Magazine article Management Today

Don't You Believe It ... Small Businesses Don't Need Strategy

Magazine article Management Today

Don't You Believe It ... Small Businesses Don't Need Strategy

Article excerpt

This view was expressed to me, in all seriousness, at a meeting of an organisation of consultants.

I can't think of anything more dangerous - particularly in present conditions. Strategy doesn't have to be as complicated as consultants and academics tend to make it - it simply means understanding what you sell, who you sell it to and why customers come to you rather than someone else. Here are some more good reasons why SMEs need strategy too:

You save management time - often the most limited resource in a small business. Thinking strategically means being crystal-clear about what makes sense for you to be doing and what doesn't. Strategic confusion can dissipate vital energy to the point where the business fails.

You avoid being railroaded by big customers. SMEs are more likely to be dominated by the demands of one or two big customers. If these are pulling in an unprofitable or unsustainable direction, it can be hard to resist. …

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