Mid-Market Outlook: Taking Stock of your Company’s Strategic Plans
Mid-market perspectives blog: Growth enterprise services
Posted by Tom McGee on December 20, 2012
It’s common practice for businesses to plan or conduct inventory counts as the end of the calendar year approaches. But have you thought about conducting a strategic inventory – taking stock of the plans and processes your company has in place (or may need) to deal with marketplace issues that can impact growth and profitability?
Certainly the looming fiscal cliff is top of mind for most American businesses. As I write this, there is an expectation that some type of compromise will be reached in enough time to avert a financial crisis. But do you have a plan in place in case that doesn’t happen?
Executives who have responded to our recent surveys have indicated they are focusing on building their cash balances and their number one growth strategy is organic growth in existing markets, particularly growth based on the development of new products and services, with fewer executives expecting their companies to grow through acquisition. Do these actions align with your own company’s plans? If not, should they be considered?
Talent is another area with strategic impact on company performance. In fact, 59 percent of executives polled in our most recent survey attribute their companies’ success to a dedicated and committed workforce; in another survey last spring, a majority of respondents told us that investments in talent offered the greatest potential to increase their companies’ productivity. Does your company have a strategic plan around talent management?
Planned and proposed changes in the tax laws are also on the horizon, including the Affordable Care Act's new net investment income tax, effective January 1, 2013. Have you considered the implications of these changes for your company? You can click here to view a recent Deloitte Dbriefs webcast about these new regulations.
As 2012 draws to a close, I would like to extend my best wishes to all mid-market companies for a prosperous New Year as you continue to move America’s economic engine forward.