Craig Lemasters is the CEO of management consulting firm GXG, speaker, and a former Fortune 500 subsidiary CEO. Working 27 years, 11 of which as the CEO leading global expansion projects for Assurant Solutions, Craig brings extensive corporate leadership experience to the podcast.
In this episode of our Strategy & Leadership Podcast, we're joined by Catherine Sherlock, the founder of Higher Mindfulness. Catherine developed Higher Mindfulness to help people take their awareness deeper in order to expand their self-expression, leadership skills and potential. This is important for business leaders because emotional awareness is a positive skill that helps leaders with clarity and decision making, which can help with conflict management, team engagement and other situations.
The BCG-Matrix is an effective tool which helps you with strategic planning and implementing your growth strategy by identifying and evaluating the most profitable products and strategic business units. Organizations can identify the current and future value of their products, as well as the best strategic approach to invest in order to increase profit, market share and return on investment. The BCG-Matrix is also called growth/share matrix because the market growth rate and relative market share are being considered. Therefore the revenue streams are positioned in a matrix of four quadrants, which were named symbolically and give an indication for recommendations on actions like investments or divestment.
As you grow your business, you are likely to find yourself with some common challenges. After working with hundreds of clients in many different sectors, we’ve found a few things that commonly need to be given more attention. If you’ve been successful so far, and ready for you next level of growth, focusing on these things will very valuable.
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Many businesses are seeing the advantage in undertaking expansions into global markets. But for businesses that have traditionally only operated domestically, making the strategic transition to access global markets can present a number of challenges. These commonly include, but are no means limited to cultural differences, local tax laws, human resources, and payroll.