The more stakeholders can impact change initiatives seriously, the better chance the change will achieve or exceed the business expectations.
Implementation is difficult, because all the key ingredients such as leadership, communication, capability, performance management systems/rewards, etc, in it have mixed flavors. Those business initiatives at the strategic level are not isolated, but require a holistic management approach to realize strategic goals and produce high performance outcomes..
Insightful business management can provide a viable pathway into seamless alignment, process optimization and dynamic competency shaping: Implementation of business initiatives needs to take a structural effort with both “push & pull” factors to align, implement, and measure results effectively. However, many organizations are operated as a sum of pieces, with frictions, conflicts, process complications or, change inertia. Misalignment is usually caused by silo thinking, miscommunication, lack of cross-functional understanding and collaboration, or simply wrong people put in the wrong position to solve the wrong problems.
To improve business initiative success rate at a strategic level, leaders must be willing to display the courage and determination required to pull resources & people together, continually push the initiative forward to achieve the desired goal. It takes greater transparency, trust, and cross-functional collaboration, optimized process, expectation management, sponsorship from C-Level peers and buy-in from staff.
Initiative Portfolio Management provides an “executive” view including impact analysis, reporting and alignment to strategy: Portfolio management should focus on establishing leadership principles and systematic management discipline, do periodical business initiative portfolio oversight, set the right priority, streamline business resource, process, talent, capability, capacity to improve portfolio management effectiveness. The management needs to do impact analysis, set key performance indicators, and align the business activities that have a three-way impact - revenue, cost and investments.
The executive view of portfolio management perhaps includes things like portfolio rationalization, road mapping, operational reliability metrics/dashboard, and human capital investment. The strategic oversight clarifies a vision reflecting the “mind and soul” of the company, providing program/project guidance, rather than micro aspects of the projects. A healthy business initiative portfolio management enhances both growth and balance cycle of business via constant participation, adaptability, expansion, integration, innovation, and optimization.
It's important to generate distinct alternatives that could pursue strategic objectives: The digital era upon us is about people and options. It is the thorny path from strategic vision to implementation excellence; there’s alternative routes to take the journey for achieving the best results. It means even though there’s only one destination, it may take a multi-route to get there. Besides best practices, lessons learned are always important to improve business initiative management effectiveness.
In practice, business leaders should have a solid grasp on what has been tried before and analyze why those initiatives didn’t succeed, what consequences can be created through actions, etc. They can lay out different thinking, structures, and solutions, select the best option, and develop business potential holistically. Information is one of the most important business assets, it’s important to drive information-based analytics and data-driven behavior, it’s even more critical to embed predictive actions into repeatable business processes to improve business management agility and speed.
Business initiative implementation is no longer a linear step, but a dynamic business continuum. The very goal of business initiative management is to set the right priority, align key success factors of the business, streamline business resource, process, capability, capacity to improve overall organizational effectiveness and maturity. The more stakeholders can impact change initiatives seriously, the better chance the change will achieve or exceed the business expectations.
Insightful business management can provide a viable pathway into seamless alignment, process optimization and dynamic competency shaping: Implementation of business initiatives needs to take a structural effort with both “push & pull” factors to align, implement, and measure results effectively. However, many organizations are operated as a sum of pieces, with frictions, conflicts, process complications or, change inertia. Misalignment is usually caused by silo thinking, miscommunication, lack of cross-functional understanding and collaboration, or simply wrong people put in the wrong position to solve the wrong problems.
To improve business initiative success rate at a strategic level, leaders must be willing to display the courage and determination required to pull resources & people together, continually push the initiative forward to achieve the desired goal. It takes greater transparency, trust, and cross-functional collaboration, optimized process, expectation management, sponsorship from C-Level peers and buy-in from staff.
Initiative Portfolio Management provides an “executive” view including impact analysis, reporting and alignment to strategy: Portfolio management should focus on establishing leadership principles and systematic management discipline, do periodical business initiative portfolio oversight, set the right priority, streamline business resource, process, talent, capability, capacity to improve portfolio management effectiveness. The management needs to do impact analysis, set key performance indicators, and align the business activities that have a three-way impact - revenue, cost and investments.
The executive view of portfolio management perhaps includes things like portfolio rationalization, road mapping, operational reliability metrics/dashboard, and human capital investment. The strategic oversight clarifies a vision reflecting the “mind and soul” of the company, providing program/project guidance, rather than micro aspects of the projects. A healthy business initiative portfolio management enhances both growth and balance cycle of business via constant participation, adaptability, expansion, integration, innovation, and optimization.
In practice, business leaders should have a solid grasp on what has been tried before and analyze why those initiatives didn’t succeed, what consequences can be created through actions, etc. They can lay out different thinking, structures, and solutions, select the best option, and develop business potential holistically. Information is one of the most important business assets, it’s important to drive information-based analytics and data-driven behavior, it’s even more critical to embed predictive actions into repeatable business processes to improve business management agility and speed.
Business initiative implementation is no longer a linear step, but a dynamic business continuum. The very goal of business initiative management is to set the right priority, align key success factors of the business, streamline business resource, process, capability, capacity to improve overall organizational effectiveness and maturity. The more stakeholders can impact change initiatives seriously, the better chance the change will achieve or exceed the business expectations.
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