With globalization, increasingly fierce competition and the global health crisis, companies in particular are facing new challenges.
As far as companies are concerned, in order to remain competitive and become number one on the market, companies must review some important points, adapt, adjust their vision and their approach to the major changes to come.
Here’s what we’re going to cover in this article: the strategic decisions that leaders need to make.
Why pay special attention to strategic decisions made by business leaders?
The economic growth of companies depends mainly on understanding and being able to adapt their offer to market requirements. However, this requires effective good governance.
With the generational effect of a significant retirement in 2023-2025, the transfer of capital and power to the next generation by shareholders is becoming obvious.
Moving on and succeeding can be a real challenge for both generations and for the company given the huge difference between the new generation and that of previous decades.
To support you, we offer you, a support, the perfect solution to facilitate all the steps that revolve around the transition.
The health crisis is also an accelerator of transformation for the vast majority of companies. These changes force companies to break their daily routines. This applies to managers and employees who are forced to leave their comfort zone.
As a result of this experience in 2020, new procedures and managerial practices have been developed. This has completely transformed the global economy and influences in particular the behavioural evolution of the company’s potential customers.
Each entity was able to measure the importance of new technologies and their impact on the management of all companies. In addition, we are now witnessing an acceleration in the digitalization of the economy. This awareness has prompted many entities to review the various investments essential to ensure the sustainability of their activities.
On the other hand, this leads companies to question:
– Decisions to be made in the face of soaring commodity prices,
– Supply chain optimization,
– Possible offshoring of industries, etc.
So, what strategic decisions do leaders have to make to become the world’s number one?
1. Organize future management
This is done through the reorganization of its governance. Whether you are a family business, an SME, a cooperative, a SFB 120…
Creating a new governance model remains the key to surviving in the complex world of today and tomorrow. It is, therefore, important to choose a governance model that will not only allow transmission and agility, but also to reconcile well-being and performance, conditions sine qua non of a sustainable organization.
2. Transform your organization
To do so, the company will have to evolve its organizational framework and consider the following three levers:
- The structure of the enterprise,
- The tools it will use, and
- The know-how and know-how of the individuals who make up the organisation.
By combining structure, tools and people, you make the company a unique set of values and references. That’s what’s going to make it more or less unique. Do you need advice? We’re at your disposal.
3. The emergence of new professions: an opportunity to be seized
To remain competitive, companies will need to take advantage of opportunities related to current developments.
Let’s take a concrete example.
During the industrial revolution, we were confronted with the disappearance and emergence of new professions.
Today, we are witnessing this type of transformation with the advent of digitization and globalization.
Here, the real challenge for companies is first to become aware of the importance of its changes, then to understand them in order to make the most of them.
4. Carefully select the profiles of the managers to be recruited
The digital revolution is a new challenge for managers and employees. In addition, technological innovations are multiplying and spreading rapidly.
To make good use of them and take advantage of them, it is therefore necessary to assimilate them. Therefore, for the success of the various phases of transition of a company, it is essential to turn to experienced people, able to implement their skills quickly. The need to choose wisely the new profiles of managers to be integrated into your company then becomes more and more felt.
To prove their expertise and keep their places on the market, companies must be quick, responsive and agile. We can then confirm the importance of new forms of management and new profiles to recruit. This is what we offer: the search for managers adapted to your needs and objectives.
Fitch Bennett Partners