Strategy for Success—Why Growth Is Not an Option

A businessman is watering a green arrow that points up as he grows the strategy

Can you think of any strategy for business success that does not depend upon growth? Whether you consider it a leading indicator of organizational performance, or a lever for change, or a lagging outcome, growth is what signals, supports and reflects success. And it is more than that…it is the living force behind what attracts high performing talent, brand name strategic partners and desirable target customers.

High Performing Talent
When you are trying to attract and retain top talent, promising employees are far more compelled to join or stay with a company that is on a growth trajectory.  That is where the energy is. That is where they have a chance to grow and prosper. That is where they have opportunities to learn, experiment and innovate. Being part of a high growth company is exciting, energizing and fulfilling. The opposite, too, is sadly true.  When employees are stuck in a company that is shrinking, they are discouraged, frustrated and, eventually, disengaged. It is difficult to maintain morale when revenue and future prospects are fading away.

Brand Name Strategic Partners
Today, a successful strategy often requires dedicated internal and external partners. As long as their business goals are aligned with yours, strategic partners keep you competitive in the marketplace. You work together to update your products and services so you can rapidly change with customer needs. Otherwise, you fall behind…like Kodak who, even though they built the first digital camera in 1975, didn’t adapt quickly enough to digital cameras. Yes, their film was among the best and they owned 90% market share, but that did not matter when film became obsolete and they did not shift their strategy in time.  How about Borders Books? They, too had an early technical advantage based on an inventory system that could optimize and predict consumer buying behavior but failed to adapt to the digital age and changing consumer preferences. And Hummer who ignored consumer shifts against gas guzzlers as wasteful and anti-environment?

Desirable Target Customers
Customers, too, are drawn toward success. They are persuaded by prestigious brand names and compelling testimonials. They like to know that what they buy has a sound future. Growth and a positive company outlook encourage investment.

So how do you ensure you have strategic clarity that adapts the business to changing markets and supports growth?

  • Differentiated Talent: Make sure you keep your employees happy and engaged. Give them a sense of mission and opportunities for development.
  • Differentiated Value: See that you exceed customer expectations in terms of measurable value (what they need and want), quality and service.
  • Differentiated Partners: Maintain close ties with your strategic partners so that your goals stay aligned even as markets shift.

Of course, the most successful companies go further. They keep in touch with their community and act as responsible corporate “citizens” by supporting worthy causes. This kind of active involvement in helping the world be a better place not only promotes the common good but enhances the company image in a worthy and public way.

Grow in the right direction for the right reasons with the right strategy and success will follow. Growth is not an option.

To learn more, download the strategic clarity whitepaper –  Is Your Strategy Clear Enough to Act?

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