Key areas of focus for Business Strategy
I have been in senior management now for fifteen plus year and you could say I have looked at numerous strategic tools that are designed to improve certain sections of a business.
I have always been an inquisitive type of person and tailoring to the fact I have never really spent a great deal of time within one organization, I have always asked questions within each operational function mainly towards strategy and wanting to understand the direction for continual improvement and how that aligns into the other functions.
My background in Risk and Project Management has I would say led me to want to understand strategy in more detail due to having to come up with mitigation plans when faced with the risk of failure on key deliverables. Management Systems, as an example (ISO 9001/2015) has levels of strategy which prompts the business to ask the question, what is the plan to improve on what is already in place and what steps will be taken to reach those targets.
Strategy is a key element of business improvement but most of all its in place to focus on increasing turnover (profit).
The two key areas for driving the business forward into expansion are:
- Enterprise Risk Management
- Business Strategy
Drilling down into the core of the business and using these tools will drive forward stability and expansion
Defining a strategy along with a combined Enterprise Risk framework for the above areas will drive the business forward into growth.