Friday, 8 October 2010

The unknown - A necessary fear

Why do businesses fear the unknown to such extents they cling to the current regardless of whether it’s practical or not? The unknown may be scary, may mean a lot of hard work and is by no means going to be successful, but it’s a lot more likely to be successful than maintaining flawed and outdated policies which may be keeping the company in the market but are by no means enabling growth or providing customers with a reason to stay.

Taking risks is an essential part of business. Your business strategy may have worked for you in the past, but if you’re not constantly reviewing and updating it, it will soon become outdated and a burden upon the companies chances of success. Keep up with technological breakthroughs, trends, changes in the social structure, laws etc to ensure that your business strategy is up to date, relevant and efficient.

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