Austin Trahern is an industry leader and revolutionary marketing influencer who is having years of experience in the corporate world. He is completely a business tycoon who is currently focused to give assistance and clarity to those who want to start their own business.
Being an expert in the business industry, he knows how to grow the brand, positions it in the marketplace, generates new leads as well as maintains long term relationships with clients. Colorado-based, Mr. Trahern is also an expert in promoting business.
Here, the serial entrepreneur, Austin Trahern explores why it is important to strategize Sigma principles in the growth of the business. He also presents the five main sigma principles and explains the effectiveness of improved disciplined processes in a business environment.
Sigma Principles for establishing Business Strategy
The define stage
It sets the blueprint for the strategy” says an expert strategist. In this stage, executives define the current status of the company, how it is presently operating and the current market or economic situation. Tools and techniques such as PEST (political, economic, social and technical trends) and SWOT (strength, weakness, opportunity, and threat) analysis are used to define a company's current position in the overall market. The vision, mission, and values of the company is also defined and verified here.
The measuring stage
It confirms the current baseline operation where the data is gathered to show how the company is tracking” reveals Mr. Trahern. Financial performance and internal growth of customers as well as of competitors are reviewed using stock market data, balance sheets, cash flow statements and return on investment.
The analyze stage
According to Austin Trahern “careful analysis of the business and the market will help leadership determine the best strategy for the company. The data gathered from the above stages are used to help root cause investigation of gaps in performance, competitor strategy, product cycle stage and positioning, and market growth” says a business leader.
The improve stage
In this phase, the strategy needs to be continuously improved as a customer, economic and technical factors change” suggests Mr. Trahern, a business professional. It should be clear from the previous documents and information of the above stages, what areas of the business need to improve. Executives’ brainstorm ideas to drive the company forward using their experience and knowledge of the company, the competition and of the industry.
The control stage
Austin Trahern continues “it is important to closely monitor and manage company performance against strategy. This is to ensure that the company is following the path where the business owner wants to take. During this phase, executives create a control plan for the business’s strategy as well as decide on how often they will meet as a team to review and reassess the business strategy.
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