Business Strategy

· If you don't know where your business is going, any road will get you there.

· Where is your business heading?

· What is your business vision / goal?

· Entrepreneurs and business managers are often so preoccupied with immediate issues that they lose sight of their ultimate objectives. That's why a business review or preparation of a strategic plan is a virtual necessity. This may not be a recipe for success, but without it a business is much more likely to fail. A sound plan should:

o Serve as a framework for decisions or for securing support/approval.

o Provide a basis for more detailed planning.

o Explain the business to others in order to inform, motivate & involve.

o Assist benchmarking & performance monitoring.

o Stimulate change and become building block for next plan.

 

· A strategic plan should not be confused with a business plan. The former is likely to be a (very) short document whereas a business plan is usually a much more substantial and detailed document. A strategic plan can provide the foundation and frame work for a business plan.

o A strategic plan is not the same thing as an operational plan. The former should be visionary, conceptual and directional in contrast to an operational plan which is likely to be shorter term, tactical, focused, implementable and measurable. As an example, compare the process of planning a vacation (where, when, duration, budget, who goes, how travel are all strategic issues) with the final preparations (tasks, deadlines, funding, weather, packing, transport and so on are all operational matters).

o A satisfactory strategic plan must be realistic and attainable so as to allow managers and entrepreneurs to think strategically and act operationally

 

Succession Planning

· 75% of businesses in Ireland close within 5 years of the business owner retiring

· Business succession planning involves planning for the smooth continuation and success of a business which depends greatly on the availability of competent staff. Be it profit or non-profit organization, one of the concerns is there may be no successor to drive it once the leader or key person leaves – either by choice or other circumstances. This concern has been repeatedly expressed in the papers by leaders from the private and government sector. It is people, or more aptly, the right people, that make things happen.

· Without succession planning, a business that has become successful can just as easily fail.

· The business grows because there is a leader with experience, drive and ability. Without proper succession planning, the future success of the business is left to chance once that leader is gone. Under such a circumstance, if it succeeds at all, it is by default rather than planned. That is not all. The passing of the baton from one generation to the next is often clouded by the stakeholders’ differing views and agendas. Without proper planning, the clashes of views and agendas can pull the business in several directions and this may wreck an otherwise viable business.

· With so much at stake, business succession planning has to be a priority and should be part of every business planning. There are two main options available to business succession planning, which are:

· Retention Planning: Retention of the business within the family circle; and

· Buy-sell Planning: Selling of the establishment to other business owners or key employees or interested outsiders.

· Whose job is it to plan for the future?

· Who is being groomed to take the business into the future?

 

Disaster Recovery

· Can your business survive as it is?

· Have you planned for the unexpected?

· Having a disaster recovery plan is a fundamental responsibility of every organization. Developing one need not be a trauma.

· Business Impact Analysis and Risk Analysis will help you ensure that your arrangements and disaster recovery plans are appropriate.

· We’re not just talking backing up computers – we’re talking about your business survival

 

Adaptability to Changing Market / Climate

· “Change is inevitable” the Greek philosopher, Heraclitus, is often quoted as having once said.

· Change is something we all have to deal with. It is a big part of life;

· Adaptability becomes the key to survival – whether in business, social or personal affairs.

· When we talk about business, the ability to adapt to changing markets is essential.

· Even more important is the ability to see change coming and react quickly enough to survive in today’s fiercely competitive business world.

· Organisations that survive are those that are adaptable to either minor shifts in trends, or huge changes in the economy.

· These may not necessarily be changes to your principles or missions, but they may very well be practical changes in the way you do business.

· Leaders need to be adaptable; leaders must also be adaptable in their daily work lives.

 

Outcomes Facilitation

· Skilled Facilitators that Create Successful Meeting Outcomes

Your meeting needs to drive business results. But the old paradigm of telling rather than asking is dead. If you want to engage your staff, members and stakeholders, you must take a different approach.

Text Box: Some companies invest time and effort into employee opinion, satisfaction or engagement surveys. But far fewer translate this critical data into insights they can use to develop and maintain their business culture.  These insights provide the foundation for developing an effective range of employee programs and practices — from performance management and leadership development, to rewards, communication and workplace management. We use a variety of proven assessment tools and techniques to: Assess Needs of the individuals and the organisation Establish measurable outcomes required by the organisation Accelerate Learning of the individual and the team members Evaluate the process and the outcome We offer an on-going process of development and support for the executive and the team members being coached. Our process involves one on one coaching sessions for individuals, leaders, executives and high potential staff members Executive Coaching Under the right circumstances, one-on-one interaction with an objective third party can provide a focus that other forms of organizational support simply cannot. Coaching is effective for executives who can say, "I want to get over there, but I'm not sure how to do it," Perhaps, in spite of your outstanding track record, you haven't yet gained the full interpersonal dexterity required of senior managers Executives should seek coaching "when they feel that a change in behavior—either for themselves or their team members—can make a significant difference in the long-term success of the organization Leadership Development and Coaching Leadership development refers to any activity that enhances the quality of leadership within an individual or organization. These activities have ranged from MBA style programs offered at university business schools to, high-ropes courses, coaching and executive retreats. People are not all born with the same potential to lead well anymore than people do not all have the same ability to play rugby or sing opera. Personal characteristics can help or hinder a person's leadership effectiveness and require formalized programs for developing leadership competencies Achieving such development takes focus, practice and persistence more akin to learning a musical instrument than reading a book. Leadership development can build on the development of individuals (including followers) to become leaders. In addition, it also needs to focus on the interpersonal linkages between the individuals in the team. In the belief that the most important resource that an organization possesses is the people that comprise the organization, it should be imperative that organizations address the development of these resources (even including the) Team Development and Coaching The role of the team coach is very different to that of the one-to-one coach. The team coach has to facilitate the open and often simultaneous interaction between all of the team members, often against a background of open or hidden conflict. Our initial research identifies several core roles for the external team coach, helping the team to: define its purpose and priorities understand its environment identify and tackle barriers to performance build the team learning plan grow confidence in themselves and their leader develop the systems, skills and behaviours to internalise coaching We work with boards, executive teams and project teams to create alignment in focus and intention. This is achieved through one on one interviews, various quantitative and qualitative measures, and focused workshops to develop a sense of openness, shared purpose and trust. Talent Management Companies have  come to realize that their employees’ talents and skills drive their business success. Companies that have put into practice talent management have done so to solve an employee retention problem. Many organizations put tremendous effort into attracting employees to their company, but spend little time into retaining and developing talent. A talent management system must be worked into the business strategy and implemented in daily processes throughout the company as a whole. It cannot be left solely to the human resources department to attract and retain employees, but rather must be practiced at all levels of the organization. The business strategy must include responsibilities for line managers to develop the skills of their immediate subordinates. Divisions within the company should be openly sharing information with other departments in order for employees to gain