Tuesday, December 29, 2020

Initiative & Improvement

The more stakeholders can impact a change/initiatives seriously, the better chance the change will achieve or exceed the business expectations. All should be synchronized without compromising.

Contemporary businesses are overwhelmingly inundated by exponential growth of information and too many different types of business change management initiatives. Generally speaking, change is usually required when an organization is expanding its business, its mission, instilling a fresh culture, or installing/implementing some new technology. so there is no one size fits all approach to successfully managing change. 

To keep eyes on what matters, identify what generates the most value for the company and express that in strategic objectives, analyze potential pitfalls, set the right priority. Only initiatives that support the achievement of those objectives should be implemented. 

What do we need to know to achieve the purpose of business initiatives? Every business initiative is to achieve certain goals. There are two reasons to pursue change: Become better at what you do or be able to do something different. The enemy is not changing per se; it’s the change without focus or purpose. For strategic business initiatives, a vision provides the guiding light and direction. Without a clear vision, leaders often miss the big picture and become complacent or comfortable with the status quo, change either turns to be chaos or for its own sake. To lead change effectively, change leaders must think hard and make tough decisions on time, scientifically choose the number of change initiatives being launched and improve the overall success rate.

Any business initiatives especially change should be viewed as an "opportunity" for solving business problems, improving employee productivity, delighting customers, cutting costs or optimizing products/services/processes. To recognize the gap and clarify the destination, being willing and able to acquire various types of information begins with an understanding of purpose: What is it you want to achieve? Begins with an acceptance you do not know enough to achieve your purpose; knowing what questions to ask to close the knowledge gap. You recognize a gap in the knowledge you have and value in closing the gap seamlessly in order to realize positive outcomes.

Why do business initiatives produce unacceptable performance? There are various reasons for change management failure or business initiatives getting lower than expected business results, such as: Unclear goal/too many variables attached to it to make it more confusing. Fail to build cohesive and differentiated business competencies. Mismatch in requirement from a role and expertise of the candidate. Management ignoring the external environment or business ecosystem affecting the business, etc. In addition, to have sustained management support, businesses need to think hard about how their function can be performed in other ways. Organizational alignment is what is key to fully achieve corporate performance goals.

From a change management perspective, timing is critical to achieve high performance. Delaying changes can cause lots of unnecessary pains or turn a minor issue into a fatal problem. Changing too slowly will also stifle strategy execution and business growth. Change too fast perhaps has difficulty in sustaining the result - only change behaviors manually, not change the mindset behind it. To improve business performance, compelling business cases describe the initiative’s benefits and costs flow, how the initiative builds business processes that differentiate the organization from its major competitors; or how the initiative situates the organization within a growing and highly profitable product market niche.

How to ensure change meets expectations? Keep in mind, behind many critical business initiatives, there are numerous points-of-view and reference points of varying stakeholders. Any initiative, even though a very technical one should have a business objective associated with it. To manage end-to-end performance, it requires the necessity to establish clear, understandable and easily calculable metrics. There are both hard values that can be measured by dollars of cost saving or improving efficiency and soft values such as culture innovation and employee satisfaction. If these values have not been clearly identified at the outset, you cannot get the true alignment of your organization and all working toward the same goals and outcomes, and you lack clarity and purpose of direction.

For the large scale change initiatives, Business Architecture as a useful tool helps to identify gaps, assumptions, risks, etc, shape prioritization of the opportunities, level set scope, and approach. As culture, organizational alignment and communication, employee involvement and buy-in at the process are all critical elements in leading performance excellence. Ultimately, the success of the change program is measured by results that are important values to the organization, and the cultural adoption of these goals is part of that measure. ROI performance management should take into account both financial and non-financial measures, assessing internal improvements, past outcomes and ongoing requirements as indications of future performance. You must show the progress as you go along so that they can justify the investment.

Business is nowadays complex, to manage business initiatives successfully, the logical scenario and different information are needed to achieve high performance. The more stakeholders can impact a change/initiatives seriously, the better chance the change will achieve or exceed the business expectations. All should be synchronized without compromising.


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