Summary: Seven Vital Business Practices That Underlie Success in Business

We have completed our journey through the seven vital business practices that can help you achieve sustainable and enduring success.

  1. Define a Mission and Vision.
  • Establish a competitive advantage, or a “Reason to Be”.
  • Develop an effective Organizational Plan and Structure.
  • Build a Team that is strong, integrated and shares a common culture aligned with the Company’s Mission and Vision.
  • Create Strategic and Tactical Plans that combine long term business strategies with near term tactical plans that support achievement of the longer-term objectives.
  • Develop financial and operational Performance Objectives that quantifiably measure progress.
  • Embrace Change. Operating strategies rarely follow the projected path; create an organizational culture that is nimble and capable of adapting quickly.

Remember that these principles are not standalone elements. They are interconnected pieces of a puzzle, each vital in its own right and collectively forming the blueprint for lasting business success. Keep these principles at the heart of your business strategy, and you will significantly improve your odds of success. To your great success!

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