Week 6 - MGKT 6101 - Ascend Your Start-Up
Chapter 6 of Ascend Your Start-Up discussed the importance of measuring your businesses performance. Understanding your strengths and weaknesses will allow you to strategize how to overcome weaknesses. Oftentimes businesses do not stick to their original strategy and frequently make changes, in this environment it can be difficult to measure performance. Business owners want to make sure their strategy and goals align with their performance metrics. If you’re tracking and comparing against a metric that does not align with your strategy, you’re wasting your time because it will not assist in your businesses success. It is important that different departments have goals specific to their duties; however, they should relate to the company’s overarching strategy and goals. Measuring performance against predetermined goals and strategies will allow you to clearly track progress overtime and create a plan if you are not performing as expected. Once a company identifies their weaknesses, working with someone to overcome those obstacles will ensure the success of the company. Take the advice of those who have already overcome the same or similar weaknesses.
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