News & Notes

Do you have a strategy for your business?  Do your employees and other stakeholders know what it is? In order for a strategy to work effectively, everyone in the company needs to be working towards the same goal.  How can people help implement a strategy if they don’t know what it is?  I’ve come from companies without clear strategies and goals.  It makes it very difficult for the employees to know what they should be working towards.  So everyone just works on what they think they should be working on.  Individual thinking is great (and needed), but it won’t help you get where you need to be unless everyone is aligned.

Enter the current economic recession.  Many companies have cut costs and laid off employees.  Current employees are scared that they are going to lose their jobs.  Everyone keeps their heads down and works.  No one acts out.  No acts of brilliance.  No innovation.  Nothing new.  While many companies may think that cutting costs and just trying to make it through a recession is the way to survival, it will probably only work if they have deep enough pockets to survive for long enough.  Who wants to go through life in fear and just surviving?

Figure out what makes your company different.  What are you good at?  What benefits can you offer your customers?  How can you not only survive in this economy, but actually strive.  When you figure it out, make sure everyone in your company knows.  Keep goals and language simple so everyone understands where you want to go.  Employees will be much happier if they can work towards a goal and if they know what the future holds – even if there is some risk, at least they understand what it will be.  Not knowing breeds fear – and that’s not a good strategy.

(photo by Vincepal)

Technorati tags: economy, recession, strategy, business, marketing

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