Often formulating strategy or evaluating strategic alternatives is confused with setting goals and objectives, long range financial planning, or budgeting. As result, the process is muddled. There is confusion. Mixed messages are sent to employees and customers.
Strategy is about HOW not what, where or when.
How are we going to get from A to D? How will we develop a compelling brand statement that will portray the fundamental value proposition for our products or services? How will we increase sales by 20%?
Only when management and staff share an understanding of a clear and well articulated strategy can they move forward in a parallel fashion and later make a meaningful evaluation of results. Did we miss our sales forecast because our strategy was bad or was there poor execution?
Research done for CFO Magazine showed that high performing companies spend 20% of the time and resources on budgeting, forecasting, reporting and planning that poor performers spend.
We believe management’s focus on key economic drivers and time spent developing successful strategies accounts for this significant difference. Careful analysis of a business, its products, and its customers is a prerequisite to effective strategic planning.
"Bob DeGarmo was an invaluable resource to us as we worked through numerous complex and difficult issues last year."