Competition is tough between businesses, and customers only expect more and better services than ever before. A business also does not want to be around for only a year or two, it wants to get bigger and more profitable as time passes. In order for this to happen the company executives need a strategy, and should be well aware of analytical tools such as strategic insight.
Managers who have attended training courses may be familiar with certain strategical concepts that are known to improve the way a business is run, both internally and externally. One makes use of a few circles, and is a simple tool that is used to display the relationship between a business and its clients. This representation can assist managers when it comes to decisions as well.
Each circle drawn represents something different. The first will contain the most important things to consider regarding the company's customers. Here it is necessary to determine what the customer wants, for example, a quick service delivery, because their time is valuable, and limited. Spending time discovering what the customer wants can help the company change in ways that will benefit the customer, and which will therefore increase profits.
Even though customers are sometimes more silent than vocal, a business needs to consider what they need most, and how they feel about the services or products that are on offer. The second circle will determine how positively or negatively the client relates to the business, from the view of the team leaders. The more the first two circles cross over each other the better the business is handling their customers.
It is rarely found that customers ask a business to supply a certain product. Things usually happen the other way around. A business will determine the need for a service or product, and supply it. The customer will be happy and buy it, because they need it. The main thing is therefore to try and determine the customer's unexpressed problems or needs, and develop them into something profitable.
Now the managers will complete the last circle of the diagram. This one is dedicated to the company's competitors, and how the managers think customers view other businesses in the same line of service. Each circle has its own purpose, and each is strategically important when a business wants to gain a competitive advantage over similar businesses.
The information for each circle is obtained by asking questions. The question if the company is available to customers in a particular area is an example for the first circle, while the question of whether the company is able to compare to their competitor's advantages is a an example for the third. With the use of questions, a discussion is encouraged.
Strategic insight also encourages a business to look more closely at their existing services. Finding out more about customers may lead to the discovery that certain services are actually negatively viewed. With all the collected information, much can be done in terms of the growth and development of the company.
Managers who have attended training courses may be familiar with certain strategical concepts that are known to improve the way a business is run, both internally and externally. One makes use of a few circles, and is a simple tool that is used to display the relationship between a business and its clients. This representation can assist managers when it comes to decisions as well.
Each circle drawn represents something different. The first will contain the most important things to consider regarding the company's customers. Here it is necessary to determine what the customer wants, for example, a quick service delivery, because their time is valuable, and limited. Spending time discovering what the customer wants can help the company change in ways that will benefit the customer, and which will therefore increase profits.
Even though customers are sometimes more silent than vocal, a business needs to consider what they need most, and how they feel about the services or products that are on offer. The second circle will determine how positively or negatively the client relates to the business, from the view of the team leaders. The more the first two circles cross over each other the better the business is handling their customers.
It is rarely found that customers ask a business to supply a certain product. Things usually happen the other way around. A business will determine the need for a service or product, and supply it. The customer will be happy and buy it, because they need it. The main thing is therefore to try and determine the customer's unexpressed problems or needs, and develop them into something profitable.
Now the managers will complete the last circle of the diagram. This one is dedicated to the company's competitors, and how the managers think customers view other businesses in the same line of service. Each circle has its own purpose, and each is strategically important when a business wants to gain a competitive advantage over similar businesses.
The information for each circle is obtained by asking questions. The question if the company is available to customers in a particular area is an example for the first circle, while the question of whether the company is able to compare to their competitor's advantages is a an example for the third. With the use of questions, a discussion is encouraged.
Strategic insight also encourages a business to look more closely at their existing services. Finding out more about customers may lead to the discovery that certain services are actually negatively viewed. With all the collected information, much can be done in terms of the growth and development of the company.
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