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Strategic advice from AT accountancy Ltd

Why owners managers and MD’s within SME need strategic advice and visionary thinking

Companies that enjoy success have core values and clear objectives while their business strategies adapt over time.

 Core values are essential to all successful organisations and they drive the way the company operates all levels…these values don’t change, although strategies and practices have to adapt endlessly to change.

 It is often the case that companies tend to focus on the immediate priorities of meeting customers’ needs, resolving problems and operational issues…in other words managing the today, without preparing for tomorrow.

 Successful organisations develop a vision for the future and this usually means changing or transforming the organisation to changing external influences. To be effective, visionary thinking and future orientation needs to be:

·          Actively communicated by the organisation's leaders & demonstrated in practice.

·          Durable and consistent – future vision should not change radically or frequently 

·          Clear and understandable so it can be directly applied and made relevant to the way people, at all levels of the organisation, operate.

 

Visionary thinking means developing a clear picture of how the business will operate in the future with a clear connection between strategy and the changes that are occurring within the industry.

 

An essential element of visionary thinking is future orientation: the ability to communicate a clear view of the future of a business area – its aims and what it is achieving.

 

Future orientation applies to managers at all levels, whereas visionary thinking is most relevant to senior and mid-level managers.

 

A clear and dynamic vision of the future is invaluable because it:

 

Ø  Inspires and motivates, engages people, which in turn unlocks energy and commitment. 

Ø  Provides a clear direction for the future.

Ø  Promotes confidence, determination and effectiveness.

Ø  Helps to establish the culture of the organisation

Ø  Promotes team working and ensures consistency, with everyone working towards the same goal.

 

Think of vision as the destination, not the journey.

Using your business vision

 

There is no right way to develop visionary thinking and future orientation. However, successful organisations and leaders will

 

Ø  Decide what they want – they don’t just accept what other people believe will be important in the future.

 

Ø  Trust their intuition – if you feel that a situation is changing and different, or if you have an idea that makes sense to you, explore it further.

 

Ø  Test their assumptions – new insights do not normally come from old information

 

Ø  Tap into the future – they will look for trends and try to understand why things are changing, not just how.

 

@accountancy provide financial planning, budgetary & strategic expertise and support for businesses across Staffordshire and the West Midlands