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Far too often business owners and managers are so wrapped up in the day to day operations of their businesses that they cannot concentrate on business growth. However, it is business growth that ensures:
- companies stay in business
-
employees' salaries and benefits increase
-
business owners accumulate wealth
Therefore, using outside consultants who are part facilitators, part consultants to perform an ongoing formal strategic planning process is crucial to the success of any business.
DTR Inc.'s business growth service is centered around ongoing strategic planning. This includes the continual management and updating of a SWOT analysis, SWOT plan of action, and SWOT progress reports.
- SWOT analysis - a chart depicting a business' strengths, weaknesses, opportunities and threats.
- SWOT plan of action - to ensure the
business is:
(1) taking advantage of its strengths
(2) overcoming its weaknesses
(3) capitalizing on its opportunities
(4) managing its threats - SWOT plan of action format: objectives, strategies, tactics and goals with responsible party within the company and due dates for completion of tasks.
- SWOT progress reports and meetings - monthly/quarterly meetings to discuss progress and to update the baseline SWOT and its associated SWOT plan of action with the new/changing information. Written status reports follow the meetings to summarize key points and highlight upcoming deliverables. This report makes it easier for senior management and/or business owners to monitor the growth process, encouraging responsible parties to take the steps necessary for the business to grow.
