Thursday, April 1, 2021

Business Levers to Lift Growth Cycle

By pulling the various business levers, you will get very great chances and opportunities to change your organization in many fields and lift up the organization to the next cycle of growth and maturity.

We are living in a complex world where inventions, developments, and conflicts are continuously changing and that makes it impossible to have a complete knowledge and understanding of many issues facing the business today. 

A digital organization as a dynamic business ecosystem can bring greater awareness of intricacies and the systemic value, increase technological touches, streamline resource alignment, practice information power, optimize business processes, and pull the variety of business levers to drive transformative changes and get digital ready.

Pull the structure lever to enforce business flexibility:
The traditional pyramidal structured organization brings up a certain level of efficiency, but an overly rigid hierarchy enforces silo and stifles information/idea flow. To be a highly functional and adaptive system, the hierarchy must balance freedom and responsibilities, and strike the delicate balance between solid and flow. Forward-looking organizations experiment with different types of organizational structures and functional layout. There must be enough central control to achieve coordination toward the large-system goals and enough autonomy to keep all subsystems functioning, flourishing, and coordinating. The management needs to check up: Does the chain of communication flow frictionlessly, or does it stop at one level? Can the organizational official structure and unofficial structure co-exist antagonistically or harmoniously? Are cross-functional teams able to handle all value-adding steps in the whole flow of work, co-develop solutions to complex problems and build a unique set of business capabilities? Etc.

To expedite business performance, pull the structural lever, also look at all key business elements, including the human element, as an integrated system and functions as an organic living thing. Individual work and group work cannot be done as a segregated form but within a framework of an entire business ecosystem including policies, systems, processes, culture, and customers, etc. Being intentional about tuning organizational structures, developing processes that encourage cross-functional collaboration and enforcing business flexibility, construct and enact a people-centric organization.

Use IT as a lever to achieving strategic business goals: Nowadays information technology is a competitive advantage. Information comes from the analysis of fast-growing data, technology allows for the capture, manipulation, and presentation of information. In today’s digital dynamic and technical environments in which IT is being used more and more around the globe for revenue generating initiatives and in fact, business is becoming IT. IT needs to spend more resources on creating unique competency for driving business growth; truly understand stakeholders’ expectations, and propose a products/services/solutions portfolio that corresponds to both demand and cost drivers with a focus on business priority and achieving strategic business goals.

An evolving digital IT is a lever to move the business forward. In fact, Information and Technology and its associated methodologies and practices are parts of the leverage mechanism to bridge the multitude of business gaps, implement digital strategies, modernize and integrate business processes, and build a cohesive set of business competencies. To shape IT enabled organizational capacity and capability on demand, IT management must ensure that application development does not proceed without a "clear business rationale"; and bring value to the company with continuous deliveries consistently. The collections of IT driven business initiatives and programs help the company achieve its targeted performance.

Leverage inclusiveness as the lever to spark creativity:
We can learn a lot from different mindsets (thought processes), cultures and positions, so organizations as a whole can be competitive enough to keep surging further. Leaders should always look for capabilities and skills that they don't have so that they can build a winning team and complement each other. Orienting people and making them aware of the inclusiveness in their organization or team, help them understand the value of harnessing the unique competency and cognitive difference, and then, giving them the tools and experience of how to effectively communicate and build trust in a dynamic digital working environment. The most innovative working environment and the most advanced societies are diverse mixtures of peoples that can think differently, spark creativity and amplify innovation impact.

In this globalized world and market, inclusiveness is the quality of the organizational environment that maximizes and leverages the diverse talents, backgrounds and perspectives of all employees. Those businesses that are unwilling to genuinely embrace inclusiveness, are unable to know how to tap their diverse resources. If inclusiveness is not embedded in your business culture and the change or management mechanism, sometimes, such practices even divide your workplace further. The business leaders must work with the right mindset to create an inclusive organization with every dip in the business lifecycle, from individual thinking to collective mind (culture); from strategy to execution; from process management to performance measurement, to make it both the principle and practice.

Unlocking business potentiality is the worthy investment and hidden dimension to explore the emerging opportunities, design new business models, and investigate different paths for expediting changes and accelerating business growth. By pulling the various business levers, you will get very great chances and opportunities to change your organization in many fields and lift up the organization to the next cycle of growth and maturity.


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