How Effective Is Your Company’s Longer-Term Strategic Planning?
Hey everybody! This is Peter Schier of Scale Up Partners, with a short video about the benefits of long term strategic thinking in manufacturing facilities.
In particular, how companies often struggle to separate daily operational or production issues from the longer-term strategic planning, that’s essential for organisations to not only grow their business, but also stay ahead of their competition.
I’ve observed first hand so many business owners wanting to better understand their current situation and where their business should be in 2, or 5 or even 10-years time. But then how firefighting of daily issues repeatedly stifles executing short term improvement opportunities.
So at some point in a company’s developmental journey, senior management needs to instigate a circuit breaker or a pause to enable meaningful changes in business thinking.
This process should be conducted via a deep analysis of existing production process and practices, combined with where your key markets and product sales are projected to evolve over a 5 to 10 year timeframe.
Thus, effectively evaluating your current state to develop future state goals via well-structured execution plans, implemented via the most economical pathways available. Which may involve government grants or loans, renting or even purchasing second-hand equipment. Or often a combination of several funding strategies.
OK, that’s all I wanted to discuss today and I look forward to sharing other insights in upcoming posts.
Goodbye for now.