ON September 28 at the University of Chester’s Warrington Campus the President of the Chartered Institute of Purchasing and Supply will be addressing members from across the North West region.

In an annual event the region is informed what the profession is doing across the world.

Understanding the broader context for the operation of your business is essential.

Many businesses, particularly smaller ones, have a tendency to look only towards their own local markets.

While listening to your customers is important, seeing the bigger picture is essential.

The changing global economy is going to catch up with your business eventually. The size of the impact on your operations of course will differ depending upon your business.

However, when you’re in the cut and thrust of daily trading it’s difficult to stand back and take a broader and longer-term view. Immediate demands put pressure on your time.

As the ancient Chinese General Sun Tzu is reported to have said: “Tactics without strategy is the noise before defeat.”

So while your tactics might be right for today, your strategy has to be right for tomorrow. When will you next pause to take in the business landscape?

  •  LAWRENCE Bellamy is associate dean at the University of Chester’s Padgate campus and writes a regular column for business.