A high potential organization can grow, innovate and transform by taking a systematic approach to identify and develop potentiality into a more solid form and transform it into differentiated business competency.
Individuals can unleash their potential by uncovering their innate talent, learning continually, and managing time scientifically. In the organizational level, the importance of potentiality management depends on how and what the organization is utilizing the potential for and how to invest the collective potential for building the unique business competency.
Information potentiality: In the digital era, information potential directly impacts the potentiality of the company. Information brings about business ideas; business ideas generate lots of information. Information is the gold mine of business, the quality of intelligence depends greatly on the quality of information and the effectiveness of information management. The potential value of information depends on how the information will be used again in the future for either running a business or managing innovation in a structural way. Information potential is an investment, for catalyzing information-enabled innovation, improving revenue, and catalyzing business growth. It will be those companies that proactively invest in information management solutions today will be able to competitively leverage their own information going forward, refining information to business foresight and customer insight for unleashing business potential.
In reality, information/knowledge management in many organizations are too hierarchical, too centralized for moving with faster speed. It’s important to create conditions that allow information to flow and generate value rather than try to manipulate or control information. When information gets stuck, innovation is stifled and business stagnates. With the introduction of information and application of intelligence, it is the aggregation and assessment of information that creates the intelligence required to predict trends with a fact-based vision of where to aim and how to get there, defining the rules and strategies in driving the business forward effectively. Unleashing information potentiality needs to be the scientific management discipline to achieve long-term success.
Resource potentiality: Organizations have limited resources, resource management becomes a bottleneck for developing corporate potentiality. Balancing or rebalancing; realigning, or recycling resources to build organizational capacity is a crucial step in enabling strategy implementation and innovation management to maximize business potentiality. Successful resource management is critical to ensure that resources are available before they are needed. It’s critical to set up priorities, divest non-core capabilities, free up resources that can be used to and deepen core capabilities in order to unlock organizational potential, and stretch the unique strength continuously
There are hard and soft resources, resources include technological, financial, reputational, market structure and institutional assets, etc. Oftentimes, the enterprise capability design and configuration is uniquely challenging because of resource limitations or other business constraints. Effective resource management cycle includes acquiring/releasing resources structurally to pre plan/plan for the multitude of business management with the right prioritization setting; aligning/realigning resources dynamically to adapt to the change accordingly; and continually explore/deplore resources in the organizational system for improving business capacities and capabilities. It helps the organization take advantage of resources effectively, optimize cost, and strike the right balance of “running, growing and transforming” business steadfastly.
People potential: People are always the most crucial success factor of any organization. Identifying and exploring talent potentiality is both art and science. There are resources of the individuals who comprise the firm, such as knowledge, education, training, insights, experience, etc. People are also the most crucial human capital the company needs to invest in. Even though the raw talent is innate, it takes the immense amount of time and hard work that "naturally talented" people have committed to developing their talents and building their professional competencies such as creativity, problem-solving competency etc. Organizational management needs to unleash people's potential just like the gardeners nurture their plants and develop their unique strengths based on the hidden potential each employee has if given the opportunity to excel within the work environment.
There are both cognition and emotion involved, hard and soft elements in creating potentiality development formulas. Discovering potentiality and developing talent are continuous efforts and distinct actions for progressive business professionals and contemporary organizational management. It’s important to nurture the right environment to grow a natural affinity into "talent,“ believe in building talent, where it would otherwise be underutilized or dormant. When you identify and develop human potential, make sure people get placed into the most conducive environment where they can flourish and make the maximum contribution not just to the business but to their own career. The goal of smart workforce planning and management is to create synergy and unlock business potential by perceiving people via empathetic lenses, understanding their characters, strength, and core competencies, as well as putting the right talent in the right position to solve the right problems.
A high potential organization can grow, innovate and transform by taking a systematic approach to identify and develop potentiality into a more solid form and transform it into differentiated business competency. Forward-looking digital organizations explore new possibilities and unlock the variety of organizational potential to perform in the future so that the business does not only “earn enough from today,” but “thrive in the future.”
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