Boxer David Haye’s victory at the weekend over someone more than a foot taller and several stones heavier was impressive. What impressed me even more was how he’d prepared for the title-fight – and how that relates to us business-people.
A good business strategy means that you, and the people around you, are really clear about what you're trying to achieve, and how you're going to reach your goals. And if you're trying to build value in your business, it's likely that your business strategy is designed to make your company more competitive, more fun to work in, with people around you that will inspire and support you.
On a recent visit to a factory, I was impressed by this small but important bit of management technique.
A couple of days ago, I went back to Auto Marine Cables Ltd, where I’d helped to create a new business strategy in 2006. The results that have been achieved illustrate an important point about business planning.
When I talk about doing a strategic business review, some people recoil with apparent horror, thinking it will be very complex. Actually, it’s a fairly simple process – which isn’t to say that going through may not be quite demanding.