Standard Bank hosts strategic planning masterclass for SMEs

Standard Bank’s Business Incubator recently hosted a virtual masterclass titled ‘SME Strategy: From Planning to Execution’ to provide entrepreneurs and managers with tools to structure and implement business strategies.

Led by Cremildo Magaiza, a Strategic Execution manager at Standard Bank, the session addressed the difficulties small and medium-sized enterprises (SMEs) face when converting strategic intentions into organizational priorities. Magaiza emphasized that effective strategy requires making deliberate choices about resource allocation to avoid dispersion. He recommended that businesses focus on three to five structural initiatives to maximize impact.

The training also highlighted the importance of defining performance measures, assigning responsibilities, and transitioning from founder-dependency to formal decision-making processes. Continuous monitoring of results and risk management were identified as essential components for maintaining strategic integrity and driving business growth.