Fine Enterprises, Inc.
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by Alan Fine

Rapid technological, geo-political, and socio-economic change seems to be the new millennium reality altering whole industries and obsoleting others in the blink of an eye.  As a result, markets and economies are undergoing rapid, broad-based transformations.  Business is challenged not only to pay attention, but also to face these changes head on.  This requires the formulation and implementation of effective strategies to not only ensure survival, but position companies to take advantage of the dynamic growth opportunities of the new economy.  The following is an eight-step framework for accomplishing this goal.

STEP 1: Crafting the Vision

When valuing a business' worth, the most important factor is the future prospects for the company—because the future is what the shareholders are buying into.  Anything that creates a risk to the future income stream diminishes the company's potential and, therefore, diminishes its value.  As a result, business leaders should continually ask themselves, "How do I maximize my organization's value?"

Maximizing value begins with a vision that describes the kind of company that you want to become and the customers that you will satisfy in the future; a mission statement that explains your business and describes the markets that you currently serve; and a value statement that describes the principles underlying your business conduct.  Underlying this should be substantive research.  This is the foundation upon which great companies are buit.

STEP 2: Translating the Vision into Objectives

Objects are the building blocks of a vision.  If achieved, they will no longer render your vision a hypothetical possibility, but instead a stark reality.  Sound transformational objectives are specific, meaningful, measurable, time-based, and realistic.  Specific in that they can be understood.  Meaningful in that they clearly and directly apply to your vision.  Measurable in that you know at what point it has been achieved.

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