Strategic Planning

Filed in archive Operations on August 7, 2008

This video is from a Certified management consultant about strategic planning.

One of the most important things to take from this video is that you need to step out of your comfort zone. Too many businesses get complacent about their business and eventually competitors catch up and pass you.

While I have mentioned many times that you do not want to make radical changes in your business that will alienate your customers such as when Nordstrom's tried changing their niche overnight, your must constantly be looking at what is happening in the marketplace and stay ahead of the competition.

You also need to learn from those who have failed so that you can try to avoid those failures.