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Why a Data-Driven and Unbiased Approach Is Best for Business Strategy

Sep 13, 2022 by ITR Economics 0 Comments
  Creating your business strategy is no easy task. So much of your time, effort, and resources go into it, and you don’t want to waste any of that by doing it the wrong way. In fact, strategic planning without accurate data behind it is pointless. But accurate data is where the experts at ITR Economics come in, helping you make your strategy the best it can be. Let’s take a look at how ITR Economics’ unique methodology can provide your company with the best business strategy.
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If You Want To Forecast The Future, You're Going To Need Accurate Data

  Paint an objective picture of your business by bringing the marketplace to your people One of the overlooked strengths of any company is its ability to look ahead. It’s not enough to see how it’s performing now or even what it has accomplished in the past. You need to constantly look to the future.
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Why It's Time To Give HR A Strategic Seat At The Leadership Table

  Talent is scarce and it’s going to get scarcer in the future. The value of companies will soon be tied to the value of their people. The ones with the best talent strategies will dominate their markets in the coming decade.
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OGSM — Objectives, Goals, Strategies, Measures

Aug 16, 2022 by John Williams 0 Comments
Zig Ziglar said “If you aim at nothing, you will hit it every time.” How many of you have no plan and no goals? How many of you have objectives and goals but no plan on how to achieve them? One more question and this is the most important. How many of you have objectives and a plan, but do not measure the results and actively share them? This is no different than the two teams that finally make it to the Superbowl only to find out there is no scoreboard, no timeclock, no down marker, nothing to measure how each team is doing and who is winning. Don’t underestimate the importance of Objectives, Goals, Strategies, and Measures. They drive results. They provide a roadmap for the organization. They also provide clarity to every single employee.
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Who Are The Upcoming Leaders In Your Company? — Creating A Leadership Succession Development Plan

May 3, 2022 by John Williams 0 Comments
    Most companies spend countless hours working on strategy, sales and growth plans, financial plans, and 5-year forecasts, also known as HIP (High-Involvement Planning™). They have numerous spreadsheets, presentations, and market data to support their plan. They bring in macro and micro-financial gurus to validate their information. The board approves the plan, and everything is ready to go.     Wait a minute. The company forgot to answer the most important question. Who will be responsible/accountable for making sure this gets accomplished? Do we have enough capable and available leaders to grow the top and bottom line 10%? Who is going to open and manage the new locations or the acquisition? Who is going to lead the new product launch? Good question/s. 
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Inflation and a Pricing Strategy For Success

Apr 28, 2022 by ITR Economics 1 Comment
Concerned about inflation? There are facts supporting the assertion that consumers will most likely be able to manage ongoing inflation and drive economic activity to new levels in 2022–23.
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The 2030s Great Depression: You Can Prosper in the Age of Decline

Apr 26, 2022 by ITR Economics 2 Comments
“A high probability exists that the decade spanning 2030–2040 will be one of lost opportunities, great economic distress, lost fortunes, deep regrets, and despair over what might have been. Protect yourself: Plan for this future…”
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3 Things to Consider During Times of Inflation

Prices are going up. We've all noticed it, and it's maybe even got us a little panicked. So, when can we expect to see inflation start slowing down? Well, expert economists are expecting to enter a period of disinflation and slowed growth in 2022 and 2023. Below we have listed ways economists are saying inflation will impact spending and business growth — something all business leaders should take a look at.
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How To Stay On Top of Runaway Inflation — When It Comes To Raising Prices, Timing Is Everything

Any time you write something and send it out into the world, it can be difficult to know if anyone paid any attention to it. While it’s always gratifying to see how many people hit the “Like” button on a blog, or how many views it gets, we think the real mark of whether a piece hits home or not is when people take the time to write comments or questions. When you get those, you know you might have hit a nerve.
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Should Business Owners Be Raising Their Prices Right Now?

We asked the President of The Great Game of Business, Darin Bridges if he thinks business owners should be raising their prices right now. His response, "hell, yes."   Protecting Margins Now, So You Can Fund Growth Tomorrow We've always had a saying at SRC. When the economy goes down — it's not the time to be asking for price increases. You've got to do it while the economy is going up. Everybody knows costs are going up right now — they're creeping up everywhere. We've heard the horror stories of the price of lumber, and surcharges keep emerging. It can be a scary thing, but within an inflationary environment, price increases are regular, and they're a crucial part of protecting margins. So how do you protect margins? This is where the whole idea of engaging your employees in the business and the finances comes together. Educating employees on how they make an impact and getting them to take ownership in what they do is so important. When they're aware of inflation and how that impacts the company, they're able to monitor expenses in their area of the business to help stay on top of costs. One man, one owner, one business leader can't do it all. You have to get your people to constantly and proactively find ways to reduce costs. Getting your costs under control and then going for the price increase will help maintain margins. You've got to be able to protect your margins to continue to fund growth, fund your people, fund the retention, and all the things necessary to see success for your business.
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About The Great Game of Business

Our approach to running a company was developed to help close one of the biggest gaps in business: the gap between managers and employees. We call our open-book approach The Great Game of Business. What lies at the heart of The Game is a very simple proposition: The best, most efficient, most profitable way to operate a business is to give everybody in the company a voice in saying how the company is run and a stake in the outcome. Let us teach you how to develop a culture of ownership, where employees think, act and feel like owners.