Create A Competitive Edge On Your Rivals With Strategic Planning ...

Based on Chief Executive Magazine strategic thinking is considered to be the most valuable skill a leader can possess. But it?s estimated that only 30 % of most managers truly are strategic throughout their thinking. Bad strategy is the primary reason for bankruptcy in today?s world, it is essential to think strategically or risk going out of business.

Fortunately, strategic thinking training is available for companies who wish to develop a competitive advantage over their rivals. This training provides management teams as well as entire organizations using the required skills to increase their leadership potential. After completing the training individuals will see a higher business acumen, and the company will love increased profits and greater productivity.

Developing in addition to locating unique opportunities is a major focus in strategic thinking training. This can enable a creative exchange of ideas among critical people in the organization. By doing this, it?s easier to uncover potential opportunities that can be included in the strategic business plans. Challenging traditional thinking in conversations with others will help reveal the fundamental pros and cons of a company.

Analysis of a company?s good and bad points can help figure out how to develop a unique advantage over competitors. A strength may be superior technology to produce high quality products. Weaknesses could include inexperienced management, poor distribution channels along with a high price structure. The internal factors affecting the success of a business are these strengths and weaknesses.

SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. Internal factors are considered to become strengths (e.g., superior technology) and weaknesses (e.g., inexperienced management). External factors include opportunities (e.g., new markets) and threats (e.g., strict government regulations). A SWOT analysis may help develop effective business and marketing strategies.

Strategic thinking training shows you how to use a SWOT analysis. One of the ways is to match an internal variable like strength by having an external variable like opportunity. As an example, a butcher could use his superior tasting meat (a strength) to spread out a cafe or restaurant (the opportunity). Weaknesses and opportunities may also be matched in a similar way. A company with inexperienced management (a weakness) can hire consultants before you take advantage of a new opportunity.

Going for a strategic thinking training course can tell you that the processes to develop strategies must follow certain guidelines. The strategy should fit with a company?s mission statement and vision in the future. Clearly defined company goals should not be thwarted with a new strategy. The strategy is really a method to achieve the goals. A company that can contemplate multiple alternatives will succeed over a company that may only see one outcome.

Only real data supports the best strategies. Even educated guesses must be based on facts. There are also choices to be made when developing the strategy. Prioritizing activities and determining how resources are to be deployed may not make all people happy. But you still need to be focused on the clear guidance needed to carry out the strategy.

Sandra has been doing business strategy books for countless years. She has seen the ins and outs for the right results to accomplish great strategic planning training level.

Source: http://business.redbright.co.za/create-a-competitive-edge-on-your-rivals-with-strategic-planning/

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