GAP ANALYSIS CAN ENSURE SUCCESSFUL STRATEGY IMPLEMENTATION
Growing Your Business | Global Strategic Management Solutions
How do you know when change is needed? Change initiatives might be event driven or they can be activities that improve your bottom-line.
Changes in technology, regulations, and customer needs are some the external forces that can require you to look are your current processes. Hiring the right people and retaining top talent are the internal forces that can impact the effectiveness of your organization. Inevitability at some point you have to make changes or risk the possibility of losing customers.
Formulating new strategy can be necessary to either protect your competitive position or exploit new opportunities. There are three key areas that can be a major driver of change:
- Competitive interaction caused by new business models of new entrants
- Industry Evolution requires strategies for responding to the environment
- Technological change by competitors or new entrants to your market
A gap analysis creates a map that can be used to identify the suggested changes in the process. The effective use of a gap analysis can minimize risk and reduce costs of a change initiative.
By viewing the business model from the perspectives of the gap analysis, the changes needed are identified at each point along the route. Critical relationships are also identified and applied objectively to the new business model. For the new strategy to be successful, it will require a change in your organizational culture. The gap analysis provides a systematic approach to improve the methods that your organizations uses to fulfill it's mission.
To learn more about how culture plays a part in the success of your change initiative a free copy of our white paper, how organizational culture impact you’re bottom-line.
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