From time to time business owners have to re-evaluate their operations to determine if the objectives set are being realized.
Owners should ask if the business is generating expected revenue, realizing optima profit, managing cost effectively, having the right people in place and having a forward tragectory.
If any of these falls below expectation, it is time for strategic realignment.
Strategic Realignment must have clear objectives and only options that meet the objectives should be considered for implementation.
Every strategic decision made and implemented should be properly documented.
For instance, if the objective is to reduce overhead cost by 15%, all ideas should be noted and documented. But only those that meet the 15% savings objective should be considered for implementation.
Remember, making strategic decision and leading a positive change is what makes a chief executive….