THE ability to define, articulate and implement strategy is key to achieving business profit and value.

All businesses have their own individual plans which include a mix of short and long-term goals, often being a blend of operational and strategic. Regularly standing back from the day-to-day operational detail of a business to develop or update a clear long term strategy is central to business success.

Baker Tilly regularly works with clients to help them develop a winning strategy, which focuses on six key steps.

Define your strategy – this reflects business aspirations and goals, clarifying its strategic objectives.

Plan the approach the business is going to take to achieve those objectives – in other words the commercial route to achieving its objectives.

Understand the financial implications – linking strategy to financial performance and planning, understanding what drives profit and value in the business.

Clearly articulate and communicate the business strategy and commercial game plan to the business, ensuring everyone in is pulling in the same direction and are aware of their responsibilities.

Focus on the projects that will have the greatest impact in achieving the business goals.

Annually review and adapt, based on experience and changes in the business and its marketplace.

To find out more about how Baker Tilly can help you, contact Mike Blain, managing partner, on 01256 486800 or email michael.blain@bakertilly.co.uk