“If you are a businessman, you always have a strategy,” Vasyl Khmelnytsky, founder of UFuture
Most UFuture holding projects are long-term, lasting 5 to 15 years. During this period, they have time to survive several crises: markets fall, then recover, then fall again. Having a 10-year strategy allows us to secure businesses and make them sustainable, writes Vasyl Khmelnytsky, the founder of the UFuture holding company, in a column for NV Business.
This approach is used by large manufacturing companies: Coca-Cola, General Electric, Huawei, Xiaomi.
"In general, people in China do not think for decades, as in the United States, but for millennia, epochs. And such planning makes it possible not to pay attention to crises,” Vasyl Khmelnytsky noted.
Today it has become very fashionable to say: “business strategy does not work”, “financial plan is not effective”. Like, the world is changing too fast, and long-term strategies are losing relevance. This is written in fashion books and talked about at expensive training.
But the truth is that when you are a businessman, you always have a strategy, and not one. Even coaches and book authors need a strategy to put their idea into action.
We have strategies for the year, for 5, and for 10 years. It is important to understand that strategy is neither a dogma nor a constant. It can, and moreover, must be flexible, change in the light of changing circumstances.
Being one step ahead of the market is a philosophy of leadership. At the same time, there is a universal philosophy of strategies. Here it is: to have today what everyone else will have the day after tomorrow. And due to this to be a leader.
Read more about the role of business strategies in entrepreneurship and approaches to their formation via the link.