Recently we discussed the importance of a manager’s ability to make decisions and the repercussions associated with aversion to necessary risks. After receiving feedback from our readers (please feel free to reach out to us, we thoroughly enjoy communication with you), we want to help our readers learn which decisions their managers should be most concerned with.
The type and gravity of decisions differ from business to business, however the concept utilized to gauge each decision is the same. In order to reap the benefits of success, a company must clearly develop a competitive advantage in their industry. Competitive advantages are inherent of competently developed and implemented business strategies. Therefore, a manager must make the decisions that are most appropriately aligned with their company’s business strategy (as the consequences of those decisions will impact the standing of their competitive advantage).
In the spirit of proactivity, we have encouraged our clients to ensure that they have clearly communicated the concepts and importance of their adopted business strategy to their managers. We as managers need to shift the perspective to creating control methods that ensure our people are making decisions that continue to develop and strengthen our competitive advantage. Needless to say, if a company does not have a clear understanding of the strategic management process, or a well developed business plan, they are in for turbulence down the road.
This blog serves as an introduction to future posts where we will be exploring the strategic management process, business level strategies, corporate level strategies and assist you in answering questions such as:
How do firms identify opportunities?
Why are some firms able to react faster than others?
How can a firm leverage resources to stay ahead of their competitors?
It is our hope that our readers can gain some new insight from the content that we release. New material is released on a weekly basis, and is a great resource for professionals, job seekers, and employers alike. Please subscribe to our blog, and continue to grow and learn with us.
Michael Chiovitti, Chief Talent Strategist
Eden Resources, LLC