Increase Your Business Value with Strategic Planning for Success 

According to management theorist Peter Drucker, the purpose of a business is to create a customer, which can lead to the development of a market and, subsequently, a business.

Consequently, business value and owner wealth are a function of the extent to which management can effectively and consistently achieve customer satisfaction. In order to realize these objectives, management must devise a business strategy.

There are four standard business strategies that have proven viability:

• Cost Leadership
• Differentiation
• Focus and Integration
• Blue Ocean Strategy

The guiding principle of each of these strategies is to satisfy the customer by beating competition.

Conversely, Blue Ocean Strategy eliminates the competitive focus in the creation of customer value.

Without an effective business strategy, there is minimal opportunity to create a sustainable, valuable enterprise that generates wealth for its owners.