Strategies and Real Issues

The language of the new age and the concordance to see businesses strive for excellence has seen the emergence of a new sphere called ‘business development’. Today, business development has become the practice that project businesses to the next level, bringing strategies that align with customer expectation, generate customer insight, maintain brand visibility and synergies the link between the business and customer loyalty.

Today, business development has taken a new phase. Compared to the old traditional method, the twenty-first century poses its own challenges that are peculiar compared to the Stone Age. Nothing is done today without the formulation of strategies, but strategies are not enough because they could actually be correct and yet won’t bring the desired results.

The question now is why? The ‘why’ question gave rise to the importance of this article. In formulating strategies we must put into consideration the following to bring about the expected result:

  1. We must formulate strategies that tackle the issues of this present age, putting in mind that strategy without the conceptualisation of real human philosophy is vague.

  2. We should genuinely have the interest of the consumers in mind.

  3. We should have done our research properly.

  4. We should know why the competition is doing well and have gained acceptance by the consumers of their product or services.

  5. We must understand the territory in which they operate because models and strategies differ as territory changes.

  6. We should integrate social technologies in the strategic plan.

  7. In the course of carrying out the strategy, we must be ready to adjust the model if it doesn’t fit into reality, irrespective of the formulator.

  8. Strategies are done on the basis of an identified niche that needs to be covered and not based on unrealistic assumptions.

  9. Assumptions and idea conceptualisations follow a path of realistic expectations which can be proved by inspecting the trend and  the path followed by the consumers; on that basis, it can be seen as genuine.

Finally, after arriving at a strategy, it should be re-evaluated using real life situations before it can be put to use, then we will arrive at the expected result.

By: Benneth NJOKU

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