How Do You Make A Strategic Business Decision?
Strategic decisions lie at the heart of every successful business. Leaders need to watch for opportunities for new products and services and position the company to succeed in a competitive environment. They need to discern how to match their organizational capacity with market conditions and adjust to changes in a timely manner. Innovative leaders draw out the ideas of their teams and manage those ideas through an evaluative process to produce profitable results. Look for needs that are unmet by current products and services in your field of expertise or for ways to improve existing products and services. Research the market potential for a few of the most compelling unmet needs. Compare the market opportunities with your organization’s internal capabilities to narrow the focus on the needs you can satisfy most successfully. What resources to you have that enable you to fill the market needs better than competitors? Assemble a team to brainstorm specific ideas for creating products or
