According to the case study solution, in order to manage their businesses effectively, small businesses must make a “strategic decision-making plan” that contains a clearly defined goal that is easily measurable in a way that enables them to make a strategic decision and set achievable, specific goals. A “strategic decision-making plan” is one of the many case study solutions published by the Harvard Business Review aimed at helping business leaders gain a better understanding of how to increase business performance.
In this case study solution, Case Study Solution # 5 outlined the strategic planning process, or CSP, as a “finite system.” A company can only successfully create a CSP when it understands that the process of generating different choices is itself dependent on the past choices of other companies, and that no viable choices exist without the prior and ongoing choices of other companies.
The first of the two roads diverged in a wood is the road of “What to Do,” which leads to the second road, which is “How to Do It.” In order to get past the first road, businesses must be able to examine their current situation, identify existing risks, and identify how those risks affect what they do. They must also decide how to mitigate those risks.
The second road, “How to Do It,” follows from the first road. The decisions made in the first road include making choices that will result in a change in strategy, which will likely have a negative effect on their current business, and making a new strategy, which will likely lead to an improvement in performance or business growth.
In a case study solution, Case Study Solution #4 outlined how leaders and managers in small firms need to be able to draw on the knowledge of others who have already developed successful strategies. “By learning from other leaders and managers,” the Case Study Solution suggested, “leaders and managers can continue to hone their own skills and turn those into valuable lessons.”
In another case study solution, Case Study Solution #3 stated that leaders and managers must identify, communicate and share the key reasons why they need to change, and then implement the changes they need to see if they are indeed changing their business strategies. Once they have discovered what they need to change, they must then make clear choices and be able to stick with them.
In Case Study Solution #2, a case manager for a small manufacturing firm must identify and communicate his or her vision. In addition, he or she must make clear, honest choices that create the needed change, communicate those choices to the staff, and stick with those choices.
Case Study Solution #1 contained the example of a shipping company whose leaders must first develop a clear plan, then make decisions based on that plan. This case manager identified “the bottleneck to change” in this example: “The danger of not having a plan” and his or her inability to articulate “the benefits of change.”
Small businesses must constantly develop and test the information provided by the strategic planning process in order to find the path that will take them to success. In this case study solution, Case Study Solution #2 presented the case of three small manufacturers who used a case study to examine the benefits of using Case Study Solutions.
Each of the three cases provided different benefit outcomes from their use of Case Study Solutions. These businesses shared what made them most successful and provided a cautionary tale about how the Case Study helped them understand the decision-making process more fully.
Therefore, Case Study Solutions is extremely useful for helping small firms become more effective at using the planning process. required to manage their businesses efficiently and to achieve both short and long-term success.