Tuesday, May 9, 2023

Initiatives

Organizations can grow, innovate and transform by taking a systematic approach to identify and develop potentiality into a more solid form.

The business world is complex, it only gets more complex, not less; there are some of the important bits and bytes of information needed to forecast a new market, an emerging technology trend, or the business growth opportunities. 

Business leaders must be willing to understand what drives value and what drives cost, demonstrate vision and passion, present courage, intelligence, and determination required to pull resources & people together, continually push the initiatives forward to achieve the desired goals successfully.

It’s important to understand the people and the organization through a common lens, making it possible to turn organizational theories into tangible management disciplines: It’s a hybrid, networked, extended modern working environment nowadays, the perspective of change unfolds into a multi-dimensional business continuum, which invokes further reflections of the focal scope and purpose of organizational transformation. There is a significant discrepancy between traditional silo-based management discipline and holistic management that enforces inter-connectivity. The traditional management still assumes relevance in contexts of predictability, yet holistic management would appear to be more effective for dealing with emergence and uncertainty as an intellectual discipline.

With emerging technologies and increasing paces of changes, the digital theories have to be updated in order to keep them relevant. A good sense of business theory is "the body of generalizations and principles” developed in association with practice to harness change, build coherent capabilities and capacities entering into the ever-changing business dynamic. Organizations today should continue gaining first-hand knowledge about what they have learned, expanding their knowledge, forming new theories, developing the best and next practices, scaling up, increasing productivity, agility, and overall business manageability.

It’s important to take a holistic view, keep eyes on the higher horizons, focus on what matters the most, identify what generates the most value for the company: Organizations need to have an in-depth understanding of the gains and pains of business design and development. Stay focused, develop, or change everything in a prioritized order as long as it creates a more long-term advantage and solves the critical business issues with continuous deliveries. It requires an "act, sense, respond" approach to deal with chaotic, complex situations, learn how to delegate, not micro-manage, improve business strategic disciplines and business effectiveness.

It’s important to understand multidimensional organizational value, the value chain of business, through the lens of business ecosystem perspective. Corporate management spends time and energy on expanding the high horizon, setting the right priority, identifying the value proposition of the business, and focusing on result-driven activities. The whole value chain needs to be aligned, engaged, and contributing by sharing the value so customers and stakeholders - from suppliers, to factories, employees, shareholders, get their fair share.

It’s important to understand the core business, the critical problem that needs to be solved, and handle expectation management effectively
: When problems or organizations become overly complex, people get frustrated by not being able to achieve their tasks easily. To improve business initiative success rate, 'individual' work and 'group' work cannot be done as a segregated form but within a 'framework' of an entire business ecosystem which include systems, processes, policies, culture, work climates, customers, laws, etc. Organizational leaders show the determination required to pull resources & people together, continually push the initiative forward to achieve the desired goals.

Strategic business initiatives usually have a very low success rate. Handling expectation management effectively is about creating a structure and weaving varying elements into differentiative business competencies that continually deliver what the business needs coherently. Organizational 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, processes, structures, and solutions, select the best option, and develop business potential holistically.

Organizations can grow, innovate and transform by taking a systematic approach to identify and develop potentiality into a more solid form. It’s important to balance a diverse viewpoint of performance management and well define the right “outcome.” The leading businesses across the vertical sectors are the ones that can ride the change curves faster than competitors, and enhances the proactive business management continuum.

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