Deb Osgood, President, Knowledge Insitute
Managing and sustaining business growth is all about knowing where you need to go and planning accordingly. While this is easily stated, it can be an elusive goal if you don't have a framework that helps you to define the purpose of the business, how it will operate profitably and how it will sustain itself. Traditionally, these activities were well served by using a business planning framework that identified core components of the operation and objectives over a five-year period.
Today, a lot can happen in five years. Competition is global. Companies that were thought to be invincible are here today and gone tomorrow. What's needed for sustaining business growth in today's environment for firms both large and small, is a strategic map. A strategic map takes into account longer term goals in a way that drives short term decision making. A strategic map ensures that your business mission and vision are clear, doable, trackable and malleable relative to ongoing market forces beyond your control. A strategic map helps to support success.