H T I OF F W Y O S H E S C R E R U C A T N C L R U U S HIE C TIO U G A C S D E N I S T E N EX T A N E I , C G S S I BU EED TEG N RAP 5 0 ® ST O U G
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When it comes to the Business Hierarchy of Needs®, the organizations need to follow a systematic hierarchical pattern that begins with getting the paying customers. The next step of the Business Hierarchy of Needs® is to build a team that could help retain those customers. A new business will aim to get some cash and customers, and begin creating a great marketing strategy to move forward. The business then would need to transform into a sustainable business by making more sophisticated financial transactions, such as investing in infrastructure, and meeting the regulatory compliance. The startup will switch from being a productbased to a customer-focused business. At this stage, the business will need not only more customers, but more loyal customers because it is less costly to upsell to an existing customer than to earn a new one.
The next challenge for the business would be to deepen relationships with employees, customers, and partners. For this, the business would need a robust CRM, and develop key account management policies. The company will then need to work on brand building, and focus on public relations. The company will invest in extensive thought leadership-based content marketing, and the right brand messaging. Group50’s strategic consultants’ approach to the Business Hierarchy of Needs®change management framework is aligned to achieving a company’s strategic objectives and developing a culture of strategic execution. It consists of three levels of activities that make up for an effective change management process for creating strategy, optimizing the organization, and implementing change.
THESE THREE STAGES OF BUSINESS HIERARCHY OF NEEDS ARE: Data analysis and planning: Group50’s strategic consultants will develop a strategic plan defined by MIG (Most Important Goals), and supported by strategies, tactics, and KPIs (Key Performance Indicators) that address strategic and operational gaps. This level 1 of the Business Hierarchy of Needs®identifies the information required to fully understand the current state, and to lay the foundation for building clearly defined strategies that achieve a defined future state. Companies have many goals and objectives, but they must all be part of a single most important goal.
KNOWLEDGE AND CHANGE MANAGEMENT This includes organizational development of winning behaviors, and critical skills, rewarding those who routinely achieve their stated objectives. Group50’s strategic consultants take an OGSM (objectives, goals, strategy, and measures) approach throughout the organization to deal with operating gaps and strategic gaps that define the required organization structure, skill maps, and performance management objectives. This step of the Business Hierarchy of Needs® is important, as skipping it will jeopardize the strategic execution.
IMPLEMENTATION An environment of continuous improvement is created based on global practices and process re-engineering, utilizing technology, automation, and cobotics. Once the strategies are completed, comes the implementation part of the Business Hierarchy of Needs®. Implementation techniques are dictated by the strategic consultants by the rate and magnitude of the required change, the size of the strategic gaps, and the level of automation required. This level of the Business Hierarchy of Needs®requires answering some questions like the establishment of a steering committee, placing a roadmap, and the interrelated project plans.
CLEAR AND UNBIASED PERSPECTIVE ON YOUR STRATEGY Group50’s strategic consultants use Business Hierarchy of Needs®as the underpinning for every implementation roadmap workshop. The consultants will provide you with a clear and unbiased perspective on your strategy, by contributing with fresh and new ideas. The consultants will get to know your business, your values, and hurdles, and provide you with guidance to improve and grow your business. Group50’s strategic consultants have wide expertise across a range of industry verticals, and you could be assured of your business success with personalized consulting for your business needs.