Only change initiatives that support the achievement of those critical business objectives should be implemented.
The more stakeholders can impact change initiatives seriously, the better chance the change will achieve or exceed the business expectations.
Value propositions from products/services, business models, brands: Business management needs to understand business value chain/stream from broader lenses, you need to gain empathy from various stakeholders about their specific needs, identify stories on the basis of value proposition, to generate and preserve "business value." You need to have a very clear idea of the development cycle of "product/service" and the overall "value proposition," in which it fits into the overall business value portfolio, and build a good strategy to drive value-added innovation.
Business value should be estimated or demonstrated through the rate of productivity increases, the rate of new product, service development, the rate of market share gains, the rate of customer approval and satisfaction gains, or the rate of sales gains, etc. and take the alternative value creation approach to accelerate performance and unleash business potential.
Change management via enhancing the cycle of thinking and acting: Too often people may take the easy path, think and work at a superficial level rather than spend the time on understanding what is going on underneath. Real change and improvement are deprogramming old mindsets, letting go of the outdated traditions or the voices from the past, predict future trends, rejuvenate creative energy, enhance a healthy cycle of thinking-acting-improving.
Insightful leaders or professionals gain an understanding of the past and the perception of the future as knowledge permits. They can practice strategic thinking, linking the future with the past and lead change by “keeping the end” in mind. Change is never for its own sake, but to solve problems. Insightful leaders and professionals can apply critical thinking to diagnose the root causes of real problems, and have a sense of urgency to fix real issues smoothly. They can also leverage systems thinking to harness change and lead a large scale of business transformation. As it helps you to embrace uncertainty, identify interconnections and interdependencies, spot business opportunities, and solve problems in a structural way.
Change initiative management via a system approach: Business initiatives are business actions and footprints to move from “as is” to “to-be” state of the organization. There is no technical challenge only, but a business initiative to solve problems. Developing a compelling strategic business case is especially critical when an initiative is difficult to monetize. Every strategic initiative, either at a functional level or corporate scope, has to make sure the business as a whole is superior to the sum of pieces. There are compelling stories developed around themes such as: How the initiative situates the organization within a growing market niche; how the initiative builds business processes that differentiate the organization from its major competitors; how the business initiative restores the organization to competitive parity by reversing erosion in customer loyalty and how the initiative ensures the organization’s compliance with regulatory requirements.
To improve the success rate of business initiatives, senior executives should say no to many of the initiatives and just choose a few where they will put most of the resources, people of the company to implement smoothly. It is an important perspective for building a solid business initiative program portfolio with prioritized initiatives, to strike the right balance of building strategic advantage, unique competency, and operational excellences of the company.
To effectively respond to the digital dynamics, companies must begin thinking about ways with strategic planning to broaden their ecosystems and revenue streams while becoming more responsive and scalable. Only change initiatives that support the achievement of those critical business objectives should be implemented. To keep eyes on what matters, business management needs to identify what generates the most value for the company and express that in strategic objectives, set the right priority, analyze potential pitfalls, improve business initiatives effectiveness and produce consistent high performance results.
Business value should be estimated or demonstrated through the rate of productivity increases, the rate of new product, service development, the rate of market share gains, the rate of customer approval and satisfaction gains, or the rate of sales gains, etc. and take the alternative value creation approach to accelerate performance and unleash business potential.
Change management via enhancing the cycle of thinking and acting: Too often people may take the easy path, think and work at a superficial level rather than spend the time on understanding what is going on underneath. Real change and improvement are deprogramming old mindsets, letting go of the outdated traditions or the voices from the past, predict future trends, rejuvenate creative energy, enhance a healthy cycle of thinking-acting-improving.
Insightful leaders or professionals gain an understanding of the past and the perception of the future as knowledge permits. They can practice strategic thinking, linking the future with the past and lead change by “keeping the end” in mind. Change is never for its own sake, but to solve problems. Insightful leaders and professionals can apply critical thinking to diagnose the root causes of real problems, and have a sense of urgency to fix real issues smoothly. They can also leverage systems thinking to harness change and lead a large scale of business transformation. As it helps you to embrace uncertainty, identify interconnections and interdependencies, spot business opportunities, and solve problems in a structural way.
To improve the success rate of business initiatives, senior executives should say no to many of the initiatives and just choose a few where they will put most of the resources, people of the company to implement smoothly. It is an important perspective for building a solid business initiative program portfolio with prioritized initiatives, to strike the right balance of building strategic advantage, unique competency, and operational excellences of the company.
0 comments:
Post a Comment