Assessment of the situation to devise a game plan for things to come to fruition.

The Art of Strategic Growth in a Competitive Marketplace

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     Today’s marketplace teems with both opportunities and competition. The way to succeed amid continuously changing circumstances, in my view, is to pursue a strategy for growth. My firm, Spector Group, which is celebrating its 50th anniversary this year, has for years followed three distinct, but interconnected elements for strategic growth:
• Deepening relationships with current customers
• Identifying and prioritizing market opportunities
• Adopting a differentiated brand position

How to Lose a Loyal Customer

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The strategic planning review meeting started on a downbeat note. “We just lost Acme, our biggest customer. How could this happen?” Fred, the CEO of what I’ll call Precision Manufacturing, was more sad than angry. “Acme always gave us a positive review in our annual survey. We visit them at least monthly. How could this possibly happen?”

Since there are only four reasons an established, satisfied customer will switch vendors, I said, “Let’s see if we can figure it out.”

Innovation is Actually Category Leadership

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The word “innovation” is such a constant in meetings around the world that it has almost become a contender for “corporate buzzword bingo.” Although it is often over-used it is not always well understood in terms of how it should be implemented into organizational culture, or even how it might be best used as a frame for evaluating business strategy.

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