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1. Gaining Strategic Insight For Higher Profits

2. The success of a business is mainly determined by how
well it is managed. Good management includes many
things like effective marketing and considerate customer
service. Strategic insight that will increase the profit of a
business does not need to be extremely technical,
however, managers often get lost trying to work
everything out for their business. Strategy is also rather
a vague term that is often not properly understood.

3. Managers who have attended training courses may be
familiar with certain strategical concepts that are known
to improve the way a business is run, both internally and
externally. One makes use of a few circles, and is a
simple tool that is used to display the relationship
between a business and its clients. This representation
can assist managers when it comes to decisions as well.

4. The following is an easy explanation of how the three
circles can play a significant role in the operation of your
business. The managers of the team will first
concentrate on the first circle, and this one is for the
needs of their customers. It will determine what the
customer values most, perhaps in terms of time or
services, etc. When a business explores what their
customers need most improvements can be made.

5. Once the first circle's details have been completed the
managers can move on to the second. This circle is all
about how the managers feel their customers view the
business' operations. Now the two circles will overlap,
and the extent to which this happens will depend on
how well the company is meeting the customer's needs.
The managers should keep in mind, even if they are part
of a well-established company, that customers don't
always voice their opinions.

6. It is usually the case that an entrepreneur or business
must work out what product or service will be
profitable. Customers won't say much about what they
want, but they will buy products that may significantly
improve their lives. If a company can sell something that
offers many benefits, they will surely be successful. A
need that is not voiced by a customer could be a huge
opportunity for a company.

7. The last circle needs to contain ideas that relate to how
the customer interacts with companies that provide
similar services or products. Perhaps your competitors
meet your customers' needs more effectively, and the
third circle allows you to see this more clearly. Every
circle in the equation is important for gaining that
competitive edge.

8. Many questions should be asked whilst filling in the
empty circles. By answering different sorts of questions
the team leaders will easily be able to place relevant
information. Questions can also inspire interesting
conversations that can lead to positive outcomes.

9. Strategic insight also encourages a business to look more
closely at their existing services. Finding out more about
customers may lead to the discovery that certain
services are actually negatively viewed. With all the
collected information, much can be done in terms of the
growth and development of the company.

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