mtc2 ltd
  • Home
  • Time to Think
    • Time to Think Training
    • Thinking Partnerships Course
    • Foundation Course
    • Qualifying courses
  • Our Services
  • About Us
  • Blog
  • Appointments

The Business Coach

7/1/2019

0 Comments

 
​Our regular Business Coaching column in the Herald.  Read January's problem here if you didn't pick up the newspaper or access their website.

"I need a strategy for Brexit"

Question:  At the beginning of each year I fix my annual strategy but Brexit has stumped me.  What do I do?”  John

Answer:  My initial response is ‘Don’t panic Mr Manwairing!’ because with the lack of direction and leadership from our politicians, there has been a tendency to panic.   This prevents clear, considered thinking and good decision making.

The reality is that devising your strategy for the year ahead will be the same, if slightly more complicated, as for every year.  You know what your short, medium and long-term targets are and have existing plans in place to achieve those.  You’ll use the SWOT (strengths, weaknesses, opportunities and threats) analysis and the PEST analysis (political, economic, social, technical) to assess whether those plans need changing.  The likelihood is they will as none of us have a crystal ball so any assumptions you made at the beginning of last year may not have turned out to be true.

In relation to Brexit, if you haven’t done so already, you should know what exposure you have to/in the European market.  How much of your products or services are reliant on exports or imports, both in terms of the finished item and the supply chain.  With regards to your workforce assess how much exposure there is in terms of recruitment and skill sets.

Now check your plans against three scenarios: a no deal, a deal which allows for transition, or the status quo, ie staying within the EU.  How robust are they for each scenario?  What assumptions are you making?  How smoothly can you adapt as a business should your favoured outcome not be forthcoming?

It will take time and clear thinking and that’s where your leadership comes into play.  You need to ensure that everyone involved in the analysis and planning also retains clear thinking.  Remain rational and centred on the issue in front of you.  Engage a facilitator to help you do this if necessary: it’s useful to have someone who has no emotional involvement with the company or the issue who can help you maintain clarity of thought. 

Once you have plans for each of the scenarios ensure they are clearly communicated to the workforce.  The reassurance that their own leadership knows what they’re doing will help them better manage any transition.

(Names and details have been changed to protect confidentiality)
 
Now go to our Home page to discover how mtc2 ltd can help you!
0 Comments



Leave a Reply.

    Author

    Laura Murphy blogs about things that interest her.  They might not interest you but read them anyway.  It might even change your mind.

    Archives

    February 2025
    January 2025
    January 2024
    August 2023
    March 2023
    January 2023
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    February 2022
    January 2022
    November 2021
    July 2021
    June 2021
    April 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    May 2020
    April 2020
    February 2020
    November 2019
    October 2019
    September 2019
    July 2019
    June 2019
    April 2019
    January 2019
    December 2018
    November 2018

    Categories

    All

    RSS Feed

Pages

Home
Our Services
Coaching Leaders
Building Productive Teams
The Thinking Environment


Company

About Us
Contact
Blogspot
Privacy Policy
Mobile 0796 957 2964
Terms & Conditions
© COPYRIGHT 2015. ALL RIGHTS RESERVED.
Registered in England and Wales Company Number 6983529.  mtc² ltd is a member of the FSB and Eastbourne Unltd

  • Home
  • Time to Think
    • Time to Think Training
    • Thinking Partnerships Course
    • Foundation Course
    • Qualifying courses
  • Our Services
  • About Us
  • Blog
  • Appointments