Strategy comes from the Greek word ‘strategos’, meaning the art of planning and conducting a war.
From military origin, it is now used in both the political and business arenas.
The basis of strategy is to establish preferred conditions for operations against the enemy.
“Tactics is the art of using troops in battle; strategy is the art of using battles to win wars.”
Looking at the business world as a whole there are 2 common strategic approaches which companies adapt:
Not surprising the flexible approach is more sustainable than the rigid approach.
Narrowing in on an actual business, we learn another 2 common ways strategy is used to achieve goals and objectives:
Typically, the larger a business grows the more focussed the owners become on the bigger picture (be it rigid or flexible).
With that, the more separated they become from the running of operations and how activities are actually being performed. This task sits with management who are held accountable for performance and optimizing activities being carried out.
It’s a growing requirement for management to diligently report to owners on the financial position and potential efficiencies that can be unlocked for the business.
Quite often management are not equipped to best communicate the challenging relationship between operations and a fast changing environment to the owners. In many case, too much critical information is not accurately states or is lost in translation.
This is borne from not having the best scientific methods and tools for analyzing, measuring and forecasting on various scenarios that ensure the optimal strategic path is always being followed.
Enter the Accountant of Tomorrow...
Without question the best placed stakeholder to put together strategic plans for owners.
This enables the owner to remain focussed on the bigger picture without falling out of touch about where they are, where they're headed and how long it will take them with the existing strategy.
Here is how a typical strategic plan is structured for a Company:
Where is the company today
Where is the Company headed and how long will it take
How will the Company get there
How will the Company implement the strategy
The Accounting industry is experiencing a big shake up as we see the traditional firms die out or evolve to the new way of working with clients and EARN A LOT MORE.
Once you know how to map out the above for your target market, it’s time to fill your pipeline with high calibre businesses ecstatic about your offer and the specific benefits they can expect.
If you're interested in learning how to evolve to an Accountant of Tomorrow then click here and book in for a one on one with either myself or an executive from my team.
To your journey,