I recently saw an interview with the owner of a franchise printing company in the Midwest. When she bought the business, sales had stalled, growth was limited. Clearly, the enterprise needed a new direction.
The nature of the printing industry continues to be redefined and at an accelerated pace. Changing customer demand and advances in digital communication options bring major challenges to businesses looking to adapt, anticipate and respond. These shifts indicate a change in strategic focus.
Two essential elements of a sound plan are assumptions (predictions about issues that are likely to impact our business) and contingencies (what we plan to do if unforeseen disruptions require a change of direction). The benefit of creating and documenting planning...
One of the questions I often post to members of senior leadership teams during strategy sessions is this: “If your organization went out of business today, another one just like it would start up a few days later because somebody has to _________________.” I am...
I read with great interest the story of Saks’ acquisition of both Neiman Marcus and Bergdorf Goodman. These three fierce competitors in the luxury department store arena came together less than two years ago with the hope of...
For a primer on developing an effective mission statement, download the digital version of “Understanding & Implementing Strategy & Planning” here. It can be argued that many industries are challenged by a rapidly changing and uncertain operating environment....