Strategic management: 8 steps to success

Developing a winning strategy tis critical for a company to succeed and flourish in any industry. Developing a vision and getting employees to think and operate in alignment with  that vision is not an easy task, especially when management teams haven’t taken the time to really think through, define, and communicate the company’s strategy. Steps to ensure an industry’s success are outlined with specific examples that pertain to management teams and individuals.

Key Takeaways:

  • Global business demands delivery of production requirements on time and at competitive cost without sacrificing quality.
  • Often there’s a disconnect between asset-strategic vision, which is viewed from a long-term perspective, and the planning and execution of activities, generally conceived as short-range goals.
  • Separating strategic goals from planning and execution goals creates a missed opportunity to align and manage initiatives between important disciplines, like health, safety and maintenance.

“To be successful, an organization must integrate all the elements that drive optimal asset performance.”

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