Business Strategy at the Organizational Level
The purpose of this paper is to discuss the development of business strategy at the organizational level; the definition of this focus is the strategy that drives missions, goals and competitiveness at the policy level. Preliminary findings indicated that in the current organizational environment of market globalization, rapid technological change, shortened product life cycles, and increasingly aggressive competitors, dramatic changes are occurring with respect to the way work is done – these elements dictate the way that goals and strategies are assessed, determined and implemented.
I spoke with Mr. Joseph Black, CEO of the company for ...view middle of the document...
This is the essence of financial consulting for businesses – to recognize which services best work for the client and the needs that must be filled – the client turns to his/her accountant as a consultant and source of this information and then the client can spend the time and energy working on their own core competency (what makes them money and increases the value of their company) rather than looking around for insurance.
Our company outsources approximately 65% of peripheral consulting, while maintaining the bookkeeping, accounting and other financial management services inhouse. In this way, we can take advantage of the competencies of others while serving our clients as trusted consultants. At one time, Mr. Black says, they had some of these professionals on staff, but from developments in business that pointed to the wisdom of strategic alliance rather than in-house staffing, they found that they could provide a better focus.
Competitively, this allows our company to be a ‘one-stop’ shop and we can keep our clients happy with all the services they need, without having to wonder whether one of our competitors is going to be able to take our client away. When they are so integrated into our system, they are being completely served and there is less chance for competitors to get at them. We can also provide them with a number of products and see revenue from this strategy with lower costs.
Mr. Black also cited a high level of technology competence as being important to business strategy – we have a large database on existing and potential clients,...