Business strategy is something many small business owners struggle with. They are busy putting out fires. Putting out fires is tactical. Because they are doing something, the feel that something is getting done.

What many of them don’t realize is that by concentrating on tactics, they are holding back the growth of the business. Enter business strategy.

Unlike tactics, strategy is a broad picture, the result if you will. Strategy is partly setting goals, but it is more than that. I will use the old example of a trip to explain.

Imagine getting in your car and just driving, your don’t know where you are going, or maybe basically have a “hunch” on where to go. You pull out of your driveway, and head down the street. Which way to turn? OK, lets go left. So you head left and the first crisis appears. There is a stalled car in the intersection and you have to detour while they get it moved. Well there is your first “fire.” I could continue this forever, but I hope you get the point.

Just like many business owners, the driver knew he was going somewhere, but it wasn’t clear. The plan also didn’t include a what-if, or any way to measure the goals. That is why strategy is more important than tactics.

With strategy, you know where you are going, how to measure it, and what action to take if there is a roadblock.

So here are some articles on business strategy, enjoy them and please comment.

 


Business Strategy Articles

Chunking as a decision making tool

Chunking as a decision making tool

One method of problem solving or decision-making is a process called "chunking". Chunking is grouping or categorizing related issues or information into the smallest, most meaningful unit. Think about how hard it would be to read a 300-page book without...
Global Business Strategies

Global Business Strategies

Globalization Many people think of globalization as the transfer of jobs to foreign countries. While this is certainly one part of globalization, a true definition would have to include the interconnectedness of everything around us. The interconnections...
Importance Of Strategic Planning

Importance Of Strategic Planning

Maywood Entertainment is a struggling music publishing company that specializes in ethnic music and ethnomusicology. Maywood Entertainment has been in existence for over 15 years, mainly to protect copyrights owned by the principals. The copyrights,...

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