In today’s dynamic economic environment, business owners constantly seek ways to enhance efficiency and drive growth. One of the most effective approaches to achieving these goals is through the strategic use of performance metrics. Among these, ‘Revenue Per Hour Paid’ is a potent tool. Originally from the realm of professional services, this simple yet profound […]
Unlocking Strategic Success: The Role of Strategic Imperatives Strategic imperatives are the cornerstone of any robust strategic plan, acting as the fulcrum around which all strategic efforts pivot. Identifying these imperatives is not just a step in the strategic planning process; it’s the very heart of it, providing the clarity needed to focus on what […]
Setting a Clear Direction: The Foundation of Strategic Planning Success In the landscape of business strategy, the importance of a clear direction cannot be overstressed. It’s the compass that guides every decision, action, and investment in your business. Yet, establishing this direction is often where many stumble, not for lack of ambition, but due to […]
The art of strategic planning is not just about forecasting the future but creating a roadmap that navigates through uncertainties to achieve sustainable growth. But unfortunately for most, strategic planning rarely delivers on the promise. At best, it provides some general direction and guidance. At worst, it’s an expensive and unproductive day that could have […]
At Board Associates, we believe in the transformative power of strategic advisory boards. Our first-quarter advisory board meetings have yielded valuable insights in key areas such as corporate governance, financial management, leadership development, and strategic planning workshops. This piece aims to share these insights and provide actionable steps for business owners and leaders to enhance […]
“Management is doing things right; leadership is doing the right things.” – Peter Drucker Inside This Article: Operational Strains and Growth Stagnation: Signs that it’s time for strategic planning and bringing in top-tier talent. The Real Costs of Not Investing: The impact of inadequate leadership on family businesses and long-term shareholder value. Investment in Talent […]
With the end of Q1 upon us, businesses should pause and reflect, asking: “Are we on the right path for the year?” Here’s why this assessment is critical and some best practices for doing so: Gauge Your Trajectory First and foremost, measure your current trajectory against your annual goals, budget, and shareholder expectations. Are you […]
Increasingly, business owners are starting to hear more about an “advisory board”, but what is an advisory board? At its core, an advisory board is a group of external experts assembled to provide informed guidance, diverse insights, and strategic advice to an organisation’s leadership. Unlike a legal board of directors, which typically has direct governance […]
Succession planning is a fundamental strategy that ensures the continuity and sustainability of family-owned businesses. It involves preparing for a smooth transition of leadership and ownership to the next generation or successor. Given the personal and emotional ties interwoven within these businesses, succession planning can be more intricate and sensitive, making it that much more […]
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