How to do the year end strategic thinking?

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How to do the year end strategic thinking?
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• Strategic thinking is all about making
  decisions about where one needs to invest the
  resources available in the business and where
  not. The avenues are many such as staff
  efficiency, customer attention, marketing,
  infrastructure etc. We bring to you an account
  on how to go for the year end strategic thinking
  and strategic planning

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Limiting factor in the business

• A number of factors may be limiting the
  growth of the business, you need to factor out
  the biggest limiting factor. Once you get clear
  on what limits your business, you surely can pave
  way for the factors which would enhance the
  growth of your business.

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Ways to limit the limiting factor

• Indeed, this is a challenge, but once you
  overcome this challenge, half of the battle can
  be won instantaneously. It will take a great
  amount of strategic thinking skills to devise
  ways to push back the limiting factor. Make a
  list of all the solutions.

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Categories the solutions as a home run or less
likelihood

• Some of the solutions if worked will give a
  good payoff, mark them as Home run. On the other
  hand, less likelihood solutions are those which
  are difficult to implement and the probability of
  them working is almost nil.

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Determine the sweet spots on the list

• These are the solutions which brings a good
  pay off and their implementation will not cost
  much of the trouble to the business. You must
  invest in such critical areas as there is a
  surety of them giving the best results.

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Clarify the aspirations from business

• A lot of business individuals are not aware
  about what they aspire from their business. The
  idea of vision of the business both in
  qualitative and quantitative terms should be
  crystal clear in the minds of one and all. If the
  business is targeting a new niche or it aspires
  to augment its market share in the coming year,
  the employees must be aware of this.

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Target setting

• An important professional skill that works
  here is the goal setting and sub goal setting.
  For instance, if one plans to achieve a sales
  volume of 6 million in the next 5 coming years.
  The thinkers need to set the sub goal for sales
  volume for each of the 5 years with a lot of
  brainstorming.

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Clear idea of job role

• There must be clarity on what is to be done
  by whom and when and according to what standard.
  You can never make people accountable for tasks
  in the absence of articulating roles and
  responsibilities.

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