Strategies Affecting Long-term Business Sustainability | Connections 4 Success

Strategic Pitfalls Affecting Business Owners’ Long-term Sustainability

There are five primary strategic pitfalls business owners overlook or take for grant when looking to obtain long-term sustainability for their businesses. These are:

  1. Business Strategy isn’t aligned with their Company Mission, Strengths, Successful Processes
  2. Fail to create Standard Operating Procedures and Accountability Measures to Obtain Business Goals
  3. Organizational Structure and Roles & Responsibilities are not reevaluated for the new strategic objectives

For Example:

  • Hiring/Talent Needs
  • Internal Succession of Talent
  • Training employees on new objectives
  • Ensuring your Business has Standard Operating Procedures (SOP’s)
  1. Fiscal Feasibility assessed before creating a strategic growth plans or actions
  • Rather the strategic goals are just that objectives without proof of historical capability or capital to grow.
  1. Organizational Processes and Business Operations do not align with Industry Trends or Advancements & Consumer and Stakeholder Needs or Interests

 

For additional tips on the Strategic Pitfalls Affecting Business Owners’ Long-term Sustainability, watch Connections 4 Success’s vlog below.

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