Strategy
Developing and deploying effective and successful business strategies requires detailed research, time and commitment by the personnel involved and the sponsoring organization. Throughout my career I have had many opportunities to participate and lead the development and execution of corporate, small business and personal company strategies. A short list of the categories of strategies developed and deployed are as follows:
- global procurement integration
- new product development activities
- distribution, sales and market development programs
- identify and/or create corporate and marketing differentiation programs
- local and international company expansion initiatives
- new company start-up strategies
When developing or executing a business strategy I always validate the program by testing the plan for understanding and completeness by applying the S.M.A.R.T. criteria acronym. Breaking down the acronym identifies the test criteria for a strategy as follows:
- S: Simple to execute
- M: Measurable
- A: Achievable
- R: Realistic
- T: Timely
Understanding and meeting the S.M.A.R.T. requirements provides the basis for the successful execution of a plan. The more detailed the answers to the criteria questions the greater the understanding there is of the project and its outcome.