A Pocket Guide to Business Strategy

Having a sound business strategy is absolutely paramount for any organisation in today’s climate. Even more so, with the constantly changing landscape of the manner in which business is conducted itself, it is imperative that the organisation has a sound business strategy as a springboard to ensure relevance and competitiveness. The issues tackled in this ebook encompass those of future management, change management, leadership, knowledge management, value based management, innovation and creativity, and personal development. Becoming an empowered organisation is simply not good enough anymore. Soon, the competition will have achieved similar status. The key lies in simultaneously creating a sustainable competitive advantage. Every existing stable business has a competitive strategy, whether written or not, that has some currency, or the business would not be successful. To develop a successful transformation strategy one should not disregard the existing strategy, but rather build on it. Project management is one of the most participative management strategies in today’s corporate climate, and particularly relevant to the organisation. Project managers have a unique opportunity to influence project outcomes. Recognising their differences and developing new skills will further enhance the probability of success of projects within their respective organisations. Modern project managers must be able to lead a diverse team toward integrated results. A successful project manager is not born per se with people skills, management skills, business expertise, and technical knowledge, but these can all can be developed. Change cannot truly take place in any organisation, unless the resistance to change can be reduced or eliminated. Encouraging and binding support is needed from all levels of management in order for change management to work. The new managerial style might begin with changing the organisation’s structure, reinforcing a new leadership style, and using teamwork and empowerment initiatives. To succeed, other things need to be accomplished too, as the consequences of the new way of doing businesses. Something needs to be done about culture and personnel systems. Major emphasis should be placed on new performance appraisal systems to reward people. Training programs help employees to develop their full potential. These actions should be enhanced by truly open communication to welcome and involve everyone in the implementation of changes and in the learning process.