How-To Series: Managing Strategy (2)

2/2 (contd…)

Brainstorming

Brainstorming is a technique undertaken by various organisations to help solve organisational or other operational issues, or to help encourage creative thinking, or to generate any idea. There are three stages to brainstorming: preparation, the session and the evaluation. Starting from the preparation stage, entrepreneur-managers should first select the problem or the opportunity to be discussed about or brainstormed. The next step should be to define in your mind the structure it would have, like what exactly you are looking for the participants to answer, other than the discussion’s aims and objectives. Choosing the facilitator comes next. You will have to choose someone who everyone can openly address to, someone who is open about his thought and knows how to engage a group of participants. He will have to keep it interesting.

Then, it is the location! Where you will discuss is another very important factor one should consider before initiating a brainstorming session. The session stage of brainstorming focuses on the actual topic or subject that needs to be talked about. The evaluation is the last stage and it entails the scrutinising bit and picking up a person with most votes. Other than that, it will also help you see whether or not the solution zeroed in on is feasible. Discourage dominant individuals do most of the talking and appreciate the quiet ones to come forward so an equal flow of opinions and ideas can come to the table.

Choosing a Growth Strategy

The growth path can take you places and is limited only by your imagination. As the most important person behind your organisation, you need to start by understanding the major growth strategy options. Growth is not limited to going national or international, but in its strength to be dynamic and adapting to the changing market scenarios. You need to start by building your brand. It is not only size that will make you dynamic, but a right mix of quality, reputation, prestige and profit margins. You also need to figure if you want to focus on the one thing that your brand is known for or diversify into providing various other products or services.

Whatever the decision, the technological developments of the market need to be taken into account when growing, other than selecting a growth strategy. When choosing a growth strategy, understand that change is inevitable and your business will have to adapt to the changing market scenarios. Nurture your business and know if you need innovation or use of new technology in promotions and customer relationships. Pay attention to communication, teamwork, your office culture and most importantly, funding that you will need to power your growth.

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