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How Businesses Can Be More Proactive in Developing Strategies

  • Companies need to always be aware of how to respond to changing business conditions
  • Data access company CEO offers tips on having a more proactive mindset
  • Three core practices to make a company better suited to meet challenges

Summary by Dirk Langeveld

Even when you’ve established a successful business, you’ll always have to be aware of how you can respond to changing conditions. Shifting consumer patterns, emerging competitors, or even disruptive events like the COVID-19 pandemic can force you to change your business strategies in order to stay relevant and resilient.

Heine Krog Iversen, founder and CEO of the data access company TimeXtender, recently wrote in Forbes to discuss his company’s experience in developing proactive strategies. He said proactive practices vary based on factors such as industry type and company size, but that three business practices can help companies to improve their operations.

  • Improving corporate culture allows you to identify a clear purpose as well as your core purposes and beliefs
  • Streamlining processes to improve speed, reduce cost, and realize other benefits
  • Communicating across multiple platforms, including regular updates on the company website, social media, and other channels

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