Market Strategies
(top)

Definition: This component includes the company's relationship with existing and potential clients/customers, its knowledge of changing needs and opportunities in the market, the way it identifies and reaches its clients/customers, the quality and speed of service it provides, marketing, advertising, and the selling and management skills its possesses.

• Examine management's assumptions, perceptions, predispositions about the market, and determine to what extent they are valid.

• Use one or more of the following Marketing strategies: Use, improve -- marketing materials; advertising; trade shows; direct mail; market research; public relations; etc.

• Use one or more of the following Sales strategies: For Sales staff -- increase their selling time, increase their numbers, increase their knowledge, skills; engage sales reps, distributors; enhance customers' knowledge of what's offered; etc.

• Expand our business within the segments we serve; or expand into other segments; or expand our geographical area; or change the % of sales we make within our existing client base, segments, or geographical areas.

• Determine what the competition has going for it, and then exceed them.

• Evaluate new opportunities in the market--in terms of acquisitions, new products/services, collaborations with others, etc.

• "Attract" the market to us - by immediately implementing cleanliness & organizing work to the next highest level; and by managing our finances better. (This can invoke a response and make the market come to us.)

• Determine what our unique strengths are, and incorporate this information in our marketing and sales efforts.

Additional Reading
This topic is further discussed in the book The Vital Corporation.   (MIRA)

Products & Services Strategies
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Definition: This component refers to the capacity of the company to deliver products and services. It includes the range and quality of products/services it markets, the technical knowledge and skill of sales and service staff, and the level of technology incorporated in its products/services and utilized to carry on business.

• Improve the technology of our products/services by adding one new dimension to it.

• Attune our products/services to meet a psychological need of the client/customer, so that it provides greater enjoyment, security or educational value.

• Examine every technology our company employs and identify ways to reduce cost.

• Match our products/services as closely as possible with the needs of the market.

• Make improvements in our organization (structure, activities, systems, job positions, procedures, rules, regulations) that will improve the development and operation of our technology (including product/services).

• Introduce new or improved technologies internally that will improve the functioning of our own organization.

• Become fully knowledgeable about all new emerging technologies that are directly or indirectly related to our business.

• Identify and adapt new technologies to better meet the needs of our customers.

• Work closely with our vendors to introduce new products/services.

• Continuously expand and upgrade the product/service knowledge and technical expertise of our people.

• Make an effort to completely satisfy existing and potential clients/customers.

• Make our clients/customers happier by making our employees happier. If we show more interest in our employees, thereby making them happier, they will interact better with our client/customers.

• Determine what our unique strengths are, and develop products/services that incorporate, or further incorporate these strengths.

• Implement the value "Quality" in every possible area.

Additional Reading
This topic is further discussed in the book The Vital Corporation. (MIRA)

Organization Strategies
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Definition: This is the component that holds everything together and forms it into a living whole. Organization consists of the structures, systems, policies, procedures and activities of a business, the manner in which it exercises authority, takes decisions, communicates, coordinates and integrates its activities.

• Establish clear job descriptions for every position, and create a system whereby the responsibilities and authority of each position are clear to other people in the company.

• Analyze the jobs of executives, managers, and supervisors to identify tasks that can be delegated to lower levels and the conditions necessary to make that delegation effective.

• Conduct an analysis of major activities in the company (such as selling, order taking, etc.) to identify ways to increase speed, reduce cost, eliminate unnecessary steps, and improve quality. Also, insure there are systems for every activity.

• Assess the effectiveness of important systems in the company (e.g. accounting, budgeting, personnel, information, planning) in terms of their speed, their personnel requirements, quality of work, cost of operations, and whether fully being utilized.

• Try to coordinate and integrate any two systems to create a powerful organization.

• [GLOBAL STRATEGY FOR VALUES] Apply the value to every activity (and sub-activity); to every system (including every procedure), and to every job position task (and sub-task) in the company.

• Implement organizational values such as coordination, integration, discipline, freedom, standardization, teamwork, and communications.

• Determine whether we can innovate any new systems that will further improve our performance. Determine if there are systems successfully employed by other companies that could be used by our company.

Additional Reading
-To review a detailed chapter on the power of Organization in the book The Vital Corporation, please click here.  (MIRA)

People Strategies
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Definition: This component covers the energies, abilities, skills, and attitudes of employees that can be harnessed for growth. People and companies grow together. Those companies that provide maximum opportunities for their people to grow, find maximum opportunities for their own growth.

• Recruit people with a high level of energy and good health.

• Review wage and salary scale, and ensure that the compensation for every position is not only fair, but perceived as fair. Whenever necessary, educate people to understand the true value of the company's benefits package.

• Link compensation directly with performance for every job.

• Introduce profit-sharing or equity programs to make our people "owners" of the company.
  (See The Highest Value--Commitment To People)

• Develop the physical and technical skills of our people through formal training programs.

• Recruit people with the right type of personality to work well in our company and implement its values.

• Establish formal and informal programs to give social recognition to high performers in every department, not just in sales. Every day make it a point to go out and find someone doing something right and recognize it.

• Develop the interpersonal and organizational skills of our people through formal training programs.

• Define clear paths for career development in the company and put in place an effective performance appraisal system to evaluate people's performance and help them to acquire higher level abilities.

• Recruit people with the highest possible level of education and experience.

• Develop the managerial and psychological skills of our people through formal training and personal guidance.
  (See The Highest Value--Commitment To People)

• Give greater personal attention to the people you work with (not to their work) and encourage them to do likewise with their people.

• Actively involve and encourage our people to come forward with ideas and proposals to increase efficiency, improve communications, foster cooperation and promote harmony within the company, and between the company and its customers and its vendor.

• Recognize and reward individual efforts to improve the functioning of our organization.

• Give our people personal attention.
  (See The Highest Value--Commitment To People)

• Strive to provide our people with continuous opportunities to increase their incomes.

• Provide regular, on-going training for every employee

• Give regular feedback to individuals on their performance and what they can do to improve.
  (See The Highest Value--Commitment To People)

• Maintain clear and effective two-way communication with all employees.

• Implement psychological values such as respect for the individual, personal growth, freedom, and harmony to the highest level.

Further Reading
This topic is further discussed in the book The Vital Corporation

Finance Strategies
(top)

Definition: This component defines the way in which the company manages, monitors and utilizes capital resources for its growth. It includes the quality of systems and skills for accounting, budgeting and financial management, cash and credit management, control over purchasing and inventory, access to capital.

• Determine of our company is exploring and taking advantage of every conceivable source of finance to make our business grow.

• Determine what can be done to improve accuracy and timeliness of accounting so that information on performance is available as soon as possible after the day, week, the month, or the job is over.

• Determine how our company can utilize financial information as a positive instrument for tracking and monitoring performance on key activities.

• Determine what type of indicators we can develop as positive motivating tools to help managers and employees evaluate their own performance.

• Determine what are the key areas in which the company can save money by improving performance. Determine what can be done to raise performance in those areas.

• Determine what can we do to generate a more positive attitude in our company regarding the way money is used to motivate employees and vendors?

• Keep expenditure within or below budgeted levels.

• "Attract" money to us - by immediately implementing cleanliness & organizing work to the next highest level; and by managing our finances better. (This can invoke a response and make money come to us.)

• Review some personal growth, "inner strategies" that can help you attract money.

Additional Information

-To learn how to develop a strategic plan, click here.

-To do an evaluation of your company, click here.

-To learn about the power of business values, click here.

-To learn the keys to business success, click here.

-To read mini thoughts insights into business success, click here.