Appco Group India: Role of Strategy in Business

For large and small business, Strategic innovation is the need of the hour! The pressures on the strategic front has off late increased and expanded to an extent that growth is being associated with the outcomes of planning. Earlier companies put emphasis on the short term goals and objectives to meet the business targets. This ideology, in today’s demanding ecosystem, doesn’t fit enough and why? The reason behind many business failures today has been a lack of vision and the proper direction to execute the same.

Take the example of product launches. The automobile sector in India is the perfect example of businesses struggling to make a blockbuster impact on the consumer. In India, on an average, 3 different models of the same company are launched in a year. Yet how many of them succeed in registering sales. The lack of vision and future sustainability is the result of such poor strategic direction. The real essence of Strategic planning comes with a blend of innovation, operational planning, directional planning, growth forecast and risk/crisis management. Many a times, due to growing market competition and change in market trends, some of the aspects of traditional strategic planning gets lost. In the wake of budding entrepreneurial environment and unplanned acquisitions and mergers, the company objectives fail to get conveyed to the expanded team. This creates a huge gap in understanding the real motive of having a strategy in business planning. FMCG/consumer goods industry has been a classic example where the throat-cut competition has generated some great products and equally led to the failure of the classic age-old brands.

The mantra for successful strategic planning comes from having a clear understanding of the business plan and defining the objective clearly to the managers and the consumers. And a clear and crisp understanding of the objectives comes from strong research and analysis. And it is no surprise that companies are now investing in research and business intelligence to tap the potentials the market has to offer.

Positively the downside of the current falling economy is the advent of many opportunities that companies can tap into and create long lasting impact on the market.

‘Real strategy comes from an insightful research that has tapped the untamed potentials of the market’