Time-Slice.com

Volume 1  Issue 1                                           May 2003

business CONSULTING INFORMATION Newsletter

Strategic Planning

     I often draw an analogy to business owners or managers as being like stagecoach drivers. The driver sits in the driver’s seat and controls the team of horses that take the stagecoach to its destination.

   Imagine driving a stagecoach with no destination and spending the day driving that coach down the road only to find you made little progress. You worked hard, the horses are tired, but you seem to be going nowhere.

   Some business owners relate to the illustration of being very active, but not accomplishing very much.  Focus can be created through the use of Strategic Planning, because it helps  the owner or management develop a direction and the method for getting to their destination.

   Most managers don’t realize how many problems are directly related to a lack of focus. Watch a team of horses when they are not working together and they will horse around by nipping at each other. Employees often do the same things when direction is not well defined and communicated.

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Editorial

 

     Some people blame the current economic problems on the 9/11 terrorist attacks at the World Trade Center and the Pentagon, but the downturn started before the attacks. The fact is that we go through economic cycles on a regular basis. Despite the sluggish economy, some companies are growing because they have planned for all contingencies.

   I have spoken with many business leaders who cite their planning efforts as the reason for their continued success despite the current economy. Effective planning can give a focus and purpose to a company during difficult times.  This is the reason my first newsletter focuses on my Strategic Planning services for local business.

 Keith T. Chiles, MBA

Managing in a Recession

     It’s been ten years since we’ve seen a business slowdown and many managers are not familiar with the tactics of managing in a slow economy. The most important strategy is to develop a careful plan by exploring options early in the economic cycle and implementing the plan with caution.

   Economic slowdowns are normal in a healthy economy and occur every three to five years. Many companies loose their sharpness after several years of a strong economy, but these adjustments force managers to tune for peak performance.

   The ideal strategy for a slow or sluggish business environment is to already have a good plan in place.

 

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Inside this Issue