It is easy to get dragged into the day-to-day execution of the business. We can lose track of the competition’s recent moves, changing industry boundaries and our ideal position and product mix on the competitive grid. We can have our perspective stuck in the way we’ve decided things are in years past. Large companies often outsource an industry study and competitive analysis to a big consulting firm, but we feel this is a bad idea for many middle market firms. The process of strategy development and doing strategic planning is instructive in and of itself, and primes the team to execute once decisions have been made.
We have also found that CEOs and their top teams often know quite a bit about their own domain, and they often just simply need some help in being becoming disciplined about updating their knowledge, analyzing it step by step, and writing down a 3-5 year strategic plan. We help them do this. Here is one client case study that illustrates this point.