Exercise agility by reviewing strategy at frequent interval
While an annual or bi-annual strategic review may be sufficient under normal circumstances, the uncertainty created by COVID-19 calls for a far more agile approach. Frequently reviewing strategy enables business owners and their teams to gauge whether or not the approach is still relevant, empowering the organization to course-correct quickly. “In order to keep a finger on the pulse of your business and respond swiftly to changes, we recommend that you consider reviewing strategy on a quarterly basis,” Kennedy explains.
The pandemic has undeniably influenced the need for organizations to adopt a more malleable approach to strategy and business models (Howard, 2020). Kennedy highlights that selecting appropriate metrics is crucial to measuring and understanding where the business is headed. “The choice of which metrics to put in place requires careful consideration. Once you’ve selected fit for purpose metrics that align with your long-term strategy, it’s important that those metrics are frequently reviewed and utilized to inform the effectiveness of that strategy in the short term,” Kennedy expresses.
Navigating business change during an unprecedented time of global uncertainty can be daunting.
“When facing uncertainty, it’s a great comfort to know that expert assistance is readily available when you need it. PulvermacherKennedy and Associates is committed to partnering with clients, ensuring that their strategic approach positions them for sustained business success,” Kennedy concludes.
“Our clients, both in family owned and non-family owned organizations, have invested significant resources to build thriving businesses,” expresses Kennedy. “When you’ve poured your heart, soul and financial resources into a venture, you want to make sure that what you’ve built doesn’t get eroded,” she adds.
Kennedy explains that taking a tailored approach suitable for the nuances of each business they serve enables PKA to deliver value by drawing on the experience and expertise of their team.
“By facilitating timely conversations and sharing insights with our clients, we’ve been able to facilitate the process of crafting agile strategic approaches, and aid the development of pandemic proof business models,” she expresses.
If your organization requires assistance in refreshing or reviewing its strategy, visit http://pulvermacherkennedy.com/ contact us on 647 290 1300 or email@example.com