It’s mid-year and it’s time to review how you did during the first 6 months and to update your goals for the second half. The 4th of July week is such a good time to reflect on what and how you are doing in your business.
Posts Tagged ‘Business Plan’
As we approach the end of the first quarter of 2010, what are your challenges for the rest of the year?
I found two recent reports from the Conference Board and Gartner that share where other executives are allocating their time and resources.
The Conference Board published their latest report on the “Top 10 CEO Challenges in 2010″ last month. It is no surprise that many of the issues focus on “Business Growth Basics.” Some of the top Challenges include:
- Excellence in Execution
- Consistent Execution of Strategy by Top Management
- Sustained & Steady Top-Line Growth
- Customer Loyalty / Retention
- Profit Growth
- Corporate Reputation for Quality Products/Services
- Stimulating Innovation/Creativity/Enabling Entrepreneurship
The following are excerpts from the articles:
“The critical issues of excellence in execution and consistent execution of strategy by top management have consistently remained at the top of the list. But in the latest survey (which was fielded October-December 2009), such growth-oriented challenges as sustained and steady top-line growth, customer loyalty/retention, and profit growth received higher ratings as “greatest concerns.” Also moving up were corporate reputation for quality products/services, and stimulating innovation/creativity/enabling entrepreneurship.”CEOs’ focus on these challenges suggests that recession-weary customers need to be wooed with significant new value to win back their business,” Barrington added.” Source: The Conference Board CEO Challenge 2010 Survey – Feburary 2010
A Gartner Report from December 2009, found that a “majority of U.S. and U.K. CEOs and senior executives believe that IT-enabled change will play a significant role in a post-recession economy. While very few executives expect a rapid return to 2007 performance levels, revenue growth has replaced cost cutting as the top priority in large private- sector organizations. In 2010, 71 percent of executives say their focus will be on improving revenues.” Source: Information Management
There will be significant change in Small Business Marketing in 2010. According to several recent studies, Small Businesses are planning to increase investment in Web and Social Media Marketing Tactics…and reduce investments in more traditional Print, Postcards, Catalogs, TV, Radio Ads. There are three big reasons why executives are changing their tactics:
- Reduced Cost of Lead Generation Programs
- Better Measurement of ROI
- Reduced Sales Cycles
…all resulting in faster sales.
The eMarketer chart below is a good summary of the top 2010 marketing tactics: