Companies with an effective business initiatives portfolio management can translate strategic goals into business initiatives and develop differentiated competencies successfully.
Any business initiative, even though a very technical one should have a clear business objective associated with it. It’s important to optimize business management capability and capacity, harness innovation, enhance progressive changes, unlock business performance and unleash collective potential consistently.
It’s critical to take business innovation initiatives for building unique business advantages: To avoid obsolescence, leaders must think hard and make tough decisions on time, keep the “big picture” in mind, identify what generates the most value for the company, set the right priority, and take business innovation initiatives that can differentiate the organization from its major competitors.
It’s important to set policies, tune structures, and make progress as three levers to drive innovation. Innovation effort can be scaled up, to solve bigger and tougher problems, The powerful digital platforms and collaboration tools are crucial enablers to inspire brainstorming, boost the organizational innovation capacity, take advantage of all sources of creativity in a more open way, choose the number of innovation initiatives being launched scientifically, implement innovation in a systematic manner that provides sustained competitive advantages. and increase the probability of innovation success.
It's imperative to take organizational talent development initiatives, which need to be well integrated into people management disciplines: People are the most invaluable asset in any business. They are not just cost or resource only; but the human capital worth investing in a smart way. From gap identification to goal setting and measurement, talent development initiatives need to take a logical scenario by identifying and closing gaps, and providing customized coaching & training programs. make sure people get placed into the most conducive environment in which they can make a smooth alignment of their professional goals and the strategic goals of the organization, flourish and make the maximum contribution.
Creating and developing talent are distinct actions for talent management. “Talent creating” is a strategic choice to build an alternative talent pipeline; and “developing talent” should be ongoing practices. The talent managers need to clarify: Where is exactly the individual lacking? What are the skills or attributes that need to be developed? Define professional core traits that indicate the ability to quickly learn the skills required and pair that with a full immersion training regiment; provide opportunities for people to learn, grow and develop unique professional competencies.
It is also important to take customer-centric initiatives for enforcing people-centricity: Forethoughtful companies perceive problems from the outside-in customers’ perspective. Take initiatives to produce customized solutions. The customer, including prospects, should be studied and observed and gain insight upon. Using a more inductive approach as to what the customer wants to accomplish "next," and achieve multifaceted business value with customer delight. It would require continuous alignment and improvement of business strategy, business models, and business initiatives management.
From people-centric perspective, in order to deal with rapid changes and fierce competitions, organizations need to possess real time business consciousness based on quality information, differentiated capability, speed, flexibility, and agility to manage customer expectations; develop and deliver products and services to satisfy their customers and stakeholders while maintaining or improving their competitive edge
Great business initiatives should be viewed as an "opportunity" for solving crucial problems, even a set of relevant problems effectively. How effectively the business initiatives have been managed depends on the management capacity. Companies with an effective business initiatives portfolio management can translate strategic goals into business initiatives and develop differentiated competencies successfully.
It’s critical to take business innovation initiatives for building unique business advantages: To avoid obsolescence, leaders must think hard and make tough decisions on time, keep the “big picture” in mind, identify what generates the most value for the company, set the right priority, and take business innovation initiatives that can differentiate the organization from its major competitors.
It’s important to set policies, tune structures, and make progress as three levers to drive innovation. Innovation effort can be scaled up, to solve bigger and tougher problems, The powerful digital platforms and collaboration tools are crucial enablers to inspire brainstorming, boost the organizational innovation capacity, take advantage of all sources of creativity in a more open way, choose the number of innovation initiatives being launched scientifically, implement innovation in a systematic manner that provides sustained competitive advantages. and increase the probability of innovation success.
Creating and developing talent are distinct actions for talent management. “Talent creating” is a strategic choice to build an alternative talent pipeline; and “developing talent” should be ongoing practices. The talent managers need to clarify: Where is exactly the individual lacking? What are the skills or attributes that need to be developed? Define professional core traits that indicate the ability to quickly learn the skills required and pair that with a full immersion training regiment; provide opportunities for people to learn, grow and develop unique professional competencies.
It is also important to take customer-centric initiatives for enforcing people-centricity: Forethoughtful companies perceive problems from the outside-in customers’ perspective. Take initiatives to produce customized solutions. The customer, including prospects, should be studied and observed and gain insight upon. Using a more inductive approach as to what the customer wants to accomplish "next," and achieve multifaceted business value with customer delight. It would require continuous alignment and improvement of business strategy, business models, and business initiatives management.
Great business initiatives should be viewed as an "opportunity" for solving crucial problems, even a set of relevant problems effectively. How effectively the business initiatives have been managed depends on the management capacity. Companies with an effective business initiatives portfolio management can translate strategic goals into business initiatives and develop differentiated competencies successfully.
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