Saturday, February 25, 2023

Initiatives

Gaining first mover advantage is all about foreseeing and applying trends, that’s where you win the competitive advantage.

Surviving and thriving in today’s business dynamic requires strategic agility, cross-functional collaboration, structural flexibility, inter-relational process, and intuitive service, to reduce business friction and deal with arising conflicts or disruptions continually. 

The business world moves too fast with blurred territories and intriguing ecosystem conditions, marketing, finance, technology, leadership are all intertwined, only through constant improvement and seamless collaboration, the business can align its key factors such as people, process, and technology to create competitive advantage.

Information technology creates a unique advantage: Organizations rely more and more on information technology, the modern world is so data-driven and information-intensive, technology needs will only expand. Data that can be processed into quality information, then refined into enriched knowledge and fresh insight, could be a real competitive advantage for running a real time intelligent organization. It can provide a real competitive advantage in a sustainable manner for any company that wants to stand out of competition, and accelerate the speed of changes.

From a business management perspective, information technology needs to be understood and harnessed by all stakeholders to fulfill its potential; a clear understanding of what services/solutions are enabling your competitive advantage is needed, to explore hidden/unseen business opportunities, make a unique influence on business strategies and business transformation.

Business process becomes more of a differentiator:
A "business process" evokes the notion of inputs, managing known from flowing. Business process has many characteristics such as people, information, workflow, supplies, tools, steering, etc, to take certain activities and achieve certain results. The end results of the processes which are either producing a product or service of perceived more value to a customer is what can be later considered a competitive business advantage. Anything that makes something better, faster, or cheaper provides competitive advantage, and processes help business get there technically..

Understanding which business process optimization and innovations will be most effective to create and sustain a competitive advantage. Business processes that are dynamic and nimble can make a competitive difference for a company from the perspective of product life cycle, customer experience optimization. However, if the company is in a more mature stage, business process innovations may be the primary means for achieving a competitive advantage. By understanding businesses from a process lens, now you know how your resources are deployed, you can see how effective they are and you can measure, empirically, the impact of your management.

Organizational structure tuning improves business agility: In traditional organizations, the business structure is formal and even overly rigid; it perhaps works fine in the considerably static industry age. However, with increasing speed of change, organizational evolution needs business catalysts for change. Otherwise, well-established enterprises become irrelevant and are perhaps replaced by smaller, nimbler competitors. Thus, the top leadership needs to ponder: What new options exist in structures that could support an emerging strategy? What structural optimization enables businesses to improve business manageability? How to fine tune organization structure to create business advantage? The issue is that, given the opportunity, how to establish a formal and enabling organizational structure in line with the strategic direction of the organization.

Many organizations today are running in between - the mix of old and new; the different departments within an organization have different focus or speeds. It’s always a journey to keep tuning the organizational design and structure to improve strategy management effectiveness; move products or services to the markets with effective capacity, process, and speed. It is also important to identify the unofficial structures and take them along on the journey of business innovation and change. The organic system approach to organizational structure could become a reality, and that will be a true evolution of business transformation.

The digital era upon us means the exponential growth of information, increasing speed of change, and fierce competitions. The business today is dynamic, continuous, expansive, interdependent, hyperconnected, and interactive. Gaining first mover advantage is all about foreseeing and applying trends, that’s where you win the competitive edge. Creating trends is about anticipating direction and influencing the better world. The future of the organization is complex enough to act intelligently and nimble enough to adapt to the change promptly.

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