It is a continuously changing world with “VUCA” new normal, and no organization can afford to stick to its old ways of problem-solving. All stakeholders are part of the game.
Opportunities and risks are inherent in every venture of the business, and running a business is fundamentally a problem-solving continuum via a healthy strategy management cycle. Trying to fix the wrong cause of a problem will waste talent, time, and resources, increase anxiety, and cause chaos. Here is a series of steps in complex problem-solving scenarios.
Hierarchy of variables/functions /disciplines are addressed - understand root causes, why, what and how? Make a strategic movement by taking a systemic approach: Due to unprecedented uncertainty and high velocity, many of today’s problems are over-complex and hyper-connected. Too often people may take an easy path, think, and work at a superficial level rather than spend the time to understand what is going on underneath. Silos cause slowness and small-thinking, further create cross-boundary communication and collaboration gaps. It takes a structural approach to weighting variables, understanding causes, and fixing many of today’s nonlinear complex problems without causing some side effects - creating a set of new problems and decreasing business effectiveness.
Statistically strategy has a very low success rate. Most companies fail at execution because they have no clear processes, nor understand the linkage required to work horizontally across departments, or take a holistic approach to implement a strategy. The common issues include such as, the company’s core capabilities do not fully support the company’s strategy, or their company has not allocated resources in a way that really supports the strategy, etc. They perhaps fix the symptoms from a functional perspective, without deepening the relationship between parts within that whole and grasping the complexity and interdependence of problems, etc. The more effortlessly you can align, integrate, and optimize the important business factors inside an organization, the closer you can solve crucial problems and accelerate performance.
Outputs are optimized with limited resources, you cannot maximize all variable reward schemes and outputs at the same time: Organizations have limited resources and talent, business management needs to make an objective assessment of their resource availability and allocation by asking: how many resources will you need and to what extent are these resources available to build desired capabilities, seek to determine whether the deficiency derives from any particular dimension - different resource types, etc. It is essential for the entire company to be pulling in the right direction by allocating resources, time, and assets scientifically. In practice, many businesses took a big bite of resource to keep the lights on, only leaving very little for growth and business transformation. Resource management becomes a very bottleneck for digital transformation success, rebalancing resources helps the organization take advantage of resources effectively, and outputs are optimized with limited resources.
Recognition and reward is part of performance management, performance management and strategy management go hand in hand. Lack of recognition causes low-level of employee engagement, discourages change and innovation, and produces business incoherence. The management needs to check: Is our reward scheme based on that fact, to drive right behavior, based on greater good? Do we accept and understand that, emotionally and intellectually? A recognition system and high visibility for all positive contributions will help in creating a high performance culture and developing a high performance business.
Balanced view of external and internal risks and opportunities - who has the right to ask questions to open options, and knows when to shut up to close and move on? Governance is a vector of quality, for both the maturity of business processes and outcome. Foster a governance process to ensure key stakeholders have input into planning, allocation, and commitment of resources to either prevent problems or solve problems effectively. Policy-making is part of GRC discipline. Eventually, as the company grows, so will the need for standard policies and procedures. Not just to cover the risk management, but to create a risk intelligent environment in which change can excel within the constraints of the hierarchy of the organization.
Opportunities and risks are coexisting. Ad hoc change is doomed to fail. Effective governance mechanism is a critical leverage point for the business to facilitate the successful functioning of an organization while ensuring there are adequate controls in place to operate responsibly in accordance with its business values and strategic goals and skillfully apply risk-based thinking to almost every discipline of business management. It’s important to integrate GRC into the everyday business model and move the organization a couple of steps forward in business excellence. The effective GRC effort shouldn’t stifle change or innovation. Rather, they have built the right mechanism to solve right problems and lead transformative changes effortlessly.
Obstacles are removed, and maturity /capacity /core competencies are accelerated: Competency identification either individually or collectively is an important leverage point for maximizing business potential. The management needs to ponder around: culture, consciousness, communication, nomenclature, knowledge, ego, do we address these topics openly, in a transparent way, in the 21st century? One of the beauties of working with capabilities is that it keeps you from being dragged into all the detail of the processes involved too early, allowing you to prioritize and focus on the “bigger picture,” and enabling strategy implementation.
There are gaps existing in capability development because there are no mechanisms to handle risks or uncertain situations, the unrealistic designs that could not be implemented in the organizational system. You need strong GRC disciplines that help executives and management perform a risk analysis, and harness connectivity (communication, coordination, and control). It's critical to communicate, challenge, debate, learn, and open dialogue to close blind spots and bridge cognitive gaps. In fact, culture, consciousness, communication as the soft skills have to be integrated into the hard problem-solving competency.
It is a continuously changing world with “VUCA” new normal, and no organization can afford to stick to its old ways of problem-solving. All stakeholders are part of the game. A systematic approach to problem-solving should be made from a much broader and encompassing view that is not possible with linear thinking. And effective strategy management is an iterative strategic problem solving continuum to bring up higher than expected business results with strong GRC discipline.
Hierarchy of variables/functions /disciplines are addressed - understand root causes, why, what and how? Make a strategic movement by taking a systemic approach: Due to unprecedented uncertainty and high velocity, many of today’s problems are over-complex and hyper-connected. Too often people may take an easy path, think, and work at a superficial level rather than spend the time to understand what is going on underneath. Silos cause slowness and small-thinking, further create cross-boundary communication and collaboration gaps. It takes a structural approach to weighting variables, understanding causes, and fixing many of today’s nonlinear complex problems without causing some side effects - creating a set of new problems and decreasing business effectiveness.
Statistically strategy has a very low success rate. Most companies fail at execution because they have no clear processes, nor understand the linkage required to work horizontally across departments, or take a holistic approach to implement a strategy. The common issues include such as, the company’s core capabilities do not fully support the company’s strategy, or their company has not allocated resources in a way that really supports the strategy, etc. They perhaps fix the symptoms from a functional perspective, without deepening the relationship between parts within that whole and grasping the complexity and interdependence of problems, etc. The more effortlessly you can align, integrate, and optimize the important business factors inside an organization, the closer you can solve crucial problems and accelerate performance.
Outputs are optimized with limited resources, you cannot maximize all variable reward schemes and outputs at the same time: Organizations have limited resources and talent, business management needs to make an objective assessment of their resource availability and allocation by asking: how many resources will you need and to what extent are these resources available to build desired capabilities, seek to determine whether the deficiency derives from any particular dimension - different resource types, etc. It is essential for the entire company to be pulling in the right direction by allocating resources, time, and assets scientifically. In practice, many businesses took a big bite of resource to keep the lights on, only leaving very little for growth and business transformation. Resource management becomes a very bottleneck for digital transformation success, rebalancing resources helps the organization take advantage of resources effectively, and outputs are optimized with limited resources.
Recognition and reward is part of performance management, performance management and strategy management go hand in hand. Lack of recognition causes low-level of employee engagement, discourages change and innovation, and produces business incoherence. The management needs to check: Is our reward scheme based on that fact, to drive right behavior, based on greater good? Do we accept and understand that, emotionally and intellectually? A recognition system and high visibility for all positive contributions will help in creating a high performance culture and developing a high performance business.
Balanced view of external and internal risks and opportunities - who has the right to ask questions to open options, and knows when to shut up to close and move on? Governance is a vector of quality, for both the maturity of business processes and outcome. Foster a governance process to ensure key stakeholders have input into planning, allocation, and commitment of resources to either prevent problems or solve problems effectively. Policy-making is part of GRC discipline. Eventually, as the company grows, so will the need for standard policies and procedures. Not just to cover the risk management, but to create a risk intelligent environment in which change can excel within the constraints of the hierarchy of the organization.
Opportunities and risks are coexisting. Ad hoc change is doomed to fail. Effective governance mechanism is a critical leverage point for the business to facilitate the successful functioning of an organization while ensuring there are adequate controls in place to operate responsibly in accordance with its business values and strategic goals and skillfully apply risk-based thinking to almost every discipline of business management. It’s important to integrate GRC into the everyday business model and move the organization a couple of steps forward in business excellence. The effective GRC effort shouldn’t stifle change or innovation. Rather, they have built the right mechanism to solve right problems and lead transformative changes effortlessly.
Obstacles are removed, and maturity /capacity /core competencies are accelerated: Competency identification either individually or collectively is an important leverage point for maximizing business potential. The management needs to ponder around: culture, consciousness, communication, nomenclature, knowledge, ego, do we address these topics openly, in a transparent way, in the 21st century? One of the beauties of working with capabilities is that it keeps you from being dragged into all the detail of the processes involved too early, allowing you to prioritize and focus on the “bigger picture,” and enabling strategy implementation.
There are gaps existing in capability development because there are no mechanisms to handle risks or uncertain situations, the unrealistic designs that could not be implemented in the organizational system. You need strong GRC disciplines that help executives and management perform a risk analysis, and harness connectivity (communication, coordination, and control). It's critical to communicate, challenge, debate, learn, and open dialogue to close blind spots and bridge cognitive gaps. In fact, culture, consciousness, communication as the soft skills have to be integrated into the hard problem-solving competency.
It is a continuously changing world with “VUCA” new normal, and no organization can afford to stick to its old ways of problem-solving. All stakeholders are part of the game. A systematic approach to problem-solving should be made from a much broader and encompassing view that is not possible with linear thinking. And effective strategy management is an iterative strategic problem solving continuum to bring up higher than expected business results with strong GRC discipline.
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