Finding Strategic Opportunities

FINDING STRATEGIC OPPORTUNITIES Being strategic is the ability to design a plan to achieve advantageous conditions in the future. It is the anticipation of future scenarios where you can leverage strengths and minimize weaknesses. Risk is often involved, but having a strat- egy means planning and preparing to achieve a goal. Forming a strategy for the future sounds like a great idea, but where do you even begin? Here is a list of seven places that you can find a strategic opportunity. CUSTOMERS Is there an opportunity to add value to the internal and external clients that use the products and services you provide? RELATIONSHIPS These are the people that play a part in your future suc- cess. Can you take advantage of our own network of friends, co-workers, team members, and sponsors? WALUE PRODUCTS AND SERVICES Can the tangible or intangible services, goods, or prod- ucts you produce be improved in a unique and distinc- tive way? Are there new products or services that you RESOURCES Resources are the things you use to create the products and services you provide. They include: materials, time, money, technology, assets, and knowledge. Is there a strategic opportunity to create new or different value in any of these areas? could offer? my goal PROCEDURES YOURSELF These are the ways that you perform daily tasks, activi- ties, and routines. Are there any processes that can con- vert resources into deliverables that can be refined or What goals do you have? Are there areas that you can work on? These could be knowledge, skills, health, atti- tude, motivation, focus, or behavior. upgraded? When you are trying to discover strategic opportunities, look for areas that will play critical roles in your future success. Determine which elements from this list will yield the highest return for the amount of energy and time you will have to invest. Be more strategic by viewing this list with a broad perspective. Find a purpose, make a plan, and give yourself a long-term advantage. 100 A 100 Center for STAKEHOLDERS These are the parties that have entrusted you with their investments. Always keep a look out for great opportuni- ties to evolve your business and your revenues. Management & Organization Effectiveness CMOE partners with all types of organizations around the world to provide leaders and team members with performance solutions, training programs, research, and consulting services. Our mission is to help organizations achieve strategic success and build lasting partnerships in the workplace. www.cmoe.com