Why small businesses should be managed strategically

Because companies with clearly defined strategies:

• Have a clear idea of what they want in the long term, their goals are often more thought out, more realistic, and built on a clearly defined and systematically formulated competitive advantage.

• Are less likely to exhibit a dilution of resources, as they are capable of FOCUSING their efforts in selected strategic areas, which are in turn better equipped to attain higher customer value.

• Have a better overview of what is going on outside of the company, taking note of developments and trends in their field, they are more familiar with their customers, competition, and their own possibilities and limits.

• Are quicker and more flexible when it comes to adapting their strategy to the changing environment, allowing them to better seek out or create new opportunities for development and innovation.

• Are inherently more efficient, not wasteful. Their strategy allows them to maintain functional internal order.

• Have and regularly work with their company‘s performance data. Should there be any gaps or hiccups along the way, they are able to act quickly and more proactively.

This is why they have higher overall performance,better financial results and growth rates.

Become a strategically managed small or medium-sized business!