As the recession is lifting, returning to normal (which may become a new normal) will take some time. Business growth will resume. As it does, there are four essential components that all business owners and leaders should consider and adopt to help you out of dormancy (or ignite start up) and propel you closer to where you want to be.
1. A sound strategic framework, by that we mean a clear and aligned (commonly understood and supported) strategic direction and targeted objectives
2. Forecasting (that is, anticipating trends and influencing factors on your current state and proactive problem solving)
3. Good decision making, including elements of speed to decisions (responsiveness), vetting processes, and tracking lessons learned for future application
4. Active Implementation, that is, day-to-day accountability in execution.
Executives committed to leading their organization through these difficult financial times must address the four essential components to achieving success: strategic vision, forecasting, decision making and implementation.
Like great sports games, good business entails a game plan (strategy), environmental/competitive considerations and responsiveness (forecasting and problem solving and), effective decision-making based on the information available, supported by consistent action (accountability in execution).
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