoconservative movement who was Washington editor of National Review and wrote its “Bread and Circuses” column.
The City Paper has promoted Brandon Soderberg to editor of the free alternative publication, part of the Baltimore Sun Media Group. Soderberg, who had been deputy editor and arts editor, will over
Commercial vehicles - which are mainly diesel - are important for UK economy, says SMMT trade body.
Angry users assailed Slice Intelligence and its service Unroll.me, which scans email inboxes, after it was reported that Uber had used the company’s data.
The Trump administration is taking retaliatory action against Canada over a trade dispute, moving to impose a 20% tariff on softwood lumber that is typically used to build single-family homes.
The Dow Jones industrial average finished the day up over 200 points.        
TOKYO (Reuters) - Japan's growing labor shortage threatens the nation's ubiquitous convenience stores, whose business model relies on an army of part-timers packing bento lunch boxes, manning cash reg
It is a well known fact that fishermen live an extremely dangerous life and that risking themselves on a daily basis is routine for them, which is why a collaborative project that grew out of a compet
SHANGHAI/PARIS (Reuters) - When China unveiled an historic order for its first large commercial jetliner at a national air show in 2010, Western journalists were kept away, and only local media were a
Longtime Kirkland e-commerce company ATGStores.com, which was bought by Lowe’s in 2011, has renamed itself The Mine to emphasize its focus on fine home furnishings.
The Trump administration has pulled down a State Department web page that promoted President Donald Trump’s private Mar-a-Lago resort in Florida after it was criticized by federal ethics experts. In p
Mayor Mike Duggan on the new Flex-N-Gate facility to be built on Detroit's east side.        
Syngenta brought a genetically engineered corn seed variety to the U.S. before China approved it for imports.        
PATH and Tableau are sharing what they have learned from their Visualize No Malaria program at a Tuesday event at Tableau’s headquarters to mark World Malaria Day.
Gov. Phil Bryant and others are questioning plans to award a $4.8 million contract to a company the AG is suing over the Epps prison contract bribery scandal.           &nbs
Today on CNN’s, The Lead with Jake Tapper, guest Michelle Cottle discussed President Donald Trump expectation that being Commander in Chief was like winning a beauty pageant. “He thought b
(Reuters) - T-Mobile US Inc is open to merger talks after a federal ban expires this week, the No. 3 U.S. wireless carrier said on Monday, as it reported stronger-than-expected subscriber growth in t
ST. LOUIS (AP) — Shares of Express Scripts Holding Co. tumbled in extended trading Monday after the prescription drug manager said its biggest customer, Anthem, doesn’t plan to extend its contr
The latest quarter was the 16th in a row that the Bellevue-based wireless carrier gained more than 1 million customers.
A city that relies heavily on tourism is joining several other local governments in abandoning the flag.              
State is set to award $4.8 million contract to company AG is suing over Epps corruption case              
The black-founded hair product company Shea Moisture apologized Monday under heavy criticism on social media for a video spot featuring white women. The online commercial promoting the company’
Five people were killed on the spot while twenty others were injured in a tragic road accident in Jharkhand's Latehar district on Monday night.The accident took place between Latehar and Chandwa near
The police custody of Sukesh Chandrashekhar, the man alleged to be T.T.V Dinkaran's middleman ends on Tuesday, as he will be produced in the Tis Hazari court in the case involving bribing of an Electi
The Patiala House Court will today hear the arguments on the quantum of sentence to be awarded to the underworld don Rajendra Sadashiv Nikhalje alias Chhota Rajan and three other government officials

Recent News

Robert M. Pirsig, Author of ‘Zen and the Art of Motorcycle Maintenance,’ Dies at 88

The novel became an unlikely publishing phenomenon in the mid-1970s and a touchstone in the waning days of the counterculture.
Read Full Article

With Help From City, Soho Rep Will Return to Theater It Vacated

This company plans to go back to its Walker Street location in TriBeCa next spring now that officials have helped it address issues regarding the space.
Read Full Article

‘Mrs Hockey’ Colleen Howe still breaking barriers

Hockey Hall of Fame considers family matriarch for builders category.        
Read Full Article

Boston-Edison association turns 90

Detroit’s Boston-Edison neighborhood association, the city’s longest continuous association, celebrates 90 with a gala        
Read Full Article

A reelection challenge (almost) as big as Texas

As Democrats try for an anti-Trump wave in next year’s midterm elections, break-the-mold Republican Will Hurd fights to hold a vast, politically treacherous district along the U.S.-Mexico border.
Read Full Article

Bill O'Reilly sounds like he is about to launch a revenge tour, not an apology tour

We have not heard the last of the deposed King of Cable News
Read Full Article

U.S. Senate candidate uses image of China to attack construction in D.C.

Jeff Bartos's campaign in Pa. has mixed up Washington with a much, much larger city.
Read Full Article

Why cutting corporate tax and raising the deficit might not hurt Trump politically

If he continues to worry largely about his base, polling suggests he'll do just fine.
Read Full Article

White House ‘confident’ of averting shutdown as Trump shows flexibility on wall

The president said he may be willing to wait until September to begin funding construction.
Read Full Article

Popular Finance

 

Trump's Corporate Tax Slash Ignores How Litte Companies Already Pay

Cutting corporate rates to 15% won't stimulate massive investment because companies already pay that little. Individual taxpayers will, again, be left to take up the slack.
Read Full Article

Los Angeles Clippers are one win away from advancing in playoffs — and one loss away from falling into a hole

On some level, the Clippers are at the crossroads. The outcome of Game 5 in their first-round series against the Utah Jazz could determine how fast the Clippers might be headed in a certain direct
Read Full Article

Why there will be people dancing on the side of L.A. City Hall on Tuesday

On Tuesday morning, downtown L.A. is going Hollywood. Mayor Eric Garcetti will be formally declare April 25 "La La Land" Day with a celebration at City Hall.
Read Full Article

Stubborn plastic may have finally met its match: the hungry wax worm

Here’s a caterpillar that thinks plastic tastes fantastic. Scientists have discovered that the larvae of the wax moth will easily munch through a common plastic known as polyethylene, turning it i
Read Full Article

Police report says passenger fought with officers before he was pulled from United flight

The Chicago aviation officers who forcibly removed a passenger from a United Airlines flight filed reports saying the traveler was “aggressive” when responding to requests to give up his seat and
Read Full Article

Fox News' Tucker Carlson offered a tribute to Bill O'Reilly as he took over the hour held by "The O'Reilly Factor"

Read Full Article

NRA announces legal challenge to California's expanded assault weapon ban and other new gun laws

Read Full Article

Trump tweets: Commends astronaut on new space record

Read Full Article

French presidential candidate Marine Le Pen steps down as leader of National Front party

French presidential candidate Marine Le Pen has announced that she is stepping down as head of the far right National Front party. Monday's move appears to be a way for Le Pen to embrace a wide ra
Read Full Article