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Most of the successful company's have a business strategy and a well prepared plan. However in order to become a succesful player in your sector you need to play the game with good players (Employees). Competency level of your employees are so important. First you must start with having the right team members after that you can make a deep market study and get ready with startegy road map considering 4Ps.
1) Undestand your strength points
2) Undestand your market and segment you target.
3) Select the customer that you can target and expect him to respond
4) Prepare your mix based on your strength.
A successful company must have clear objectives and a well-thought-out plan to achieve these goals.
To have a money management plan to avoid bankruptcy or waste.
You must also provide a creative professional team and the most important thing is to get out of the crowd with the least losses
To align the organization to convert vision into mission and mission into long term goals and goals into annual operating plans and communicate ato and motivate each employee
The company needs persistence, strong belief and confidence on the offering and accepting that there is NO SHORTCUT. On the other side, focused market identifification, behaviour / spending pattern of the intended customer(s), what and how end customer is going to get benefit at the mentioned price / commercial, along with very aggresive brand building and sales and marketing strategy - which needs to come in reality as well. Time lines for baby steps are of utmost important.
A document that clearly outlines, identifies the steps and actions to be taken to reach an objective along a given timescale
Company startegy should focus in four business pillars. Customers, Employees, Growth & CSR. Forming best team, create continues improvemnet culture with right performnace program in place will lead company to success.
A strategy is successfuly implemented when its outcome fulfills corporate vision and mission. A company must develop its own metrics or use the balanced score card methodology to measure effectiveness of the implementation againset the roadmap milestones.
right talent and tools to excuate the strategy
