Your search criteria returned no results.
When the economy changes or an unexpected event disrupts your business, the strategic initiatives you charted for your organization may not seem as urgent as they did before. And if they do still top your agenda—you may wonder whether you can or should allocate the necessary resources.
As you weigh competing initiatives for your business, follow these four steps to choose the projects to implement.
Before prioritizing your initiatives, it may help to isolate the exact reasons you are reluctant to move the project forward. Are these common barriers stalling your investment?
Examine each of your projects, and measure them against these key questions.
Does the initiative...
Rank your projects and assign them time windows. Choose some for now and save others for later—based on their risk and return.
The budget sometimes won’t support investing dollars in the immediate term. But consider these workarounds and next steps.
Review your operations or financials, redefining your corporate costs structure on fixed and variable costs, and lower costs by increasing technology or automation.
How to implement:
Ensure you have the tools and skills required to make financial projections, capture critical scenarios, and incorporate the impact of key variables.
By measuring performance with key performance indicators like liquidity, you can identify when the organization can invest once again.
How to implement
Proactively reassess your plans based on your results and the latest facts—not the projections from the previous month.
In an unpredictable environment, it can be difficult to make plans for strategic growth. Volatility works both ways, however. You may be able to launch your projects sooner than you expect.
How to implement
Make sure to save the notes from this exercise to prioritize your strategic initiatives when your budget allows. That being said, reassess those priorities against the business landscape when you do return to investing in your strategic initiatives.
We can help you prioritize your strategic initiatives no matter what business conditions you're facing.
This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our privacy statement for more information on the cookies we use and how to delete or block them.
Accept and close