Do not be amused! Business competition is not a peaceful affair. The name business competition is just a euphemism. It implies cut-throat action on the part of companies against both strong and weak opponents in the market. Bluntly it is just business warfare. How do you face this bloodletting?
The best way to handle this savagery is to be internally well prepared so that you can catch up with what the opponents are doing now and match up with what they intend to do in the future. This involves two major internal changes:
Try out internal reorganizing
To begin, you have to set achievable goals & objectives. If the present ones are not within the comfort zone you must etch out what can possibly be achieved with high degree of probability. The flexibility of down-scaling or up-scaling goals & objectives according to the given market situation is key for changing internal dynamics of a firm. Please note in business strategy “it is the end that influences the beginning”.
Look at reallocation of resources
You have already planned allocation of resources for achieving original ends. As the goals & objectives have undergone changes it is advisable to look at reallocation of resources in light of the changes effected. Sun Tzu principle of resource allocation touches base on three parameters:
Where resources are needed?
How they would be used in facing business competition?
What benefits in terms of revenue and market share are accrued?
Depending on the answers to the above questions you must reallocate resources to gain optimum results!
Cheers!
Muthu Ashraff Rajulu
Business Strategist
Mobile: + 94 777 265677
E-mail: cosmicgems@gmail.com
Blog: Business Strategist
No comments:
Post a Comment