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Strategic Planning for Changing Times


Strategic Planning for Changing Times

In this article, Bernie Heine explains how a business can effectively manage a negative forecast.

Fall is a time of change when we prepare for the holidays and a new year. Although this is a festive period, plenty of stress is also involved for businesses and individuals. Companies strive to wrap up their existing projects and meet deadlines before the holiday season starts. However, they must be mindful of the future and prepare accordingly. One of the best survival tactics for businesses is to rely on agility and flexibility. If your company can embrace change and roll with the punches, you will be in for a much smoother ride. To help weather the winds of change for your business, we’ve put together a list of tips to ensure you’ll come out victorious. Here is how your business can stay the course and get through the storm unscathed.

Although we stressed the importance of remaining flexible, this doesn’t mean you shouldn’t have a plan. Create a framework of what you want to achieve, but be ready to adapt on the go. This approach will give you a strategy to strive for, but you will also be resilient if things don’t work out. Remembering the famous quote from President Dwight Eisenhower: “In preparing for battle, I have always found that plans are useless, but planning is indispensable.”

Currently, many economists are claiming we are about to face a recession. Arguably, we are already facing supply chain disruptions and global price increases. Creating a detailed financial plan would be best if you want to weather the winds of change for your business. Adopt a frugal mindset and start tracking expenses. However, saving money isn’t a business goal that should guide your company. Instead, you should find ways to improve the productivity and performance of your daily operations. Setting goals and setting yourself deadlines can help discipline and motivate your teammates.

When the COVID pandemic hit, most businesses were left wondering how to function if their employees couldn’t come to work. Home offices quickly replaced coming in to work in person. Most companies stuck to a work-from-home or hybrid model after the pandemic ended. Although most employees are pleased with the flexibility these models offer, business owners and managers must also find a way to deal with these changes. Running things the way you used to can quickly become slow and cumbersome.

Doing work from home is one thing, but managing a team of employees without direct communication has proven to be more challenging than many have expected.

Learn how to manage employees who are working from home

It has become evident that endless Zoom calls aren’t the best means of keeping your team motivated and productive. Thankfully, business owners can take advantage of professional coaching to learn effective methods of managing a remote workforce.

Key points include

  • Business goals
  • Hybrid workforce management
  • Evaluation and training programs

Read the full article, How to Weather the Winds of Change for Your Business, on