Saturday, June 12, 2010

WHAT IS SUCCESS IN THE BUSINESS SENSE?

Here is an interesting perspective, to which I fully concur:

"...success (in as much as we can control it in the face of luck) comes from making good resource allocation decisions; & the decision that depends most on market insight are those about marketing strategy. Hence, it is important that we know what a strong marketing strategy looks like & what that implies for understanding the market...

So, success comes from a strong strategy which is the result of an effective strategy making process, which is a function of matching that process to market conditions. So success is underpinned by an understanding of the market..."


~ from the book, 'Creating Market Insight', by Dr Brian Smith;

What the author is talking about is the importance of strategic exploration ~ the systemic as well as the systematic formulation of strategy & tactics, from the broad scanning of the environment, including understanding deeply the marketspace, all the way to the final execution of action plans .

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