Tag Archive: Nathan Jurczyk Business Strategy

A great way to strengthen the image of your company in your community is to demonstrate that your company has a vested interest in the community.  This can be done through a multitude of ways, especially volunteering for a local non-profit organization.  Non-profit organizations do a great deal of good for the community.  They provide a broad array of services that address a large variety of needs and their work truly strengthens communities and those that live within it.  Many non-profits, however, struggle with funding and labor and that’s where companies can step in and help.

You want your community to be strong.  When the people are thriving, your business will thrive as well.  You also want the people to see you as a part of what is helping their community thrive.  Getting involved is easy – it can be as simple as cash donations or as in depth as coordinating a fundraiser.  The best way to get involved is to encourage your employees to donate their time.  This is a great way to give back to the community and get your employees involved as well.

Your reputation influences consumers’ decisions when it comes to where they want to take their business.  Make sure you’re putting your best foot forward.  Let people see you as a philanthropic entity with an interest in building a successful community.

The Six Sigma process works well for manufacturing reducing defects to 3.4 defects per million units produced. Motorola claims to have saved over $17 million dollars since its implementation in the mid 1980s. In other fields where customer service is also important, the Six Sigma Lean process has proven more successful with its use of the 5 step DMAIC (Define – Measure – Analyze – Improve – Control) method.

However, both of these systems work for organization with pre-existing product lines. What about innovation? There was an issue with Six Sigma businesses when they found that they could not move past the three Sigma level without completely redesigning a product, implying that the Six Sigma level had to be designed into a product. Others report that Six Sigma reduces creativity and stifles research.

To achieve this, Design for Six Sigma (DFSS), the newest approach related to Six Sigma, was created. With DFSS, product design can be incorporated with Six Sigma principals from inception. The traditional DMAIC (Define – Measure – Analyze – Improve – Control) process which is concerned with resolving manufacturing variation, is replace by a new process in Design for Six Sigma, as the name implies; DMADV stands for Define – Measure – Analyze – Design – Verify. By starting with the Six Sigma design, customer needs can be met during product design. DFSS differs from the traditional Six Sigma process simply in focus. Design for Six Sigma has been developed for product engineering, while the original Six Sigma process is meant to improve existing designs and chains.

Business strategies are utilized by company leaders to set the course of action for an organization. Typically, senior business management leadership selects strategies to line up with the company’s long-term goals. In this way, strategies are tools that provide the how-to guidelines for an organization to achieve those long-term goals. Strategies work together with other tools like the mission statement, vision, and value network. For this tool to work effectively, business strategies should be reviewed along with other vital information collected about the business such as key performance indicators. The people within the business must adopt these principles for effective strategy.

Effective business strategies work best when they are drawn up as an answer to basic questions about the company concerning scope, customer needs, and competitive edge.  A company’s handling of these components driven by market conditions will provide an outline of where they are and where they want to go. This focus in vital; when an opportunity presents itself, an organization can prudently judge if this is the right opportunity for the business.

Business strategies go by many different names: quarterly plans, focus, and company goals. Regardless of the moniker used, the idea is the same: a guiding set of principles for a firm so that everyone from the ground up understands how to allocate the limited resources of the company.

Strategies for operating a business are not done once and then stored away and forgotten; they are forever in flux reflecting the ever-changing needs of an organization through its life-cycle.

The timing of business strategies will depend on the age of the business, the particular industry, as well as its success. Thorough business strategies should be established when a business is starting out. It is part of the comprehensive plan the good corporations set up in the beginning to guide a business. The progress of these plans should be reviewed on a quarterly basis by business management.

A best practice is to conduct business plan reviews in conjunction with a review of the mission statement as well as vision, goals, time lines, and financial forecasts.

Strategies should also be reassessed anytime the business opts to expand with a new department, expansion of an existing division, or other action that could have a major impact to the original financial plan.

Business strategies are utilized by company leaders to set the course of action for an organization to line up with the company’s long-term goals. Business strategies go by many different names: quarterly plans, focus, and company goals. Regardless of the moniker used, the idea is the same: a guiding set of principles for a firm so that everyone from the ground up understands how to allocate the limited resources of the company.

When deciding on the strategies to guide a business, consider common analytic methods, like brainstorming, to help devise the best plans. The acronym SWOT, strengths, weaknesses, opportunities, threats, is one of many to break down the complexities of a company into key areas. By thinking critically about these aspects of an enterprise, leadership can decide where to focus. This is a key to organizational success.

Companies will benefit by spending time thinking critically about some common what-if situations. These include a weak economy, government regulations that affect an industry, and other market unknowns.

At least annually, the leaders of organization should review its business strategies to ensure that their active plan effectively aligns with the current state of the economy and specific activity within their business sector. In rapidly changing industries, it may even be prudent to do this quarterly.

Business management skills, techniques and approaches that are effective are essential elements to running a successful business in today’s aggressive business marketplace. There are many companies and businesses that struggle and even fold every year simply because the business management practices they observed were ineffective – and in many cases, didn’t even exist, says Nathan Jurczyk.

It requires much more than just attractive pricing on products and services to be successful in today’s global marketplace. While these are essential components, continuing to engage in “business as usual” practices can be a major misstep when striving to drive future business growth, sales and service for your company.

If you are a business owner, you must put mechanisms in place to foster ideas, suggestions and “out of the box thoughts” from those within your organization that have a passion for excellence. Companies that espouse an integrated team environment has proven itself especially effective since it elevates the organization to a level of interconnectedness that drives cohesive results.

As you discuss ideas and possibilities with your team, keep those meetings productive and focused on results.  Always remember that your common goal is to increase business growth for your company, and squelching or writing off creative, if somewhat unusual ideas can prove counter-productive to developing new and fresh business practices.

You must be conscious that although many individuals do not take well to change, this element is key for the continued, effective growth of your company. Embracing the status quo might work for a short period of time, but ignoring needed change will limit your growth, allowing competitors to quickly secure market share in this rapidly expanding, digitally-structured economy, explains Nathan Jurczyk. Ignoring the need for change can if fact can be a recipe for disaster when taking a long term perspective.

Another method employed by many companies to encourage and promote growth is to empower employees to make decisions, says VP Nathan Jurczyk. In many companies, decisions can only be made by the owner or shareholders, where employees have no power or authority to make business decisions. Such a policy is fundamentally counter-productive to sustained growth. Empower your essential employees to make decisions when it is necessary so that it will appear to your customers that you are a very competent operation.

Business management practice and skills do not come naturally to most individuals, but with but with focus and determination you can define your business strategy, position your company for growth and make the most of today’s market, even in the slower business cycles indicative of today.

Get the competitive edge you need to have your business be successful in today’s very aggressive business world, and learn how to set yourself apart from your competitors.

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